Ebix, Inc. and Subsidiaries
Condensed Consolidated Statements of Income
  Three Months Ended Six Months Ended
  June 30, June 30,
  2017 2016 2017 2016
Operating revenue $87,387 $72,574 $166,490 $143,640
         
Operating expenses:        
Cost of services provided 30,932 20,579 56,119 40,181
Product development 8,417 8,285 16,767 16,350
Sales and marketing 4,142 4,206 8,479 8,539
General and administrative, net 14,598 13,310 27,282 24,893
Amortization and depreciation 2,759 2,630 5,614 5,350
Total operating expenses 60,848 49,010 114,261 95,313
Operating income 26,539 23,564 52,229 48,327
Interest income 465 441 1,239 584
Interest expense (3,018) (2,185) (5,486) (3,459)
Foreign currency exchange gain (loss) (391) (195) 3,105 274
Income before income taxes 23,595 21,625 51,087 45,726
Income tax (expense) benefit 302 1,418 (567) (332)
Net income including noncontrolling interest 23,897 23,043 50,520 45,394
Net income attributable to noncontrolling interest (see Note 8) 463 51 659 243
Net income attributable to Ebix, Inc. $23,434 $22,992 $49,861 $45,151
Basic earnings per common share attributable to Ebix, Inc. $0.74 $0.70 $1.58 $1.37
Diluted earnings per common share attributable to Ebix, Inc. $0.74 $0.70 $1.57 $1.36
Basic weighted average shares outstanding 31,490 32,688 31,648 32,866
Diluted weighted average shares outstanding 31,637 32,969 31,805 33,140