Financial Statement

Three Months Ended

Twelve Months Ended

December 31,

December 31,

2016

2015

2016

2015

(Unaudited)

(Unaudited)

(Unaudited)

(Audited)

Operating revenue

$

80,046

$

    70,204

$

298,294

$

265,482

Operating expenses:

Cost of services provided

22,522

16,444

85,128

72,437

Product development

8,068

8,029

32,981

30,702

Sales and marketing

4,467

4,122

17,469

14,917

General and administrative (net)

14,670

13,083

51,689

48,078

Amortization and depreciation

2,658

2,702

10,746

10,634

Total operating expenses

52,385

44,380

198,013

176,768

Operating income

27,661

25,824

100,281

88,714

Interest income

632

64

1,851

231

Interest expense

(1,995

)

(1,909

)

(7,376

)

(4,311

)

Non-operating income – (loss)

—

—

1,162

—

Foreign currency exchange gain (loss)

(839

)

(354

)

13

2,005

Income before income taxes

25,459

23,625

95,931

86,639

Income tax expense

(516

)

(1,696

)

(1,637

)

(7,106

)

Net income including noncontrolling interest

24,943

21,929

94,294

79,533

Net income attributable to noncontrolling interest

314

—

447

—

Net income attributable to Ebix, Inc.

$

24,629

$

21,929

$

93,847

$

79,533

Basic earnings per common share

$

0.76

$

0.65

$

2.88

$

2.29

Diluted earnings per common share

$

0.76

$

0.65

$

2.86

$

2.28

Basic weighted average shares outstanding

32,279

33,678

32,603

34,668

Diluted weighted average shares outstanding

32,483

33,931

32,863

34,901