Financial Statement

Ebix, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except share amounts)
           
    March 31, December 31,
    2011 2010
           
ASSETS     (Unaudited)   (Audited)
Current assets:          
Cash and cash equivalents     $ 35,589     $ 23,397  
Short-term investments     3,724     6,300  
Trade accounts receivable,
less allowances of $1,083 and $1,126, respectively 		    35,173     26,028  
Other current assets     6,593   5,057
Total current assets     81,079   60,782
           
Property and equipment, net     9,287     7,806  
Goodwill     249,358     180,602  
Intangibles, net     41,109     22,574  
Indefinite-lived intangibles     30,924     30,552  
Other assets     1,104   984
Total assets     $ 412,861   $ 303,300
           
LIABILITIES AND STOCKHOLDERS' EQUITY          
Current liabilities:          
Accounts payable and accrued liabilities     $ 16,171     $ 15,344  
Accrued payroll and related benefits     4,212     4,536  
Short term debt     3,750     5,000  
Convertible debt, net of discount
of $35 and $56, respectively 		    4,965     4,944  
Current portion of long term debt and
capital lease obligations 		    232     426  
Deferred revenue     16,162     8,610  
Current deferred rent     221     207  
Other current liabilities     73   18
Total current liabilities     45,786   39,085
           
Revolving line of credit     25,000     25,000  
Long term debt and capital lease
obligations, less current portion 		    233     205  
Other liabilities     2,991     2,991  
Deferred tax liability, net     2,576     3,534  
Put option liability     891     537  
Deferred revenue     116     126  
Long term deferred rent     1,145   554
Total liabilities     78,738   72,032
           
Stockholders' equity:          
Preferred stock, $0.10 par value,
500,000 shares authorized,
no shares issued and outstanding
at March 31, 2011 and 		         
December 31, 2010 — —  
Common stock, $0.10 par value,
60,000,000 shares authorized,
39,668,672 issued and 39,628,
163 outstanding at 		         
March 31, 2011 and 36,057,791 issued
and 36,017,282 outstanding at December 31, 2010 		3,961 3,602  
Additional paid-in capital     238,500     153,221  
Treasury stock (40,509 shares as of
March 31, 2011 and December 31, 2010) 		    (76 )   (76 )
Retained earnings     82,806     67,642  
Accumulated other comprehensive income     8,932   6,879
Total stockholders' equity     334,123   231,268
Total liabilities and stockholders' equity     $ 412,861   $ 303,300
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5 Concourse Parkway, Suite 3200, Atlanta, Georgia 30328
Ph: 678-281-2043 Fax: 678-281-2019
www.ebix.com
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