Insurance Software Solution | Insurance Software Development -Ebix

	Three Months Ended December 31,		Twelve Months Ended December 31,
	2013 (Unaudited)	2012 (Unaudited)	2013 (Unaudited)	2012 (Unaudited)
Operating revenue	$50,847	$54,023	$204,710	$199,370
Operating expenses:
Cost of services provided	10,086	10,447	40,471	38,133
Product development	6,414	7,637	26,798	24,825
Sales and marketing	4,085	4,233	15,848	16,687
General and administrative	9,808	8,862	36,480	33,562
Amortization and depreciation	2,648	2,584	10,107	9,155
Total operating expenses	33,041	33,763	129,704	122,362
Operating income	17,806	20,260	75,006	77,008
Interest income	175	76	518	441
Interest expense	(265)	(536)	(1,226)	(1,541)
Non-operating income (loss) - put options	1,592	(486)	342	190
Non-operating expense - securities litigation	—	—	(4,226)	—
Foreign currency exchange gain (loss)	64	172	(262)	1,931
Income before income taxes	19,372	19,486	70,152	78,029
Income tax expense	(4,127)	(741)	(10,878)	(7,460)
Net income	$15,245	$18,745	$59,274	$70,569
Basic earnings per common share	$0.40	$0.50	$1.58	$1.91
Diluted earnings per common share	$0.40	$0.48	$1.53	$1.80
Basic weighted average shares outstanding	38,043	37,216	37,588	36,948
Diluted weighted average shares outstanding	38,536	38,925	38,642	39,100

EBIX Inc
5 Concourse Parkway, Suite 3200, Atlanta, Georgia 30328
Ph: 678-281-2043 Fax: 678-281-2019
www.ebix.com
IR@ebix.com

Financial Statement