Financial Statement
Ebix, Inc. and Subsidiaries
Condensed Consolidated Statements of Income
(In thousands, except per share data)
(Unaudited)
| Three Months | Six Months, | |||
| Ended June 30, | Ended June 30, | |||
| 2008 | 2007 | 2008 | 2007 | |
| Operating Revenue: | 17,803 | 9,816 | 34,442 | 18,834 |
| Operating expenses: | ||||
| Costs of services provided | 3,225 | 1,718 | 6,161 | 3,284 |
| Product development | 2,162 | 2,198 | 4,240 | 4,048 |
| Sales and marketing | 818 | 1,078 | 1,665 | 2,030 |
| General and administrative | 3,856 | 1,899 | 7,672 | 3,686 |
| Amortization and depreciation | 837 | 625 | 1,656 | 1,250 |
| Total operating expenses | 10,898 | 7,518 | 21,394 | 14,298 |
| Operating income | 6,905 | 2,298 | 13,048 | 4,536 |
| Interest income | 140 | 136 | 262 | 207 |
| Interest expense | (394) | (142) | (736) | (370) |
| Foreign exchange gain (loss) | 100 | 122 | 159 | 127 |
| Income before income taxes | 6,751 | 2,414 | 12,733 | 4,500 |
| Income tax (expense)/benefit | (415) | 99 | (727) | (25) |
| Net income | $ 6,336 | $2,513 | $12,006 | $ 4,475 |
| Basic earnings per common share | $ 1.96 | $ 0.85 | $ 3.62 | $ 1.54 |
| Diluted earnings per common share | $ 1.62 | $ 0.75 | $ 3.01 | $ 1.36 |
| Basic weighted average shares outstanding | 3,229 | 2,973 | 3,318 | 2,911 |
| Diluted weighted average shares outstanding | 3,992 | 3,366 | 4,073 | 3,291 |
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