Ebix, Inc. and Subsidiaries
Consolidated Balance Sheets
(In thousands, except share amounts)
December 31,
June 30, 2008 2007
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(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents $ 12,074 $ 49,466
Accounts receivable, less allowance of
$352 and $146, respectively 13,396 8,809
Other current assets 1,113 1,130
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Total current assets 26,583 59,405
Property and equipment, net 3,427 3,356
Goodwill 84,731 36,408
Intangible assets, net 9,988 7,318
Other assets 2,067 2,023
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Total assets $ 126,796 $ 108,510
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LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued expenses 3,627 2,231
Accrued payroll and related benefits 2,629 1,517
Short term debt 24,945 15,650
Current portion of long term debt and
capital lease obligations 502 510
Deferred revenue 6,042 5,645
Other current liabilities 207 149
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Total current liabilities 37,952 25,702
Convertible debt 20,000 20,000
Long term debt and capital lease
obligation, less current portion 4 486
Other liabilities 3,140 1,477
Deferred Rent 656 719
Total liabilities 61,752 48,384
Commitments and Contingencies, Note 9
Stockholders' equity:
Convertible Series D Preferred stock,
$.10 par value, 500,000 shares
authorized, no shares issued and
outstanding -- --
Common stock, $.10 par value, 10,000,000
shares authorized, 3,182,261 issued and
3,173,371 outstanding at June 30, 2008
and 3,406,234 issued and 3,397,344
outstanding at December 31, 2007 317 337
Additional paid-in capital 104,147 114,771
Treasury stock (8,890 and 8,890 shares
repurchased as of June 30, 2008 and
December 31, 2007 respectively) (149) (149)
Accumulated deficit (45,507) (57,513)
Accumulated other comprehensive income 6,235 2,680
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Total stockholders' equity 65,044 60,126
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Total liabilities and stockholders'
equity $ 126,796 $ 108,510
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