Ebix, Inc. and Subsidiaries
Consolidated Statements of Operations
(In thousands, except per share data)
(Unaudited)
Three Months
Ended March
31,
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2004 2003
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Revenue:
Software $227 $ 210
Services and other 3,707 3,402
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Total revenue 3,934 3,612
Operating expenses:
Services and other costs 1,163 1,005
Product development 560 360
Sales and marketing 273 461
General and administrative 1,387 1,164
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Total operating expenses 3,383 2,990
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Operating income 551 622
Interest income 27 15
Interest expense (2) (5)
Foreign exchange gain (loss) 10 (49)
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Income before income taxes 586 583
Income tax expense (140) (67)
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Net income $ 446 $ 516
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Basic earnings per common share $0.17 $0.23
Diluted earnings per common share $0.15 $0.23
Basic weighted average shares outstanding 2,586 2,291
Diluted weighted average shares outstanding 2,917 2,291
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