Financial Statement
Ebix, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
|
December 31, 2009 |
December 31, 2008 |
|||||||
| (Unaudited) | (Audited) | |||||||
|
(In thousands,
|
||||||||
| except share amounts) | ||||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 19,227 | $ | 9,475 | ||||
| Short-term investments | 1,799 | 1,536 | ||||||
|
Trade accounts receivable,
less allowances of $565 and $453 respectively |
22,861 | 13,562 | ||||||
| Other current assets | 2,628 | 951 | ||||||
| Total current assets | 46,515 | 25,524 | ||||||
| Property and equipment, net | 7,865 | 3,774 | ||||||
| Goodwill | 154,045 | 88,488 | ||||||
| Intangibles, net | 29,223 | 10,235 | ||||||
| Indefinite-lived intangibles | 20,505 | 11,589 | ||||||
| Other assets | 814 | 1,557 | ||||||
| Total assets | $ | 258,967 | $ | 141,167 | ||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable and accrued liabilities | $ | 7,478 | $ | 8,245 | ||||
| Accrued payroll and related benefits | 3,634 | 2,709 | ||||||
| Short term debt | 23,100 | 24,945 | ||||||
|
Current portion of convertible debt,
net of discount of $706 and $0, respectively |
28,681 | 11,518 | ||||||
| Current portion of long term debt and capital lease obligation | 596 | 912 | ||||||
| Deferred revenue | 7,754 | 5,383 | ||||||
| Other current liabilities | 272 | 142 | ||||||
| Total current liabilities | 71,515 | 53,854 | ||||||
| Convertible debt | — | 15,000 | ||||||
|
Other long term debt and capital lease
obligation, less current portion |
671 | 290 | ||||||
| Other liabilities | 2,965 | 941 | ||||||
| Deferred tax liability, net | 5,529 | — | ||||||
| Put option liability | 6,596 | — | ||||||
| Deferred revenue | 269 | 330 | ||||||
| Deferred rent | 679 | 610 | ||||||
| Total liabilities | 88,224 | 71,025 | ||||||
| Stockholders' equity: | ||||||||
|
Convertible Series D Preferred stock,
$.10 par value, 500,000 shares authorized, no shares issued and outstanding at December 31, 2009 and 2008 |
— | — | ||||||
|
Common stock, $.10 par value, 20,000,000 shares authorized, 11,491,536 issued and 11,478,033 outstanding at December 31, 2009 and 10,006,455 issued and 9,946,710 outstanding at December 31, 2008 |
1,148 | 981 | ||||||
| Additional paid-in capital | 160,699 | 111,641 | ||||||
|
Treasury stock (13,503 and
59,745 shares repurchased as of December 31, 2009 and December 31, 2008 respectively) |
(76) | (1,178) | ||||||
| Accumulated earnings (deficit) | 8,623 | (30,199 | ||||||
| Accumulated other comprehensive income (loss) | 349 | (11,103) | ||||||
| Total stockholders' equity | 170,743 | 70,142 | ||||||
| Total liabilities and stockholders' equity | $ | 258,967 | $ | 141,167 | ||||
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