Financial Statement
Ebix, Inc. and Subsidiaries
Condensed Consolidated Statements of Income
(In thousands, except per share data) (Unaudited)
| Three Months Ended | Nine Months Ended | |||
| September 30, | September 30 | |||
| 2013 | 2012 | 2013 | 2012 | |
| Operating revenue | $50,293 | $53,804 | $153,863 | $145,347 |
| Operating expenses: | ||||
| Cost of services provided | 10,136 | 9,500 | 30,385 | 27,686 |
| Product development | 6,625 | 7,102 | 20,384 | 17,188 |
| Sales and marketing | 4,024 | 4,346 | 11,763 | 12,454 |
| General and administrative, net | 8,448 | 9,679 | 26,672 | 24,700 |
| Amortization and depreciation | 2,459 | 2,469 | 7,459 | 6,571 |
| Total operating expenses | 31,692 | 33,096 | 96,663 | 88,599 |
| Operating income | 18,601 | 20,708 | 57,200 | 56,748 |
| Interest income | 159 | 88 | 343 | 365 |
| Interest expense | (318) | (440) | (961) | (1,005) |
| Non-operating income (loss) - put options | 93 | 414 | (1,250) | 676 |
| Non-operating expense - securities litigation | (4,226) | — | (4,226) | — |
| Foreign currency exchange gain (loss) | (33) | (536) | (326) | 1,759 |
| Income before income taxes | 14,276 | 20,234 | 50,780 | 58,543 |
| Income tax expense | (1,133) | (2,162) | (6,751) | (6,719) |
| Net income | $13,143 | $18,072 | $44,029 | $51,824 |
| Basic earnings per common share | $0.35 | $0.49 | $1.18 | $1.41 |
| Diluted earnings per common share | $0.34 | $0.46 | $1.14 | $1.32 |
| Basic weighted average shares outstanding | 37,919 | 37,214 | 37,435 | 36,859 |
| Diluted weighted average shares outstanding | 38,451 | 39,120 | 38,676 | 39,158 |
Investor Home
