Financial Statement
Ebix, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except share amounts)
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|
June 30, | December 31, |
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2012 | 2011 |
| ASSETS | (Unaudited) | |
| Current assets: |
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| Cash and cash equivalents | $ 25,313 | $ 23,696 |
| Short-term investments | 1,458 | 1,505 |
|
Trade accounts receivable, less allowances
of $1,195 as of June 30, 2012 and $1,719 as of December 31, 2011 |
33,096 | 31,133 |
| Deferred tax asset, net | 2,632 | 2,981 |
| Other current assets | 6,102 | 4,502 |
| Total current assets | 68,601 | 63,817 |
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| Property and equipment, net | 10,319 | 8,834 |
| Goodwill | 320,238 | 259,218 |
| Intangibles, net | 50,852 | 38,386 |
| Indefinite-lived intangibles | 30,798 | 30,453 |
| Deferred tax asset, net | 5,432 | 9,412 |
| Other assets | 3,238 | 1,062 |
| Total assets | $ 489,478 | $ 411,182 |
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| LIABILITIES AND STOCKHOLDERS' EQUITY |
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| Current liabilities: |
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| Accounts payable and accrued liabilities | $ 21,927 | $ 18,719 |
| Accrued payroll and related benefits | 5,517 | 5,034 |
| Short term debt | 10,656 | 6,667 |
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Current portion of long term debt and capital lease
obligations, net of discount of $49 and $0, respectively |
872 | 165 |
| Deferred revenue | 18,060 | 16,460 |
| Current deferred rent | 279 | 266 |
| Other current liabilities | 117 | 2,468 |
| Total current liabilities | 57,428 | 49,779 |
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| Revolving line of credit | 32,840 | 31,750 |
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Long term debt and capital lease obligations, less
current portion, net of discount of $68 and $0, respectively |
36,380 | 8,468 |
| Other liabilities | 4,313 | 3,803 |
|
Contingent liability for accrued earn-out
acquisition consideration |
15,066 | -- |
| Put option liability | 1,114 | -- |
| Deferred revenue | 130 | 328 |
| Long term deferred rent | 1,586 | 939 |
| Total liabilities | 148,857 | 95,067 |
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| Commitments and Contingencies, Note 5 |
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| Stockholders' equity: |
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Preferred stock, $0.10 par value, 500,000 shares authorized,
no shares issued and outstanding at June 30, 2012 and December 31, 2011 |
-- | -- |
|
Common stock, $0.10 par value, 60,000,000 shares
authorized, 37,431,635 issued and 37,391,126 outstanding at June 30, 2012 and 36,418,385 issued and 36,377,876 outstanding at December 31, 2011 |
3,748 | 3,638 |
| Additional paid-in capital | 176,836 | 179,518 |
|
Treasury stock (40,509 shares as of June 30, 2012
and December 31, 2011) |
(76) | (76) |
| Retained earnings | 168,015 | 137,559 |
| Accumulated other comprehensive income | (7,902) | (4,524) |
| Total stockholders' equity | 340,621 | 316,115 |
| Total liabilities and stockholders' equity | $ 489,478 | $ 411,182 |
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