| |
|
|
|
|
|
Ebix,
Inc. and Subsidiaries
Consolidated
Balance Sheets |
| |
|
|
|
|
| |
|
December
31,
2009
|
|
December
31,
2008
|
| |
|
(Unaudited) |
|
(Audited) |
| |
|
(In
thousands, |
| |
|
except share amounts)
|
|
ASSETS |
|
|
|
|
|
Current assets: |
|
|
|
|
| Cash and
cash equivalents |
|
$ |
19,227 |
|
|
$ |
9,475 |
|
| Short-term
investments |
|
|
1,799 |
|
|
|
1,536 |
|
Trade accounts
receivable,
less allowances of $565 and $453 respectively |
|
|
22,861 |
|
|
|
13,562 |
|
| Other current
assets |
|
|
2,628 |
|
|
|
951 |
|
|
Total current assets |
|
|
46,515 |
|
|
|
25,524 |
|
| Property
and equipment, net |
|
|
7,865 |
|
|
|
3,774 |
|
| Goodwill
|
|
|
154,045
|
|
|
|
88,488 |
|
| Intangibles,
net |
|
|
29,223 |
|
|
|
10,235 |
|
| Indefinite-lived
intangibles |
|
|
20,505 |
|
|
|
11,589 |
|
| Other assets
|
|
|
814 |
|
|
|
1,557 |
|
|
Total assets |
|
$ |
258,967 |
|
|
$ |
141,167 |
|
| |
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS’
EQUITY |
|
|
|
|
|
Current liabilities: |
|
|
|
|
| Accounts
payable and accrued liabilities |
|
$ |
7,478 |
|
|
$ |
8,245 |
|
| Accrued
payroll and related benefits |
|
|
3,634 |
|
|
|
2,709 |
|
| Short term
debt |
|
|
23,100 |
|
|
|
24,945 |
|
Current
portion of convertible debt,
net of discount of $706 and $0, respectively |
|
|
28,681 |
|
|
|
11,518 |
|
| Current
portion of long term debt and capital lease obligation
|
|
|
596 |
|
|
|
912 |
|
| Deferred
revenue |
|
|
7,754 |
|
|
|
5,383 |
|
| Other current
liabilities |
|
|
272 |
|
|
|
142 |
|
|
Total current liabilities
|
|
|
71,515 |
|
|
|
53,854 |
|
| Convertible
debt |
|
|
— |
|
|
|
15,000 |
|
Other long
term debt and capital lease
obligation, less current portion |
|
|
671 |
|
|
|
290 |
|
| Other liabilities
|
|
|
2,965 |
|
|
|
941 |
|
| Deferred
tax liability, net |
|
|
5,529 |
|
|
|
— |
|
| Put option
liability |
|
|
6,596 |
|
|
|
— |
|
| Deferred
revenue |
|
|
269 |
|
|
|
330 |
|
| Deferred
rent |
|
|
679 |
|
|
|
610 |
|
|
Total liabilities |
|
|
88,224 |
|
|
|
71,025 |
|
| |
|
|
|
|
| |
|
|
|
|
|
Stockholders’ equity:
|
|
|
|
|
Convertible
Series D Preferred stock,
$.10 par value, 500,000 shares authorized,
no shares issued
and outstanding at December 31, 2009 and 2008 |
|
|
— |
|
|
|
— |
|
Common stock,
$.10 par value,
20,000,000 shares authorized,
11,491,536 issued and 11,478,033 outstanding
at December 31, 2009 and 10,006,455 issued and
9,946,710 outstanding at December 31, 2008 |
|
|
1,148 |
|
|
|
981 |
|
| Additional
paid-in capital |
|
|
160,699
|
|
|
|
111,641
|
|
Treasury
stock (13,503 and
59,745 shares repurchased as of
December 31, 2009 and December 31, 2008 respectively)
|
|
|
(76 |
) |
|
|
(1,178 |
) |
| Accumulated
earnings (deficit) |
|
|
8,623 |
|
|
|
(30,199
|
) |
| Accumulated
other comprehensive income (loss) |
|
|
349 |
|
|
|
(11,103 |
) |
|
Total stockholders’ equity
|
|
|
170,743 |
|
|
|
70,142 |
|
|
Total liabilities and stockholders’
equity |
|
$ |
258,967 |
|
|
$ |
141,167 |
|
| |
|
|
|
|
|
