Ebix, Inc. and Subsidiaries
Consolidated Statements of Income
(in thousands, except for share amounts)
(Unaudited)
Three Months Ended
March 31,
2007 2006
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Revenue:
Services and other (Including revenues from related
parties of $578 and $713 respectively) $8,702 $5,153
Software 316 497
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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
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Total operating expenses 6,780 4,468
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Operating income 2,238 1,182
Interest income 71 79
Interest expense (228) (32)
Foreign exchange gain 5 42
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Income before income taxes 2,086 1,271
Income tax provision (124) (136)
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Net income $1,962 $1,135
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Basic earnings per common share $0.69 $0.41
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Diluted earnings per common share $0.61 $0.36
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Basic weighted average shares outstanding 2,848 2,749
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Diluted weighted average shares outstanding 3,216 3,137
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