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,

 

 

2016

 

2015

 

2016

 

2015

 

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

(Audited)

 

 

Operating revenue

$

80,046

 

 

$

    70,204

 

 

$

298,294

 

 

$

265,482

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of services provided

22,522

 

 

16,444

 

 

85,128

 

 

72,437

 

 

Product development

8,068

 

 

8,029

 

 

32,981

 

 

30,702

 

 

Sales and marketing

4,467

 

 

4,122

 

 

17,469

 

 

14,917

 

 

General and administrative (net)

14,670

 

 

13,083

 

 

51,689

 

 

48,078

 

 

Amortization and depreciation

2,658

 

 

2,702

 

 

10,746

 

 

10,634

 

 

Total operating expenses

52,385

 

 

44,380

 

 

198,013

 

 

176,768

 

 

 

 

 

 

 

 

 

 

Operating income

27,661

 

 

25,824

 

 

100,281

 

 

88,714

 

 

Interest income

632

 

 

64

 

 

1,851

 

 

231

 

 

Interest expense

(1,995

)

 

(1,909

)

 

(7,376

)

 

(4,311

)

 

Non-operating income – (loss)

 

 

 

 

1,162

 

 

 

 

Foreign currency exchange gain (loss)

(839

)

 

(354

)

 

13

 

2,005

 

 

Income before income taxes

25,459

 

 

23,625

 

 

95,931

 

 

86,639

 

 

Income tax expense

(516

)

 

(1,696

)

 

(1,637

)

 

(7,106

)

 

Net income including noncontrolling interest

 

24,943

 

 

21,929

 

 

94,294

 

 

79,533

 

 

Net income attributable to noncontrolling interest

314

 

 

 

 

447

 

 

 

 

Net income attributable to Ebix, Inc.

$

24,629

 

 

$

21,929

 

 

$

93,847

 

 

$

79,533

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per common share

$

0.76

 

 

$

0.65

 

 

$

2.88

 

 

$

2.29

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per common share

$

0.76

 

 

$

0.65

 

 

$

2.86

 

 

$

2.28

 

 

 

 

 

 

 

 

 

 

 

Basic weighted average shares outstanding

32,279

 

 

33,678

 

 

32,603

 

 

34,668

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted weighted average shares outstanding

32,483

 

 

33,931

 

 

32,863

 

 

34,901