| |
|
Ebix, Inc. and Subsidiaries
Consolidated Statements
of Income
(In thousands, except
per share data)
(Unaudited) |
| |
|
|
|
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|
|
2009 |
|
2008 |
|
2009 |
|
2008 |
| |
|
|
|
|
|
|
|
|
Operating Revenue |
$ |
22,421 |
|
|
$ |
17,803 |
|
|
$ |
43,089 |
|
|
$ |
34,442 |
|
| |
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
Cost of services provided |
|
4,532 |
|
|
|
3,225 |
|
|
|
8,833 |
|
|
|
6,161 |
|
|
Product development |
|
2,753 |
|
|
|
2,162 |
|
|
|
5,258 |
|
|
|
4,240 |
|
|
Sales and marketing |
|
1,121 |
|
|
|
818 |
|
|
|
2,255 |
|
|
|
1,665 |
|
|
General and administrative |
|
3,925 |
|
|
|
3,856 |
|
|
|
7,553 |
|
|
|
7,672 |
|
|
Amortization and depreciation |
|
830 |
|
|
|
837 |
|
|
|
1,573 |
|
|
|
1,656 |
|
|
Total operating expenses |
|
13,161 |
|
|
|
10,898 |
|
|
|
25,472 |
|
|
|
21,394 |
|
| |
|
|
|
|
|
|
|
|
Operating income |
|
9,260 |
|
|
|
6,905 |
|
|
|
17,617 |
|
|
|
13,048 |
|
|
Interest income |
|
39 |
|
|
|
140 |
|
|
|
91 |
|
|
|
262 |
|
|
Interest expense |
|
(273 |
) |
|
|
(394 |
) |
|
|
(557 |
) |
|
|
(736 |
) |
|
Foreign exchange gain (loss) |
|
346 |
|
|
|
100 |
|
|
|
752 |
|
|
|
159 |
|
| |
|
|
|
|
|
|
|
|
Income before income taxes |
|
9,372 |
|
|
|
6,751 |
|
|
|
17,903 |
|
|
|
12,733 |
|
|
Income tax (expense)/benefit |
|
(416 |
) |
|
|
(415 |
) |
|
|
(612 |
) |
|
|
(727 |
) |
|
Net income |
$ |
8,956 |
|
|
$ |
6,336 |
|
|
$ |
17,291 |
|
|
$ |
12,006 |
|
| |
|
|
|
|
|
|
|
|
Basic earnings per common share |
$ |
0.88 |
|
|
$ |
0.65 |
|
|
$ |
1.72 |
|
|
$ |
1.21 |
|
| |
|
|
|
|
|
|
|
|
Diluted earnings per common share |
$ |
0.73 |
|
|
$ |
0.54 |
|
|
$ |
1.42 |
|
|
$ |
1.00 |
|
| |
|
|
|
|
|
|
|
|
Basic weighted average shares outstanding |
|
10,186 |
|
|
|
9,688 |
|
|
|
10,057 |
|
|
|
9,954 |
|
| |
|
|
|
|
|
|
|
|
Diluted weighted average shares outstanding |
|
12,487 |
|
|
|
11,977 |
|
|
|
12,427 |
|
|
|
12,220 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
