Financial Statement
Ebix, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
| December 31, | December 31, | ||||||||
| 2010 | 2009 | ||||||||
| (In thousands, | |||||||||
| except share amounts) | |||||||||
| ASSETS | |||||||||
| Current assets: | |||||||||
| Cash and cash equivalents | $ | 23,397 | $ | 19,227 | |||||
| Short-term investments | 6,300 | 1,799 | |||||||
|
Trade accounts receivable, less allowances of $1,126 and $565, respectively |
26,028 | 22,861 | |||||||
| Other current assets | 5,057 | 2,628 | |||||||
| Total current assets | 60,782 | 46,515 | |||||||
| Property and equipment, net | 7,806 | 7,865 | |||||||
| Goodwill | 180,602 | 157,245 | |||||||
| Intangibles, net | 22,574 | 20,505 | |||||||
| Indefinite-lived intangibles | 30,552 | 29,223 | |||||||
| Other assets | 984 | 814 | |||||||
| Total assets | $ | 303,300 | $ | 262,167 | |||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||||||||
| Current liabilities: | |||||||||
| Accounts payable and accrued liabilities | $ | 15,344 | $ | 11,060 | |||||
| Accrued payroll and related benefits | 4,536 | 3,634 | |||||||
| Short term debt | 5,000 | 23,100 | |||||||
|
Current portion of convertible debt,
net of discount of $56 |
|||||||||
| and $706, respectively | 4,944 | 28,681 | |||||||
|
Current portion of long term debt
and capital lease obligation |
426 | 596 | |||||||
| Deferred revenue | 8,610 | 7,754 | |||||||
| Other current liabilities | 225 | 272 | |||||||
| Total current liabilities | 39,085 | 75,097 | |||||||
| Revolving line of credit | 25,000 | — | |||||||
|
Other long term debt and capital lease obligation, less current portion |
205 | 671 | |||||||
| Other liabilities | 2,991 | 2,965 | |||||||
| Deferred tax liability, net | 3,534 | 5,147 | |||||||
| Put option liability | 537 | 6,596 | |||||||
| Deferred revenue | 126 | 269 | |||||||
| Deferred rent | 554 | 679 | |||||||
| Total liabilities | 72,032 | 91,424 | |||||||
| Stockholders' equity: | |||||||||
|
Convertible Series D Preferred stock,
$.10 par value, 500,000 |
|||||||||
|
shares authorized, no shares issued and outstanding at |
|||||||||
| December 31, 2010 and 2009 | — | — | |||||||
|
Common stock*, $.10 par value,
60,000,000 shares authorized, |
|||||||||
|
36,057,791 issued and 36,017,282
outstanding at December 31, |
|||||||||
|
2010 and 34,474,608 issued and
34,434,099 outstanding at |
|||||||||
|
December 31, 2009
|
3,602 | 3,443 | |||||||
| Additional paid-in capital | 153,221 | 158,404 | |||||||
|
Treasury stock* (179,235 shares
as of December 31, 2010 and |
|||||||||
|
December 31, 2009 respectively)
|
(76) | (76) | |||||||
| Retained earnings (accumulated deficit) | 67,642 | 8,623 | |||||||
| Accumulated other comprehensive income (loss) | 6,879 | 349 | |||||||
| Total stockholders' equity | 231,268 | 170,743 | |||||||
| Total liabilities and stockholders' equity | $ | 303,300 | $ | 262,167 | |||||
| * Adjusted for all periods presented to reflect the effect of the 3-for-1 stock split dated January 4, 2010 | |||||||||
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