Financial Statement
Ebix, Inc. and Subsidiaries
Condensed Consolidated Statements of Income
(In thousands, except per share data)
(Unaudited)
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| 2012 | 2011 | |
| Operating revenue | $ 43,827 | $ 40,050 |
| Operating expenses: | ||
| Cost of services provided | 9,029 | 7,307 |
| Product development | 4,272 | 4,619 |
| Sales and marketing | 3,812 | 2,852 |
| General and administrative | 6,444 | 7,761 |
| Amortization and depreciation | 1,941 | 1,877 |
| Total operating expenses | 25,498 | 24,416 |
| Operating income | 18,329 | 15,634 |
| Interest income | 167 | 200 |
| Interest expense | (253) | (215) |
| Other non-operating income (loss) | -- | (354) |
| Foreign currency exchange gain (loss) | (296) | 1,468 |
| Income before income taxes | 17,947 | 16,733 |
| Income tax expense | (2,262) | (1,569) |
| Net income | $ 15,685 | $ 15,164 |
| Basic earnings per common share | $ 0.43 | $ 0.40 |
| Diluted earnings per common share | $ 0.40 | $ 0.37 |
| Basic weighted average shares outstanding | 36,450 | 38,151 |
| Diluted weighted average shares outstanding | 39,523 | 41,517 |
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