ATLANTA, GA – September 23, 2013 – Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance industry, today issued the following statement regarding a blog post recently published by Seeking Alpha:
The Company has reviewed the blog post prepared by anonymous blogger “Gotham City Research” that was published by Seeking Alpha on September 19, 2013. In all material respects, the contents of the post are false, misleading, inaccurate, and without merit. The Company further notes that many of the allegations made in this blog post are recycled from a prior posting by the same anonymous blogger. Ebix takes its financial and tax reporting responsibilities very seriously and is confident in the accuracy of its financial disclosures and tax filings. Our principal auditors, as well as our statutory auditors in each of the foreign jurisdictions in which the Company conducts operations, have issued unqualified opinions with respect to the Company’s financial statements.
Ebix has a strong balance sheet, a world class sales force and market-leading products. The Company remains focused on driving shareholder value by executing on its business strategy and will continue to work collaboratively with clients to develop innovative technology strategies and solutions that address specific business challenges.
About Ebix, Inc.
A leading international supplier of On-Demand software and E-commerce services
to the insurance industry, Ebix, Inc., (NASDAQ: EBIX) provides end-to-end solutions
ranging from infrastructure exchanges, carrier systems, agency systems and BPO
services to custom software development for all entities involved in the insurance
industry.
With 30+ offices across Brazil, Singapore, Australia, the US, New Zealand, India and Canada, Ebix powers multiple exchanges across the world in the field of life, annuity, health and property & casualty insurance while conducting in excess of $100 billion in insurance premiums on its platforms. Through its various SaaS-based software platforms, Ebix employs hundreds of insurance and technology professionals to provide products, support and consultancy to thousands of customers on six continents. For more information, visit the Company’s website at www.ebix.com
SAFE HARBOR REGARDING FORWARD-LOOKING STATEMENTS
We have made forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, in this press release, including, without
limitation, statements regarding the Company’s planned stock repurchase
program, recurring revenue base, free cash flow and contract pipeline. The words
"believes," "anticipates," "plans," "expects,"
"intends," "estimates," "seeks," "may"
and similar expressions are intended to identify forward-looking statements.
These forward-looking statements involve known and unknown risks, uncertainties
and other factors that could cause our actual results, performance and achievements,
to differ materially from any future results, performance or achievements expressed
or implied by such forward-looking statements.
Although we presently believe that the plans, expectations and results expressed in or suggested by the forward-looking statements are reasonable, all forward-looking statements are inherently subjective, uncertain and subject to change, as they involve substantial risks and uncertainties beyond our control, including, without limitation, our ability to execute repurchases of our shares on attractive terms, as well as the other risks and uncertainties discussed in our reports and other public filings with the SEC. This list of risks and uncertainties, however, is only a summary of some of the most important factors and is not intended to be exhaustive. New factors emerge from time to time, and it is not possible for us to predict the nature, or assess the potential impact, of each new factor on our business. Given these uncertainties, we caution you not to place undue reliance on these forward-looking statements. We undertake no obligation to update or revise any of our forward-looking statements for events or circumstances that arise after the statement is made, except as otherwise may be required by law. Additional information regarding risk factors that may affect us or these forward-looking statements is included under the caption "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2012 and subsequent filings with the SEC.
CONTACTS
Investors
Steven Barlow, Vice President - Investor Relations
678-281-2043 or steve.barlow@ebix.com
Aaron Tikkoo
678-281-2027 or atikkoo@ebix.com
Media
Tim Lynch / Jonathan Keehner
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449