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Ebix, Inc. and Subsidiaries
Financial Statement
Ebix, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except share amounts)
| March 31, | December 31, | |
|---|---|---|
| 2013 | 2012 | |
| ASSETS | (Unaudited) | |
| Current assets: | ||
| Cash and cash equivalents | $ 43,005 | $ 36,449 |
| Short-term investments | 778 | 971 |
| Trade accounts receivable, less allowances of $1,075 and $1,157, respectively | 39,533 | 37,298 |
| Deferred tax asset, net | 1,899 | 1,835 |
| Other current assets | 4,680 | 5,116 |
| Total current assets | 89,895 | 81,669 |
| Property and equipment, net | 9,676 | 10,082 |
| Goodwill | 326,223 | 326,748 |
| Intangibles, net Intangibles, net | 50,654 | 52,591 |
| Indefinite-lived intangibles | 30,887 | 30,887 |
| Deferred tax asset, net | 18,764 | 11,245 |
| Other assets | 3,654 | 3,724 |
| Total assets | $ 529,753 | $ 516,946 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable and accrued liabilities | $ 20,151 | $ 15,497 |
| Accrued payroll and related benefits | 4,800 | 5,431 |
| Short term debt | 9,625 | 11,344 |
| Contingent liability for accrued earn-out acquisition consideration | 2,406 | 3,265 |
| Current portion of long term debt and capital lease obligations, net of discount of $0 and $13, respectively | 905 | 915 |
| Deferred revenue | 19,584 | 19,888 |
| Current deferred rent | 226 | 237 |
| Other current liabilities | 74 | 113 |
| Total current liabilities | 57,771 | 56,690 |
| Revolving line of credit | 37,840 | 37,840 |
| Long term debt and capital lease obligations, less current portion, net of discount of $78 | 29,117 | 31,592 |
| Other liabilities | 6,471 | 6,429 |
| Contingent liability for accrued earn-out acquisition consideration | 14,027 | 14,230 |
| Put option liability | 1,105 | 1,186 |
| Deferred revenue | 270 | 375 |
| Long term deferred rent | 1,465 | 1,449 |
| Total liabilities | 148,066 | 148,066 |
| Temporary equity | 5,000 | 5,000 |
| Stockholders' equity: | ||
| Preferred stock, $0.10 par value, 500,000 shares authorized, no shares issued and outstanding at March 31, 2013 and December 31, 2012 | -- | -- |
| Common stock, $0.10 par value, 60,000,000 shares authorized, 37,208,639 issued and 37,168,130 outstanding at March 31, 2013 and 37,131,777 issued and 37,091,268 outstanding at December 31, 2012 | 3,717 | 3,709 |
| Additional paid-in capital | 164,838 | 164,346 |
| Treasury stock (40,509 shares as of March 31, 2013 and December 31, 2012) | (76) | (76) |
| Retained earnings | 215,644 | 201,094 |
| Accumulated other comprehensive loss | (7,436) | (6,918) |
| Total stockholders' equity | 376,687 | 362,155 |
| Total liabilities and stockholders' equity | $529,753 | $516,946 |
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