Ebix, Inc. and Subsidiaries
Condensed Consolidated Statements of Income

(In thousands, except per share data)
  Three Months Ended Six Months Ended
  June 30, June 30
  2016 2015 2016 2015
Operating revenue $72,574 $64,712 $143,640 $128,465
         
Operating expenses:        
Cost of services provided 20,579 18,699 40,181 38,184
Product development 8,285 7,288 16,350 14,335
Sales and marketing 4,206 3,611 8,539 6,990
General and administrative, net 13,310 12,121 24,893 22,867
Amortization and depreciation 2,630 2,570 5,350 5,167
Total operating expenses 49,010 44,289 95,313 87,543
         
Operating income 23,564 20,423 48,327 40,922
Interest income 441 44 584 105
Interest expense (2,185) (625) (3,459) (1,344)
Foreign currency exchange gain (loss) (195) 330 274 1,222
Income before income taxes 21,625 20,172 45,726 40,905
Income tax benefit (expense) 1,418 (1,136) (332) (3,533)
Net income including noncontrolling interest 23,043 19,036 45,394 37,372
Net income attributable to noncontrolling interest 51 - 243 -
Net income attributable to Ebix, Inc. 22,992 19,036 45,151 $37,372
         
Basic earnings per common share attributable to Ebix, Inc. 0.70 0.54 1.37 $1.06
         
Diluted earnings per common share attributable to Ebix, Inc. 0.70 0.54 1.36 $1.05
         
Basic weighted average shares outstanding 32,688 35,046 32,866 35,375
         
Diluted weighted average shares outstanding 32,969 35,269 33,140 35,610