Financial Statement
Ebix, Inc. and Subsidiaries
Consolidated Statements of Income
(In thousands, except per share data)
(Unaudited)
| Three Months Ended | Nine Months Ended, | |||
| Septermber 30, | Septermber 30, | |||
| 2008 | 2007 | 2008 | 2007 | |
| Operating Revenue: | 20,168 | 11,806 | 54,609 | 30,640 |
| Operating expenses: | ||||
| Costs of services provided | 3,940 | 1,840 | 10,101 | 5,124 |
| Product development | 2,074 | 2,074 | 6,314 | 6,122 |
| Sales and marketing | 871 | 1,099 | 2,536 | 3,129 |
| General and administrative | 4,360 | 2,449 | 12,032 | 6,135 |
| Amortization and depreciation | 804 | 632 | 2,460 | 1,882 |
| Total operating expenses | 12,049 | 8,094 | 33,443 | 22,392 |
| Operating income | 8,119 | 3,712 | 21,166 | 82,48 |
| Interest income | 134 | 181 | 396 | 388 |
| Interest expense | (440) | (7) | (1,176) | (377) |
| Foreign exchange gain (loss) | (24) | 175 | 135 | 302 |
| Income before income taxes | 7,789 | 4,061 | 20,521 | 8,561 |
| Income tax (expense)/benefit | (391) | (368) | (1,118) | (393) |
| Net income | $ 7,398 | $ 3,693 | $ 19,403 | $ 8,168 |
| Basic earnings per common share | $ .77 | $ 0.38 | $ 1.97 | $ 0.90 |
| Diluted earnings per common share | $ .62 | $ 0.33 | $ 1.65 | $ 0.80 |
| Basic weighted average shares outstanding | 9,607 | 9,816 | 9,837 | 9,098 |
| Diluted weighted average shares outstanding | 12,170 | 11,038 | 12,040 | 10,266 |
| * Adjusted for all periods presented to reflect the retroactive effect of 3-for-1 stock split dated October 9, 2008. | ||||
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