Financial Statement
Ebix, Inc. and Subsidiaries
Consolidated Balance Sheets
(In thousands, except share amounts)
| June 30, 2008 | December 31, 2007 | |||
| (Unaudited) | ||||
| ASSETS | ||||
| Current assets: | ||||
| Cash and cash equivalents | $ 12,074 | $ 49,466 | ||
| Accounts receivable, less allowance of $352 and $146, respectively | 13,396 | 8,809 | ||
| Other current assets | 1,113 | 1,130 | ||
| Total current assets | 26,583 | 59,405 | ||
| Property and equipment, net | 3,427 | 3,356 | ||
| Goodwill | 84,731 | 36,408 | ||
| Intangible assets, net | 9,988 | 7,318 | ||
| Other assets | 2,067 | 2,023 | ||
| Total assets | $ 126,796 | $ 108,510 | ||
| LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: | ||||
| Accounts payable and accrued expenses | 3,627 | 2,231 | ||
| Accrued payroll and related benefits | 2,629 | 1,517 | ||
| Short term debt | 24,945 | 15,650 | ||
| Current portion of long term debt and capital lease obligations | 502 | 510 | ||
| Deferred revenue | 6,042 | 5,645 | ||
| Other current liabilities | 207 | 149 | ||
| Total current liabilities | 37,952 | 25,702 | ||
| Convertible debt | 20,000 | 20,000 | ||
| Long term debt and capital lease obligation, less current portion | 4 | 486 | ||
| Other liabilities | 3,140 | 1,477 | ||
| Deferred Rent | 656 | 719 | ||
| Total liabilities | 61,752 | 48,384 | ||
| Commitments and Contingencies, Note 9 Stockholders' equity: | ||||
| Convertible Series D Preferred stock, $.10 par value, 500,000 shares authorized, no shares issued and outstanding | -- | -- | ||
| Common stock, $.10 par value, 10,000,000 shares authorized, 3,182,261 issued and 3,173,371 outstanding at June 30, 2008 and 3,406,234 issued and 3,397,344 outstanding at December 31, 2007 | 317 | 337 | ||
| Additional paid-in capital | 104,147 | 114,771 | ||
| Treasury stock (8,890 and 8,890 shares repurchased as of June 30, 2008 and December 31, 2007 respectively) | (149) | (149) | ||
| Accumulated deficit | (45,507) | (57,513) | ||
| Accumulated other comprehensive income | 6,235 | 2,680 | ||
| Total stockholders' equity | 65,044 | 60,126 | ||
| Total liabilities and stockholders' equity | $ 126,796 | $ 108,510 | ||
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