Ebix, Inc. and Subsidiaries
Condensed Consolidated Statements of Income
  Three Months Ended Twelve Months Ended
  December 31, December 31,
  2019 2018 2019 2018
Operating revenue $146,183 $136,327 $580,615 $497,826
 
Operating expenses:        
Cost of services provided 53,111 42,302 205,165 168,415
Product development 11,418 10,963 45,302 39,078
Sales and marketing 4,680 4,045 19,578 17,587
General and administrative (net) 39,219 34,059 140,429 108,475
Amortization and depreciation 3,502 3,428 14,468 11,292
Total operating expenses 111,931 94,797 424,942 344,847
 
Operating income 34,253 41,530 155,673 152,979
Interest income 51 127 629 436
Interest expense (9,781) (9,037) (42,332) (27,101)
Non-operating income - (loss) (7) - 337 60
Non-operating expense - litigation settlement (21,140)
Foreign currency exchange gain (loss) (1,881) 2,127 (2,376) (792)
Income before income taxes 22,635 34,747 90,791 125,582
Income tax expense (517) (26,474) (220) (32,501)
Net income including noncontrolling interest 22,118 8,273 90,571 93,081
Net income (Loss) attributable to noncontrolling interest 468 (236) (6,149) (58)
Net income attributable to Ebix, Inc. $21,650 $8,509 $96,720 $93,139
 
Basic earnings per common share $0.71 $0.27 $3.17 $2.97
 
Diluted earnings per common share $0.71 $0.27 $3.16 $2.95
 
Basic weighted average shares outstanding 30,495 31,133 31,511 31,393
 
Diluted weighted average shares outstanding 30,618 31,225 30,594 31,534