Financial Statement
Ebix, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except share amounts)
| September 30, 2014 | December 31, 2013 | |
|
(In thousands, except share and per share amounts) |
||
| ASSETS | (Unaudited) | |
| Current assets: | ||
| Cash and cash equivalents | $47,350 | $56,674 |
| Short-term investments | 1,326 | 801 |
| Accounts receivable - Trade, Net | 38,361 | 39,070 |
| Deferred tax asset, net | 997 | 256 |
| Other current assets | 6,251 | 5,548 |
| Total current assets | 94,285 | 102,349 |
| Property and equipment, net | 22,648 | 8,528 |
| Goodwill | 350,255 | 337,068 |
| Intangibles, net | 46,504 | 50,734 |
| Indefinite-lived intangibles | 30,887 | 30,887 |
| Deferred tax asset, net | 15,581 | 20,616 |
| Other assets | 4,890 | 3,682 |
| Total assets | $565,050 | $553,864 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Line of credit | ||
| Accounts payable and accrued liabilities | $11,138 | $17,818 |
| Accrued payroll and related benefits | 4,251 | 6,482 |
| Short term debt | 13,062 | |
| Liability – securities litigation settlement | 4,226 | |
| Contingent liability for accrued earn-out acquisition consideration | 564 | 4,137 |
| Current portion of long term debt and capital lease obligations | 724 | 827 |
| Put option liability | 845 | |
| Deferred revenue | 18,575 | 18,918 |
| Current deferred rent | 230 | 254 |
| Other current liabilities | 84 | 106 |
| Total current liabilities | 35,566 | 66,675 |
| Revolving line of credit | 63,465 | 22,840 |
| Long term debt capital lease obligation, less current portion | 898 | 20,124 |
| Contingent liability for accrued earn-out acquisition consideration | 10,286 | 10,283 |
| Deferred revenue | 144 | 391 |
| Long term deferred rent | 1,848 | 2,185 |
| Other liabilities | 16,473 | 4,719 |
| Total liabilities | 128,680 | 127,217 |
| Temporary equity | 5,000 | |
| Stockholders' equity: | ||
| Preferred stock, $0.10 par value, 500,000 shares authorized, no shares issued and outstanding at September 30, 2014 and December 31, 2013 | — | — |
| Common stock, $0.10 par value, 60,000,000 shares authorized, 37,191,888 issued and 37,151,379 outstanding at September 30, 2014 and 38,088,391 issued and 38,047,882 outstanding at December 31, 2013 | 3,715 | 3,805 |
| Additional paid-in capital | 151,039 | 164,216 |
| Treasury stock (40,509 shares as of September 30, 2014 and December 31, 2013) | (76) | (76) |
| Retained earnings (Accumulated deficit) | 295,933 | 257,574 |
| Accumulated other comprehensive income (loss) | (14,241) | (12,294) |
| Total stockholders' equity | 436,370 | 413,225 |
| Total liabilities, temporary equity and stockholders' equity | $565,050 | $545,442 |
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