|
|
|
Ebix,
Inc. and Subsidiaries
Consolidated
Statements of Income
(In thousands, except per share data)
(Unaudited) |
| |
|
|
|
|
|
|
|
Three
Months Ended
September 30, |
|
Nine
Months Ended
September
30, |
|
|
|
2009 |
|
2008 |
|
2009 |
|
2008 |
| |
|
|
|
|
|
|
|
|
|
Operating Revenue |
|
$ |
23,292 |
|
|
$ |
20,168 |
|
|
$ |
66,381 |
|
|
$ |
54,609 |
|
| |
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
Cost of services provided |
|
|
4,465 |
|
|
|
3,940 |
|
|
|
13,298 |
|
|
|
10,101 |
|
|
Product development |
|
|
3,000 |
|
|
|
2,074 |
|
|
|
8,258 |
|
|
|
6,314 |
|
|
Sales and marketing |
|
|
1,298 |
|
|
|
871 |
|
|
|
3,553 |
|
|
|
2,536 |
|
|
General and administrative |
|
|
3,803 |
|
|
|
4,360 |
|
|
|
11,355 |
|
|
|
12,032 |
|
|
Amortization and depreciation |
|
|
943 |
|
|
|
804 |
|
|
|
2,517 |
|
|
|
2,460 |
|
|
Total operating expenses
|
|
|
13,509 |
|
|
|
12,049 |
|
|
|
38,981 |
|
|
|
33,443 |
|
| |
|
|
|
|
|
|
|
|
|
Operating income |
|
|
9,783 |
|
|
|
8,119 |
|
|
|
27,400 |
|
|
|
21,166 |
|
|
Interest income |
|
|
56 |
|
|
|
134 |
|
|
|
147 |
|
|
|
396 |
|
|
Interest expense |
|
|
(234 |
) |
|
|
(440 |
) |
|
|
(791 |
) |
|
|
(1,176 |
) |
|
Foreign exchange gain (loss) |
|
|
142 |
|
|
|
(24 |
) |
|
|
894 |
|
|
|
135 |
|
| |
|
|
|
|
|
|
|
|
|
Income before income taxes
|
|
|
9,747 |
|
|
|
7,789 |
|
|
|
27,650 |
|
|
|
20,521 |
|
|
Income tax (expense)/benefit |
|
|
(313 |
) |
|
|
(391 |
) |
|
|
(925 |
) |
|
|
(1,118 |
) |
|
Net income |
|
$ |
9,434 |
|
|
$ |
7,398 |
|
|
$ |
26,725 |
|
|
$ |
19,403 |
|
| |
|
|
|
|
|
|
|
|
|
Basic earnings per common share
|
|
$ |
0.91 |
|
|
$ |
0.77 |
|
|
$ |
2.63 |
|
|
$ |
1.97 |
|
| |
|
|
|
|
|
|
|
|
|
Diluted earnings per common
share |
|
$ |
0.76 |
|
|
$ |
0.62 |
|
|
$ |
2.17 |
|
|
$ |
1.65 |
|
| |
|
|
|
|
|
|
|
|
|
Basic weighted average shares outstanding |
|
|
10,412 |
|
|
|
9,607 |
|
|
|
10,177 |
|
|
|
9,837 |
|
| |
|
|
|
|
|
|
|
|
|
Diluted weighted average shares outstanding |
|
|
12,613 |
|
|
|
12,170 |
|
|
|
12,490 |
|
|
|
12,040 |
|
| |
|
|
|
|
|
|
|
|
|
