Ebix, Inc. and Subsidiaries
Consolidated Statements of Income
(In thousands, except per share data)
Three Months Ended
March 31,
2006 2005
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Revenue:
Software $497 $202
Services and other (Including revenues from
related parties of $713 and $878, respectively) 5,153 5,702
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Total revenue 5,650 5,904
Operating expenses:
Services and other costs 1,331 1,406
Product development 869 794
Sales and marketing 590 478
General and administrative 1,364 1,689
Amortization and depreciation 314 329
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Total operating expenses 4,468 4,696
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Operating income 1,182 1,208
Interest income 79 82
Interest expense (32) (102)
Foreign exchange gain (loss) 42 (9)
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Income before income taxes 1,271 1,179
Income tax expense (136) (111)
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Net income $1,135 $1,068
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Basic earnings per common share $0.41 $0.37
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Diluted earnings per common share $0.36 $0.33
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Basic weighted average shares outstanding 2,748 2,912
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Diluted weighted average shares outstanding 3,137 3,224
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