Financial Statement
Ebix, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except share amounts)
| June 30, 2015 | December 31, 2014 | |
(In thousands, except share and per share amounts) |
||
| ASSETS | (Unaudited) | |
| Current assets: | ||
| Cash and cash equivalents | $27,423 | $52,300 |
| Short-term investments | 974 | $281 |
| Trade accounts receivable, less allowances of $1,049 and $1,157, respectively | 47,217 | $41,000 |
| Deferred tax asset, net | 2,115 | 2,113 |
| Other current assets | 9,933 | 8,067 |
| Total current assets | 87,662 | 103,761 |
| Property and equipment, net | 32,250 | $24,661 |
| Goodwill | 412,842 | $402,220 |
| Intangibles, net | 51,656 | $49,371 |
| Indefinite-lived intangibles | 30,887 | $30,887 |
| Deferred tax asset, net | 23,191 | $18,758 |
| Other assets | 5766 | 4,553 |
| Total assets | $644,254 | $634,211 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Line of credit | ||
| Accounts payable and accrued liabilities | 23,099 | 40,121 |
| Accrued payroll and related benefits | 6,229 | 5,280 |
| Short term debt | ||
| Revolving line of credit | ||
| Liability – securities litigation settlement | 4,226 | |
| Contingent liability for accrued earn-out acquisition consideration | 1,887 | |
| Contingent liability – securities litigation | ||
| Current portion of long term debt and capital lease obligation, net of discount of $10 and $13, respectively | 617 | 636 |
| Convertible Debt, short term position | ||
| Put option liability | ||
| Deferred revenue | 20,612 | 22,192 |
| Current deferred rent | 289 | 268 |
| Deferred tax liability, net | ||
| Other current liabilities | 102 | 102 |
| Total current liabilities | 52,835 | 68,599 |
| Revolving line of credit | 150,465 | 120,465 |
| Long term debt and capital lease obligations, less current portion, net of discount of $10 and $38, respectively | 43 | 893 |
| Contingent liability for accrued earn-out acquisition consideration | 8,193 | 5,367 |
| Put option liability | — | — |
| Deferred revenue | 1,803 | 2,496 |
| Long term deferred rent | 1,901 | 2,091 |
| Other liabilities | 2,447 | 2,179 |
| Total liabilities | 217,687 | 202,090 |
| Temporary equity | ||
| Stockholders' equity: | ||
| Convertible D Preferred stock, $.10 par value, 500,000 shares authorized, no shares issued and outstanding at June 30, 2015 and December 31, 2014 | — | — |
| Common stock, $.10 par value, 60,000,000 shares authorized, 34,937,055 issued and outstanding, respectively at June 30, 2015 and 36,232,074 issued and 36,191,565 outstanding at December 31, 2014 | 3,494 | 3,619 |
| Additional paid-in capital | 103,547 | 137,101 |
| Treasury stock* (no shares as of June 30, 2015 and December 31, 2014 respectively) | (76) | |
| Retained earnings (Accumulated deficit) | 341,709 | 309,726 |
| Accumulated other comprehensive income (loss) | (22,183) | (18,149) |
| Total stockholders' equity | 426,567 | 432,221 |
| Total liabilities, temporary equity and stockholders' equity | $644,254 | $634,311 |
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