Financial Statement
Ebix, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except share amounts)
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June 30, 2013 |
December 31, 2012 |
| ASSETS | (Unaudited) | |
| Current assets: |
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| Cash and cash equivalents | $35,394 | $36,449 |
| Short-term investments | 707 | 971 |
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Trade accounts receivable, less allowances
of $1,595 and $1,157, respectively |
38,500 | 37,298 |
| Deferred tax asset, net | 2,047 | 1,835 |
| Other current assets | 5,201 | 5,116 |
| Total current assets | 81,849 | 81,669 |
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| Property and equipment, net | 9,226 | 10,082 |
| Goodwill | 333,872 | 326,748 |
| Intangibles, net | 53,969 | 52,591 |
| Indefinite-lived intangibles | 30,887 | 30,887 |
| Deferred tax asset, net | 24,308 | 11,245 |
| Other assets | 3,933 | 3,724 |
| Total assets | $538,044 | $516,946 |
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| LIABILITIES AND STOCKHOLDERS' EQUITY |
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| Current liabilities: |
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| Accounts payable and accrued liabilities | $23,552 | $15,497 |
| Accrued payroll and related benefits | 6,464 | 5,431 |
| Short term debt | 12,375 | 11,344 |
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Contingent liability for accrued earn-out acquisition consideration |
6,343 | 3,265 |
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Current portion of long term debt and capital
lease obligations, net of discount of $29 and $13, respectively |
845 | 915 |
| Deferred revenue | 16,995 | 19,888 |
| Put option liability | 2,530 | — |
| Current deferred rent | 254 | 237 |
| Other current liabilities | 105 | 113 |
| Total current liabilities | 69,463 | 56,690 |
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| Revolving line of credit | 32,840 | 37,840 |
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Long term debt and capital lease obligations, |
25,750 | 31,592 |
| Other liabilities | 8,794 | 6,429 |
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Contingent liability for accrued earn-out acquisition
consideration |
9,155 | 14,230 |
| Put option liability | — | 1,186 |
| Deferred revenue | 168 | 375 |
| Long term deferred rent | 2,285 | 1,449 |
| Total liabilities | 148,455 | 149,791 |
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| Temporary equity | 5,000 | 5,000 |
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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, 2013 and December 31, 2012 |
— | — |
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Common stock, $0.10 par value, 60,000,000 shares
authorized, 37,016,509 issued and 36,976,000 outstanding at June 30, 2013 and 37,131,777 issued and 37,091,268 outstanding at December 31, 2012 |
3,698 | 3,709 |
| Additional paid-in capital | 162,795 | 164,346 |
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Treasury stock (40,509 shares as of June 30, 2013 and December 31, 2012) |
(76) | (76) |
| Retained earnings | 229,186 | 201,094 |
| Accumulated other comprehensive loss | (11,014) | (6,918) |
| Total stockholders' equity | 384,589 | 362,155 |
| Total liabilities and stockholders' equity | $538,044 | $516,946 |
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