Financial Statement
Ebix, Inc. and Subsidiaries
Condensed Consolidated Statements of Income
(In thousands, except per share data)
(Unaudited)
| Three Months Ended | ||
| March 31, | ||
| 2007 | 2006 | |
| Revenue: | ||
| Services and other (Including revenues from related parties of $578 and $713 respectively) | $8,702 | $5,153 |
| Software | 316 | 497 |
| Total revenue | 9,018 | 5,650 |
| Operating expenses: | ||
| Services and other costs | 1,566 | 1,331 |
| Product development | 1,850 | 869 |
| Sales and marketing | 952 | 590 |
| General and administrative | 1,787 | 1,364 |
| Amortization and depreciation | 625 | 314 |
| Total operating expenses | 6,780 | 4,468 |
| Operating income | 2,238 | 1,182 |
| Interest income | 71 | 79 |
| Interest expense | (228) | (32) |
| Foreign exchange gain | 5 | 42 |
| Income before income taxes | 2,086 | 1,271 |
| Income tax provision | (124) | (136) |
| Net income | $1,962 | $1,135 |
| Basic earnings per common share | $0.69 | $0.41 |
| Diluted earnings per common share | $0.61 | $0.36 |
| Basic weighted average shares outstanding | 2,848 | 2,749 |
| Diluted weighted average shares outstanding | 3,216 | 3,137 |
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