Financial Statement
Ebix, Inc. and Subsidiaries
Consolidated Balance Sheets
(In thousands, except share amounts)
| September 30, 2008 | December 31, 2007 | |
| (Unaudited) | ||
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 13,246 | $ 49,466 |
| Accounts receivable, less allowance of $505 and $146, respectively | 14,314 | 8,809 |
| Other current assets | 1,301 | 1,130 |
| Total current assets | 28,861 | 59,405 |
| Property and equipment, net | 3,539 | 3,356 |
| Goodwill | 96,051 | 36,408 |
| Intangible assets, net | 10,212 | 7,318 |
| Other assets | 2,161 | 2,023 |
| Total assets | $ 140,824 | $ 108,510 |
| LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: | ||
| Accounts payable and accrued expenses | 3,685 | 2,231 |
| Accrued payroll and related benefits | 3,196 | 1,517 |
| Short term debt | 24,945 | 509 |
| Current portion of long term debt and capital lease obligations | 509 | 510 |
| Deferred revenue | 5,657 | 5,645 |
| Other current liabilities | 275 | 149 |
| Total current liabilities | 38,267 | 25,702 |
| Convertible debt | 31,000 | 20,000 |
| Long term debt and capital lease obligation, less current portion | 3 | 486 |
| Other liabilities | 3,234 | 1,477 |
| Deferred Rent | 624 | 719 |
| Total liabilities | 73,128 | 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, 20,000,000 shares authorized, 9,775,458 issued and 9,748,788 outstanding at September 30, 2008 and 10,218,702 issued and 10,192,032 outstanding at December 31, 2007 | 324 | 337 |
| Additional paid-in capital | 107,285 | 114,771 |
| Treasury stock (8,890 and 8,890 shares repurchased as of September 30, 2008 and December 31, 2007 respectively) | (149) | (149) |
| Accumulated deficit | (38,110) | (57,513) |
| Accumulated other comprehensive income | 1,653 | 2,680 |
| Total stockholders' equity | 67,697 | 60,126 |
| Total liabilities and stockholders' equity | $ 140,824 | $ 108,510 |
| * Adjusted for all periods presented to reflect the retroactive effect of 3-for-1 stock split dated October 9, 2008. | ||
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