Financial Statement
Ebix,
Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except share amounts)
| September 30, | December 31, | |||||||
| 2011 | 2010 | |||||||
| ASSETS | (Unaudited) | |||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 13,941 | $ | 23,397 | ||||
| Short-term investments | 1,663 | 6,300 | ||||||
| 31,242 | 26,028 | |||||||
| Deferred tax asset, net | 3,127 | |||||||
| Other current assets | 4,410 | 5,057 | ||||||
| Total current assets | 54,383 | 60,782 | ||||||
| Property and equipment, net | 8,718 | 7,806 | ||||||
| Goodwill | 237,863 | 180,602 | ||||||
| Intangibles, net | 38,380 | 22,574 | ||||||
| Indefinite-lived intangibles | 30,493 | 30,552 | ||||||
| Deferred tax asset, net | 10,196 | |||||||
| Other assets | 974 | 984 | ||||||
| Total assets | $ | 381,007 | $ | 303,300 | ||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable and accrued liabilities | $ | 20,050 | $ | 15,344 | ||||
| Accrued payroll and related benefits | 4,563 | 4,536 | ||||||
| Short term debt | 6,667 | 5,000 | ||||||
| Convertible debt, net of discount of $0 as of September 30, 2011 and $56 thousand as of December 31, 2010 |
4,944 | |||||||
| Current portion of long term debt
and capital lease obligations |
154 | 426 | ||||||
| 16,380 | 8,610 | |||||||
| 250 | 207 | |||||||
| Put option liability | 1,430 | |||||||
| Other current liabilities | 998 | 18 | ||||||
| Total current liabilities | 50,492 | 39,085 | ||||||
| Revolving line of credit | 10,250 | 25,000 | ||||||
| 10,159 | 205 | |||||||
| Other liabilities | 3,635 | 2,991 | ||||||
| Deferred tax liability, net | 3,534 | |||||||
| Put option liability | 537 | |||||||
| Deferred revenue | 139 | 126 | ||||||
| Long term deferred rent | 1,012 | 554 | ||||||
| Total liabilities | 75,687 | 72,032 | ||||||
| Stockholders' equity: | ||||||||
| Preferred stock, $0.10 par value,
500,000 shares authorized, no shares issued and outstanding at September 30, 2011 and December 31, 2010 |
||||||||
| Common stock, $0.10 par value, 60,000,000
shares authorized, 36,534,976 issued and 36,494,467 outstanding at September 30, 2011 and 36,057,791 issued and 36,017,282 outstanding at December 31, 2010 |
3,649 | 3,602 | ||||||
| Additional paid-in capital | 179,619 | 153,221 | ||||||
| Treasury stock (40,509 shares as of September 30, 2011 and December 31, 2010) |
(76) | (76) | ||||||
| Retained earnings | 121,690 | 67,642 | ||||||
| Accumulated other comprehensive income | 438 | 6,879 | ||||||
| Total stockholders' equity | 305,320 | 231,268 | ||||||
| Total liabilities and stockholders' equity | $ | 381,007 | $ | 303,300 | ||||
