Financial Statement

Three Months Ended

Nine Months Ended

September 30,

September 30,

2016

2015

2016

2015

Operating revenue

$74,608

$66,813

$18,248

$195,278

Operating expenses:

Cost of services provided

22,425

17,809

62,606

55,993

Product development

8,563

8,338

24,913

22,673

Sales and marketing

4,463

3,805

13,002

10,795

General and administrative, net

12,126

12,128

37,019

34,995

Amortization and depreciation

2,738

2,765

8,088

7,932

Total operating expenses

50,315

44,845

145,628

132,388

Operating income

24,293

21,968

72,620

62,890

Interest income

635

62

1,219

167

Interest expense

(1,922)

(1,058)

(5,381)

(2,402)

Non-operating income, gain on joint venture investment

1,162

-

1,162

-

Foreign currency exchange gain

578

1,137

852

2,359

Income before income taxes

24,746

22,109

70,472

63,014

Income tax benefit (expense)

(789)

(1,877)

(1,121)

(5,410)

Net income including noncontrolling interest

23,957

20,232

69,351

57,604

Net income (loss) attributable to noncontrolling interest

(110)

-

133

-

Net income attributable to Ebix, Inc.

$24,067

$20,232

$69,218

$57,604

Basic earnings per common share attributable to Ebix, Inc.

$0.74

$0.59

$2.12

$1.65

Diluted earnings per common share attributable to Ebix, Inc.

$0.74

$0.59

$2.10

$1.63

Basic weighted average shares outstanding

32,421

34,304

32,716

35,014

Diluted weighted average shares outstanding

32,705

34,515

32,994

35,241