Financial Statement
Ebix, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except share amounts)
|
June 30, 2010
|
December 31, 2009
|
|||||||
| (Unaudited) | ||||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 20,891 | $ | 19,227 | ||||
| Short-term investments | 7,500 | 1,799 | ||||||
| Trade accounts receivable, less allowances of $646 and $565, respectively | 24,402 | 22,861 | ||||||
| Other current assets | 2,123 | 2,628 | ||||||
| Total current assets | 54,916 | 46,515 | ||||||
| Property and equipment, net | 7,705 | 7,865 | ||||||
| Goodwill | 164,993 | 157,245 | ||||||
| Intangibles, net | 21,019 | 20,505 | ||||||
| Indefinite-lived intangibles | 29,299 | 29,223 | ||||||
| Other assets | 953 | 814 | ||||||
| Total assets | $ | 278,885 | $ | 262,167 | ||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable and accrued liabilities | $ | 8,417 | $ | 11,060 | ||||
| Accrued payroll and related benefits | 2,930 | 3,634 | ||||||
| Short term debt | 4,375 | 23,100 | ||||||
| Convertible debt, net of discount of $494 and $706, respectively | 24,505 | 28,681 | ||||||
| Current portion of long term debt and capital lease obligations | 463 | 596 | ||||||
| Deferred revenue | 7,776 | 7,754 | ||||||
| Current deferred rent | 191 | 163 | ||||||
| Other current liabilities | 110 | 109 | ||||||
| Total current liabilities | 48,767 | 75,097 | ||||||
| Revolving line of credit | 15,600 | — | ||||||
| Long term debt and capital lease obligations, less current portion | 3,587 | 671 | ||||||
| Other liabilities | 2,966 | 2,965 | ||||||
| Deferred tax liability, net | 5,195 | 5,147 | ||||||
| Put option liability | 5,097 | 6,596 | ||||||
| Deferred revenue | 123 | 269 | ||||||
| Long term deferred rent | 648 | 679 | ||||||
| Total liabilities | 81,983 | 91,424 | ||||||
| Stockholders' equity: | ||||||||
|
Preferred stock, $.10 par value,
500,000 shares authorized, no shares issued and outstanding at June 30, 2010 and December 31, 2009 |
— | — | ||||||
|
Common stock, $.10 par value,
60,000,000 shares authorized, 34,827,986 issued and 34,787,477 outstanding at June 30, 2010 and 34,474,608 issued and 34,434,099 outstanding at December 31, 2009 |
3,479 | 3,443 | ||||||
| Additional paid-in capital | 158,899 | 158,404 | ||||||
|
Treasury stock (40,509 shares as of June 30, 2010 and December 31, 2009) |
(76 ) | (76) | ||||||
| Retained earnings | 35,017 | 8,623 | ||||||
| Accumulated other comprehensive income (loss) | (417) | 349 | ||||||
| Total stockholders' equity | 196,902 | 170,743 | ||||||
| Total liabilities and stockholders' equity | $ | 278,885 | $ | 262,167 | ||||
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