Ebix Ranked 19th Fastest Growing Company Across All Industries
ATLANTA, GA – September 13, 2011 – Ebix, Inc. (NASDAQ:EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance industry, today announced that it has been ranked as the 4th Fastest Growing Technology Company by Fortune Magazine. The list, which comprises of the 100 fastest growing companies, appears in the 26th September 2011 issue of FORTUNE Magazine and is available on www.Fortune.com
Ebix was ranked 19th amongst the 100 hundred fastest growing companies across all industries by the magazine. As per Fortune, the Company was ranked 21st based on sales growth, with three-year average sales growth of 42% per year. The magazine also ranked the Company 44th based on earnings growth, with three-year average earnings growth rate of 48% per year.
The Company was ranked 46th in the 100 Best Investments list, with three-year average investment return of 30% per year. Ebix was the only Company from Georgia in the Fortune’s list of 100 Fastest Growing Companies.
How Fortune’s ranking works:
To qualify, a company -- domestic or foreign -- must be trading on a major U.S. stock exchange; report data in U.S. dollars; file quarterly reports with the SEC; have a minimum market capitalization of $250 million and stock price of at least $5 on June 30, 2011; and have been trading continuously since June 30, 2008. Companies must have revenue and net income of at least $50 million and $10 million, respectively, for the four quarters ended on or before April 30, 2011, and have posted annualized growth in revenue and earnings per share of at least 15% annually over the three years ended on or before April 30, 2011.
Companies that meet these criteria are ranked by revenue growth rate, EPS growth rate, and three-year annualized total return for the period ended June 30, 2011. (To compute revenue and EPS growth rates, Fortune uses a trailing four quarters log linear least square regression fit.) The overall rank is based on the sum of the three ranks. Once the 100 companies are identified, they are then re-ranked within the 100, using the three equally weighted variables. If there is a tie, the company with the larger four-quarter revenue receives the higher rank.
A leading international supplier of On-Demand software and E-commerce services to the insurance industry, Ebix, Inc., (NASDAQ: EBIX) provides end-to-end solutions ranging from infrastructure exchanges, carrier systems, agency systems and BPO services to custom software development for all entities involved in the insurance industry.
With 30+ offices across Brazil, Singapore, Australia, the US, New Zealand, India and Canada, Ebix powers multiple exchanges across the world in the field of life, annuity, health and property & casualty insurance while conducting in excess of $100 billion in insurance premiums on its platforms. Through its various SaaS-based software platforms, Ebix employs hundreds of insurance and technology professionals to provide products, support and consultancy to thousands of customers on six continents. Ebix’s focus on quality has enabled it to be awarded Level 5 status of the Carnegie Mellon Software Engineering Institute’s Capability Maturity Model (CMM). With a recent ISO 27001-security certification, the Company also has a ISO 9001:2000 certification for both its development and BPO units in India. For more information, visit the Company’s website at www.ebix.com
Aaron Tikkoo, IR, 678 -281-2027