Ebix, Inc. and Subsidiaries
Condensed Consolidated Statements of Income

(In thousands, except per share data)

 

Three Months Ended Twelve Months Ended
  December 31, December 31,
  2015  2014 2015 2014
  (Unaudited)  (Unaudited) (Unaudited) (Audited)
Operating revenue $70,204  $60,633 $265,482 $214,321
Operating expenses:        
       
Cost of services provided 16,444 17,537 72,437 47,388
Product development 8,029 6,630 30,702 26,860
Sales and marketing 4,122 3,196 14,917 13,840
General and administrative (net) 13,083 9,963 48,078 36,880
Amortization and depreciation 2,702 2,239 10,634 9,681
Total operating expenses 44,380 39,565 176,768 134,649
       
Operating income 25,824  21,068  88,714 79,672
Interest income 64 53 231 379
Interest expense (1,909) (2,184) (4,311) (3,034)
Non-operating income - put options - - - 296
Non-operating expense - securities litigation - (340) - (690)
Foreign currency exchange gain (loss) (354) 297 2,005 829
Income before income taxes 23,625  18,894  86,639 77,452
Income tax expense (1,696) (2,347) (7,106) (13,894)
Net income $21,929  $16,547 $79,533 $63,558
         
Basic earnings per common share $0.65  $0.45 $2.29 $1.68
          
Diluted earnings per common share $0.65  $0.45 $2.28 $1.67
         
Basic weighted average shares outstanding 33,678 36,588 34,668 37,809
         
Diluted weighted average shares outstanding 33,931 36,801 34,901 38,040