|
Ebix,
Inc. and Subsidiaries
Consolidated
Statements of Income
(In thousands, except per share
data) |
| |
|
|
|
|
|
|
|
Three
Months Ended
December
31, |
|
Twelve
Months Ended
December
31, |
|
|
|
2009
|
|
2008
|
|
2009
|
|
2008
|
| |
|
(Unaudited) |
|
(Unaudited) |
|
(Unaudited) |
|
(Audited) |
|
Operating
Revenue |
|
$ |
31,304 |
|
|
$ |
20,143 |
|
|
$ |
97,685 |
|
|
$ |
74,752 |
|
| |
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
| Cost of services
provided |
|
|
7,976 |
|
|
|
4,060 |
|
|
|
21,274 |
|
|
|
14,161 |
|
| Product
development |
|
|
3,104 |
|
|
|
2,648 |
|
|
|
11,362 |
|
|
|
8,962 |
|
| Sales and
marketing |
|
|
1,487 |
|
|
|
1,098 |
|
|
|
5,040 |
|
|
|
4,344 |
|
| General
and administrative |
|
|
5,442 |
|
|
|
3,393 |
|
|
|
16,798 |
|
|
|
14,715 |
|
| Amortization
and depreciation |
|
|
1,439 |
|
|
|
846 |
|
|
|
3,955 |
|
|
|
3,306 |
|
|
Total operating expenses
|
|
|
19,448 |
|
|
|
12,045 |
|
|
|
58,429 |
|
|
|
45,488 |
|
| |
|
|
|
|
|
|
|
|
|
Operating income |
|
|
11,856 |
|
|
|
8,098 |
|
|
|
39,256 |
|
|
|
29,264 |
|
| Interest
income |
|
|
52 |
|
|
|
79 |
|
|
|
199 |
|
|
|
475 |
|
| Interest
expense |
|
|
(279 |
) |
|
|
(450 |
) |
|
|
(1,070 |
) |
|
|
(1,626 |
) |
| Other non-operating
income |
|
|
89 |
|
|
|
— |
|
|
|
89 |
|
|
|
— |
|
| Foreign
exchange gain |
|
|
464 |
|
|
|
451 |
|
|
|
1,358 |
|
|
|
586 |
|
| |
|
|
|
|
|
|
|
|
|
Income before income taxes
|
|
|
12,182 |
|
|
|
8,178 |
|
|
|
39,832 |
|
|
|
28,699 |
|
| Income tax
expense |
|
|
(85 |
) |
|
|
(267 |
) |
|
|
(1,010 |
) |
|
|
(1,385 |
) |
|
Net income |
|
$ |
12,097 |
|
|
$ |
7,911 |
|
|
$ |
38,822 |
|
|
$ |
27,314 |
|
| |
|
|
|
|
|
|
|
|
|
Basic earnings per common
share |
|
$ |
1.07 |
|
|
$ |
0.80 |
|
|
$ |
3.71 |
|
|
$ |
2.78 |
|
| |
|
|
|
|
|
|
|
|
|
Diluted earnings per common
share |
|
$ |
0.92 |
|
|
$ |
0.66 |
|
|
$ |
3.10 |
|
|
$ |
2.28 |
|
| |
|
|
|
|
|
|
|
|
| Basic weighted
average shares outstanding |
|
|
11,330 |
|
|
|
9,842 |
|
|
|
10,466 |
|
|
|
9,838 |
|
| |
|
|
|
|
|
|
|
|
| Diluted
weighted average shares outstanding |
|
|
13,198 |
|
|
|
12,290 |
|
|
|
12,671 |
|
|
|
12,260 |
|
| |
|
|
|
|
|
|
|
|
|
