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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Ebix Inc | NASDAQ:EBIX | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.16 | 1.18 | 1.20 | 0 | 01:00:00 |
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QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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For the quarterly period ended March 31, 2016
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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DELAWARE
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77-0021975
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(State or other jurisdiction of incorporation or
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(I.R.S. Employer Identification No.)
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organization)
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1 EBIX WAY
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JOHNS CREEK, GEORGIA
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30097
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(Address of principal executive offices)
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(Zip Code)
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Large accelerated filer
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Accelerated filer
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Non-accelerated filer
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(Do not check if a smaller reporting company)
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Smaller reporting company
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Exhibit 31.1
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Exhibit 31.2
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Exhibit 32.1
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Exhibit 32.2
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Exhibit 101
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Three Months Ended
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||||||
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March 31,
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||||||
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2016
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2015
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||||
Operating revenue
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$
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71,066
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$
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63,753
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Operating expenses:
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Cost of services provided
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19,602
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19,485
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Product development
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8,065
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7,047
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Sales and marketing
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4,333
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3,379
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General and administrative, net (see Note 3)
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11,583
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10,746
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Amortization and depreciation
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2,720
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2,597
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Total operating expenses
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46,303
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43,254
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Operating income
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24,763
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20,499
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Interest income
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143
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61
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Interest expense
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(1,274
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)
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(719
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Foreign currency exchange gain
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469
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892
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Income before income taxes
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24,101
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20,733
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Income tax expense
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(1,750
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)
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(2,397
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)
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Net income including noncontrolling interest
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22,351
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18,336
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Net income attributable to noncontrolling interest (see Note 8)
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192
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—
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Net income attributable to Ebix, Inc.
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$
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22,159
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$
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18,336
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Basic earnings per common share attributable to Ebix, Inc.
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$
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0.67
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$
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0.51
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Diluted earnings per common share attributable to Ebix, Inc.
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$
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0.67
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$
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0.51
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Basic weighted average shares outstanding
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33,043
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35,708
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Diluted weighted average shares outstanding
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33,310
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35,954
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Three Months Ended
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||||||
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March 31,
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2016
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2015
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Net income including noncontrolling interest
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$
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22,351
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$
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18,336
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Other comprehensive income (loss):
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Foreign currency translation adjustments
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1,657
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(5,400
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)
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Total other comprehensive income (loss)
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1,657
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(5,400
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)
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Comprehensive income
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$
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24,008
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$
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12,936
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Comprehensive income attributable to noncontrolling interest (see Note 8)
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192
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—
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Comprehensive income attributable to Ebix, Inc.
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$
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23,816
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$
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12,936
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March 31,
2016 |
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December 31,
2015 |
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ASSETS
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(Unaudited)
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Current assets:
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Cash and cash equivalents
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$
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69,020
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$
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57,179
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Short-term investments
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2,308
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1,538
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Trade accounts receivable, less allowances of $1,046 and $3,388, respectively
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56,503
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47,171
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Other current assets
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11,423
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10,942
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Total current assets
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139,254
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116,830
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Property and equipment, net
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34,154
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34,088
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Goodwill
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403,210
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402,259
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Intangibles, net
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50,141
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51,848
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Indefinite-lived intangibles
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30,887
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30,887
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Capitalized software development costs, net
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3,226
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3,489
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Deferred tax asset, net
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23,892
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23,732
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Other assets
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12,636
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12,856
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Total assets
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$
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697,400
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$
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675,989
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LIABILITIES AND STOCKHOLDERS’ EQUITY
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Current liabilities:
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Accounts payable and accrued liabilities
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$
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14,687
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$
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23,043
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Accrued payroll and related benefits
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5,747
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4,932
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Current portion of long term debt and capital lease obligations, net of discount of $0 and $3, respectively
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608
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606
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Current deferred rent
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246
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232
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Contingent liability for accrued earn-out acquisition consideration
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2,143
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1,706
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Deferred revenue
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20,557
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20,519
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Other current liabilities
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248
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228
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Total current liabilities
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44,236
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51,266
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Revolving line of credit
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226,465
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206,465
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Long term debt and capital lease obligations, less current portion
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33
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35
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Other liabilities
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3,324
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3,332
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Contingent liability for accrued earn-out acquisition consideration
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1,599
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2,571
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Deferred revenue
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3,275
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1,968
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Long term deferred rent
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1,269
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1,381
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Total liabilities
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280,201
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267,018
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Commitments and Contingencies, Note 5
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Stockholders’ equity:
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Preferred stock, $0.10 par value, 500,000 shares authorized, no shares issued and outstanding at March 31, 2016 and December 31, 2015
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—
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—
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Common stock, $0.10 par value, 60,000,000 shares authorized, 32,977,713 issued and outstanding, at March 31, 2016 and 33,416,110 issued and outstanding at December 31, 2015
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3,298
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3,342
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Additional paid-in capital
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43,806
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57,120
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Treasury stock (no shares as of March 31, 2016 and December 31, 2015)
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—
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—
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Retained earnings
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398,524
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378,787
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Accumulated other comprehensive loss
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(28,621
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)
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(30,278
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)
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Total Ebix, Inc. stockholders’ equity
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417,007
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408,971
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Noncontrolling interest (see Note 8)
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192
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—
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Total stockholder's equity
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$
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417,199
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$
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408,971
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Total liabilities and stockholders’ equity
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$
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697,400
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$
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675,989
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Common Stock
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|||||||||||||||
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Issued
Shares
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Amount
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Additional Paid-in
Capital
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Retained
Earnings
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Accumulated Other Comprehensive
Loss
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Noncontrolling interest
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Total
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|||||||||||||
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|||||||||||||
Balance, December 31, 2015
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33,416,110
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$
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3,342
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$
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57,120
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$
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378,787
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$
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(30,278
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)
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$
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—
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$
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408,971
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Net income attributable to Ebix, Inc.
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—
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—
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—
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22,159
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—
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—
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22,159
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||||||
Net income attributable to noncontrolling interest (see Note 8)
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192
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192
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|||||||||||
Cumulative translation adjustment
|
—
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|
—
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—
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—
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1,657
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—
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1,657
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||||||
Repurchase and retirement of common stock
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(465,560
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)
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(47
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)
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(13,921
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)
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—
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(13,968
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)
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|||||||
Vesting of restricted stock
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15,478
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|
2
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(2
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)
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—
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—
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—
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—
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||||||
Exercise of stock options
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13,500
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1
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|
|
28
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—
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—
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—
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|
29
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||||||
Share based compensation
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—
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—
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|
647
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—
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—
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—
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|
647
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||||||
Tax benefit related to share-based compensation
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—
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—
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—
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—
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—
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—
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—
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||||||
Forfeiture of certain shares to satisfy exercise costs and the recipients income tax obligations related to stock options exercised and restricted stock vested
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(1,815
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)
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—
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(66
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)
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—
|
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|
—
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|
|
—
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|
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(66
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)
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||||||
Dividends paid
|
—
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|
|
—
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|
|
—
|
|
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(2,422
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)
|
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—
|
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—
|
|
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(2,422
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)
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||||||
Balance, March 31, 2016
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32,977,713
|
|
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$
|
3,298
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|
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$
|
43,806
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$
|
398,524
|
|
|
$
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(28,621
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)
|
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$
|
192
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|
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$
|
417,199
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|
|
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Three Months Ended
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||||||
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March 31,
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||||||
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2016
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|
2015
|
||||
Cash flows from operating activities:
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|
||||
Net income attributable to Ebix, Inc.
|
$
|
22,159
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|
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$
|
18,336
|
|
Net income attributable to noncontrolling interest
|
192
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|
|
—
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Adjustments to reconcile net income to net cash provided by operating activities:
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||||
Depreciation and amortization
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2,720
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2,597
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Benefit for deferred taxes
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(165
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)
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|
(161
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)
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Share based compensation
|
647
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|
458
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Provision for doubtful accounts
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(241
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)
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9
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Debt discount amortization on promissory note payable
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—
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7
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Unrealized foreign exchange gain
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(48
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)
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|
(672
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)
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Amortization of capitalized software development costs
|
326
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|
|
—
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Reduction of acquisition earnout accruals
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(511
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)
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—
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Changes in assets and liabilities, net of effects from acquisitions:
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||||
Accounts receivable
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(8,669
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)
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(4,689
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)
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Other assets
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(220
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)
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|
(1,250
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)
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||
Accounts payable and accrued expenses
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(7,563
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)
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|
(21,215
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)
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Accrued payroll and related benefits
|
717
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|
(564
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)
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Deferred revenue
|
1,258
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|
|
308
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|
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Deferred rent
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(80
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)
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|
(68
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)
|
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Reserve for potential uncertain income tax return positions
|
50
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|
|
87
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|
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Liability - securities litigation settlement payment
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—
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|
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(690
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)
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Other liabilities
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(38
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)
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|
165
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|
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Net cash provided (used) by operating activities
|
10,534
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(7,342
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)
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Cash flows from investing activities:
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Acquisition of Via Media Health, net of cash acquired
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—
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(1,000
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)
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Capitalized software development costs
|
(144
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)
|
|
—
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Purchases of marketable securities
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(596
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)
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—
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Capital expenditures
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(1,028
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)
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|
(5,778
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)
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Net cash used in investing activities
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(1,768
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)
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(6,778
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)
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Cash flows from financing activities:
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|
|
|
||||
Proceeds from revolving line of credit, net
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20,000
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|
|
15,000
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|
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Repurchases of common stock
|
(14,787
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)
|
|
(22,282
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)
|
||
Excess tax benefit from share-based compensation
|
—
|
|
|
31
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|
||
Proceeds from the exercise of stock options
|
29
|
|
|
1,117
|
|
||
Forfeiture of certain shares to satisfy exercise costs and the recipients income tax obligations related to stock options exercised and restricted stock vested
|
(66
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)
|
|
(1,117
|
)
|
||
Dividend payments
|
(2,422
|
)
|
|
(2,729
|
)
|
||
Principal payments of debt obligations
|
—
|
|
|
(12
|
)
|
||
Net cash provided by (used in) financing activities
|
2,754
|
|
|
(9,992
|
)
|
||
Effect of foreign exchange rates on cash
|
321
|
|
|
(991
|
)
|
||
Net change in cash and cash equivalents
|
11,841
|
|
|
(25,103
|
)
|
||
Cash and cash equivalents at the beginning of the period
|
57,179
|
|
|
52,300
|
|
||
Cash and cash equivalents at the end of the period
|
$
|
69,020
|
|
|
$
|
27,197
|
|
Supplemental disclosures of cash flow information:
|
|
|
|
||||
Interest paid
|
$
|
1,987
|
|
|
$
|
2,335
|
|
Income taxes paid
|
$
|
7,015
|
|
|
$
|
20,163
|
|
|
|
Three Months Ended
|
||||||
|
|
March 31,
|
||||||
(dollar amounts in thousands)
|
|
2016
|
|
2015
|
||||
Exchanges
|
|
$
|
50,086
|
|
|
$
|
46,678
|
|
Broker Systems
|
|
3,212
|
|
|
3,736
|
|
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Risk Compliance Solutions (“RCS”)
|
|
16,751
|
|
|
12,175
|
|
||
Carrier Systems
|
|
1,017
|
|
|
1,164
|
|
||
Totals
|
|
$
|
71,066
|
|
|
$
|
63,753
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•
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Level 1 Inputs
- Unadjusted quoted prices available in active markets for identical investments to the reporting entity at the measurement date
|
•
|
Level 2 Inputs
- Other than quoted prices included in Level 1 inputs, that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability.
|
•
|
Level 3 Inputs
- Unobservable inputs, which are used to the extent that observable inputs are not available, and used in situations where there is little or no market activity for the asset or liability and wherein the reporting entity makes estimates and assumptions related to the pricing of the asset or liability including assumptions regarding risk.
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•
|
Short-term investments for which the fair values are measured as a Level 1 instrument.
|
•
|
Contingent accrued earn-out business acquisition consideration liabilities for which fair values are measured as Level 3 instruments. These contingent consideration liabilities were recorded at fair value on the acquisition date and are remeasured quarterly based on the then assessed fair value and adjusted if necessary. The increases or decreases in the fair value of contingent consideration payable can result from changes in anticipated revenue levels and changes in assumed discount periods and rates. As the fair value measure is based on significant inputs that are not observable in the market, they are categorized as Level 3.
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|
|
|
|
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|
|
(in thousands)
|
|
Fair Value at March 31, 2016
|
|
Valuation Technique
|
|
Significant Unobservable
Input
|
Contingent acquisition consideration:
(Qatarlyst, PB Systems, and Via Media acquisitions)
|
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$3,742
|
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Discounted cash flow
|
|
Projected revenue and probability of achievement
|
|
|
|
|
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(in thousands)
|
|
Fair Value at December 31, 2015
|
|
Valuation Technique
|
|
Significant Unobservable
Input
|
Contingent acquisition consideration:
(Qatarlyst, Vertex, PB Systems, and Via Media acquisitions)
|
|
$4,277
|
|
Discounted cash flow
|
|
Projected revenue and probability of achievement
|
|
March 31, 2016
|
|
December 31, 2015
|
||||
|
(In thousands)
|
||||||
Beginning Balance
|
$
|
402,259
|
|
|
$
|
402,220
|
|
Additions
|
—
|
|
|
8,868
|
|
||
Purchase accounting adjustments for prior year acquisitions
|
—
|
|
|
(2,099
|
)
|
||
Contributed portions of CurePet investment to Joint Venture, see Note 9,
"Investment in Joint Venture"
|
—
|
|
|
(1,783
|
)
|
||
Foreign currency translation adjustments
|
951
|
|
|
(4,947
|
)
|
||
Ending Balance
|
$
|
403,210
|
|
|
$
|
402,259
|
|
Category
|
|
Life (yrs)
|
Customer relationships
|
|
7–20
|
Developed technology
|
|
3–12
|
Trademarks
|
|
3–15
|
Non-compete agreements
|
|
5
|
Backlog
|
|
1.2
|
Database
|
|
10
|
|
March 31,
2016 |
|
December 31,
2015 |
||||
|
(In thousands)
|
||||||
Finite-lived intangible assets:
|
|
|
|
||||
Customer relationships
|
$
|
76,373
|
|
|
$
|
76,275
|
|
Developed technology
|
15,129
|
|
|
15,121
|
|
||
Trademarks
|
2,722
|
|
|
2,729
|
|
||
Non-compete agreements
|
764
|
|
|
743
|
|
||
Backlog
|
140
|
|
|
140
|
|
||
Database
|
212
|
|
|
212
|
|
||
Total intangibles
|
95,340
|
|
|
95,220
|
|
||
Accumulated amortization
|
(45,199
|
)
|
|
(43,372
|
)
|
||
Finite-lived intangibles, net
|
$
|
50,141
|
|
|
$
|
51,848
|
|
|
|
|
|
||||
Indefinite-lived intangibles:
|
|
|
|
||||
Customer/territorial relationships
|
$
|
30,887
|
|
|
$
|
30,887
|
|
•
|
For completed contracts, an entity need not restate contracts that begin and end within the same annual reporting period.
|
•
|
For completed contracts that have variable consideration, an entity may use the transaction price at the date the contract was completed rather than estimating variable consideration amounts in the comparative reporting periods.
|
•
|
For all reporting periods presented before the date of initial application, an entity need not disclose the amount of the transaction price allocated to remaining performance obligations and an explanation of when the entity expects to recognize that amount as revenue.
|
•
|
The amount by which each financial statement line item is affected in the current reporting period by the application of this ASU as compared to the guidance that was in effect before the change.
|
•
|
An explanation of the reasons for significant changes.
|
|
Three Months Ended
|
||||||
|
March 31,
|
||||||
|
2016
|
|
2015
|
||||
|
(In thousands, except per share data)
|
||||||
Net income attributable to Ebix, Inc.
|
$
|
22,159
|
|
|
$
|
18,336
|
|
Basic Weighted Average Shares Outstanding
|
33,043
|
|
|
35,708
|
|
||
Dilutive effect of stock options and restricted stock awards
|
267
|
|
|
246
|
|
||
Diluted weighted average shares outstanding
|
33,310
|
|
|
35,954
|
|
||
Basic earnings per common share
|
$
|
0.67
|
|
|
$
|
0.51
|
|
Diluted earnings per common share
|
$
|
0.67
|
|
|
$
|
0.51
|
|
|
Three Months Ended March 31, 2016
|
|
Three Months Ended March 31, 2015
|
||||||||||
|
As Reported
|
Pro Forma
|
|
As Reported
|
Pro Forma
|
||||||||
|
(unaudited)
|
|
(unaudited)
|
||||||||||
|
(In thousands, except per share data)
|
||||||||||||
Revenue
|
$
|
71,066
|
|
$
|
71,066
|
|
|
$
|
63,753
|
|
$
|
66,531
|
|
Net Income attributable to Ebix, Inc.
|
$
|
22,159
|
|
$
|
22,159
|
|
|
$
|
18,336
|
|
$
|
17,660
|
|
Basic EPS
|
$
|
0.67
|
|
$
|
0.67
|
|
|
$
|
0.51
|
|
$
|
0.49
|
|
Diluted EPS
|
$
|
0.67
|
|
$
|
0.67
|
|
|
$
|
0.51
|
|
$
|
0.49
|
|
|
United States
|
|
Canada
|
|
Latin America
|
|
Australia
|
|
Singapore
|
|
New Zealand
|
|
India
|
|
Europe
|
|
Total
|
||||||||||||||||||
External Revenues
|
$
|
52,796
|
|
|
$
|
847
|
|
|
$
|
1,137
|
|
|
$
|
7,792
|
|
|
$
|
1,434
|
|
|
$
|
391
|
|
|
$
|
2,026
|
|
|
$
|
4,643
|
|
|
$
|
71,066
|
|
Long-lived assets
|
$
|
372,004
|
|
|
$
|
6,968
|
|
|
$
|
6,708
|
|
|
$
|
171
|
|
|
$
|
68,718
|
|
|
$
|
221
|
|
|
$
|
76,789
|
|
|
$
|
26,567
|
|
|
$
|
558,146
|
|
|
United States
|
|
Canada
|
|
Latin America
|
|
Australia
|
|
Singapore
|
|
New Zealand
|
|
India
|
|
Europe
|
|
Total
|
||||||||||||||||||
External Revenues
|
$
|
48,537
|
|
|
$
|
685
|
|
|
$
|
1,496
|
|
|
$
|
8,678
|
|
|
$
|
1,047
|
|
|
$
|
578
|
|
|
$
|
989
|
|
|
$
|
1,743
|
|
|
$
|
63,753
|
|
Long-lived assets
|
$
|
384,092
|
|
|
$
|
7,164
|
|
|
$
|
7,708
|
|
|
$
|
524
|
|
|
$
|
68,493
|
|
|
$
|
319
|
|
|
$
|
37,426
|
|
|
$
|
24,507
|
|
|
$
|
530,233
|
|
|
March 31, 2016
|
|
December 31, 2015
|
||||
|
(In thousands)
|
||||||
Reserve for potential uncertain income tax return positions
|
$
|
3,165
|
|
|
$
|
3,115
|
|
Portion of an unrecognized tax benefit netted against deferred tax asset for a net operating loss carryforward
|
$
|
(341
|
)
|
|
$
|
(341
|
)
|
Sub-leased office liability (net of future sublease proceeds)
|
500
|
|
|
558
|
|
||
Total
|
$
|
3,324
|
|
|
$
|
3,332
|
|
|
March 31, 2016
|
|
December 31, 2015
|
||||
|
(In thousands)
|
||||||
Prepaid expenses
|
$
|
8,527
|
|
|
$
|
8,290
|
|
Sales taxes receivable from customers
|
89
|
|
|
120
|
|
||
Due from prior owners of acquired businesses for working capital settlements
|
997
|
|
|
1,021
|
|
||
Research and development tax credits receivable
|
514
|
|
|
898
|
|
||
Payroll taxes overpayment receivable
|
640
|
|
|
—
|
|
||
Other
|
656
|
|
|
613
|
|
||
Total
|
$
|
11,423
|
|
|
$
|
10,942
|
|
•
|
Regarding Note 4 of the Notes to the Condensed Consolidated Financial Statements, "Debt with Commercial Bank" and our future liquidity needs discussed under “Liquidity and Financial Condition” as pertaining to our ability to generate cash from operating activities and any declines in our credit ratings or financial condition which could restrict our access to the capital markets or materially increase our financing costs;
|
•
|
With respect to Note 5 of the Notes to the Condensed Consolidated Financial Statements, “Commitments and Contingencies”, and “Contractual Obligations and Commercial Commitments” in MD&A, as regarding the ultimate actual cost of our contractual commitments and contingencies;
|
•
|
With respect to Note 3 of the Condensed Notes to the Condensed Consolidated Financial Statements as pertaining to the business acquisitions we have made and our ability to efficiently and effectively integrate acquired business operations;
|
•
|
With respect to this Management Discussion & Analysis of Financial Condition and Results of Operation and the analysis of the three month revenue trends including the actual realized level of demand for our products during the immediately foreseeable future.
|
|
|
Three Months Ended
|
||||||
|
|
March 31,
|
||||||
(dollar amounts in thousands)
|
|
2016
|
|
2015
|
||||
Exchanges
|
|
$
|
50,086
|
|
|
$
|
46,678
|
|
Broker Systems
|
|
3,212
|
|
|
3,736
|
|
||
Risk Compliance Solutions (“RCS”)
|
|
16,751
|
|
|
12,175
|
|
||
Carrier Systems
|
|
1,017
|
|
|
1,164
|
|
||
Totals
|
|
$
|
71,066
|
|
|
$
|
63,753
|
|
•
|
2016 and 2015 pro forma revenue contains actual revenue of the acquired entities before acquisition date, as reported by the sellers, as well as actual revenue of the acquired entities after acquisition, whereas the reported growth in revenues of the acquired entities after acquisition date are only reflected for the period after their acquisition.
|
•
|
Revenue billed to existing clients from the cross selling of acquired products has been assigned to the acquired section of our business.
|
•
|
Any existing products sold to new customers obtained through a newly acquired customer base, are assigned to the acquired section of our business.
|
•
|
Pro formas do not include post acquisition revenue reductions as a result of discontinuation of any product lines and/or customer projects by Ebix in its bid to maximize profitability.
|
|
United States
|
|
Canada
|
|
Latin America
|
|
Australia
|
|
Singapore
|
|
New Zealand
|
|
India
|
|
Europe
|
|
Sweden
|
|
Total
|
||||||||||||||||||||
Cash and ST investments
|
$
|
17,901
|
|
|
$
|
1,576
|
|
|
$
|
1,779
|
|
|
$
|
7,753
|
|
|
$
|
18,911
|
|
|
$
|
3,010
|
|
|
$
|
18,559
|
|
|
$
|
1,862
|
|
|
$
|
13
|
|
|
$
|
71,364
|
|
|
Total Number of Shares (Units) Purchased
|
|
Total Number of Shares Purchased as Part of
Publicly-Announced Plans or Programs |
|
Average Price Paid Per Share (1)
|
|
Maximum Number (or
Approximate Dollar Value) of Shares that May Yet Be Purchased Under the Plans or Programs (2) (3) |
||||||
Period
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
||||||
As of December 31, 2015 (3)
|
10,777,820
|
|
|
10,777,820
|
|
|
$
|
—
|
|
|
$
|
88,558,000
|
|
January 1, 2016 to January 31, 2016
|
377,037
|
|
|
377,037
|
|
|
$
|
29.67
|
|
|
$
|
77,371,000
|
|
February 1, 2016 to February 29, 2016
|
88,523
|
|
|
88,523
|
|
|
$
|
31.41
|
|
|
$
|
74,590,000
|
|
March 1, 2016 to March 31, 2016
|
—
|
|
|
—
|
|
|
$
|
—
|
|
|
$
|
74,590,000
|
|
Total
|
11,243,380
|
|
|
11,243,380
|
|
|
|
|
$
|
74,590,000
|
|
(1)
|
Average price paid per share for shares purchased as part of our publicly-announced plan.
|
(2)
|
Effective August 19, 2015 the Company's Board of Directors unanimously approved an additional authorized share repurchase plan of $100.0 million. The Board directed that the repurchases be funded with available cash balances and cash generated by the Company's operating activities. Under certain circumstances the aggregate amount of repurchases of the Company's equity shares may be limited by the terms and underlying financial covenants regarding the Company's commercial bank financing facility.
|
(3)
|
As of December 31, 2015 there were 25,000 shares totaling $820 thousand of share repurchases that were not settled until January 2016.
|
|
|
|
|
|
|
|
|
Ebix, Inc.
|
|
||
Date:
|
May 10, 2016
|
By:
|
/s/ Robin Raina
|
|
|
|
|
|
Robin Raina
|
|
|
|
|
|
Chief Executive Officer
(Principal Executive Officer)
|
|
|
|
|
|
|
||
Date:
|
May 10, 2016
|
By:
|
/s/ Robert F. Kerris
|
|
|
|
|
|
Robert F. Kerris
|
|
|
|
|
|
Chief Financial Officer
(Principal Financial and Accounting Officer)
|
|
Exhibits
|
|
|
3.1
|
Certificate of Incorporation, as amended, of Ebix, Inc. (filed as Exhibit 3.1 to the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2009 and incorporated herein by reference).
|
|
3.3
|
Amended and Restated Bylaws of Ebix, Inc., effective immediately following the Company’s Annual Meeting of Stockholders, held on January 9, 2015 (incorporated by reference to Exhibit 3.1 to the Company's Current Report on Form 8-K dated December 24, 2014).
|
|
31.1*
|
Certification of Chief Executive Officer Pursuant to Rule 13a-14(a) (Section 302 of the Sarbanes-Oxley Act of 2002).
|
|
31.2*
|
Certification of Chief Financial Officer Pursuant to Rule 13a-14(a) (Section 302 of the Sarbanes-Oxley Act of 2002).
|
|
32.1*
|
Certification of Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
|
32.2*
|
Certification of Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
|
|
101**
|
XBRL (Extensible Business Reporting Language) - The following materials from Ebix, Inc.'s Quarterly Report on Form 10-Q for the quarter ended March 31, 2016, formatted in XBRL (eXtensible Business Reporting Language): (i) the Consolidated Balance Sheets, (ii) the Consolidated Statements of Income, (iii) the Consolidated Statement of Stockholders' Equity and Comprehensive Income, (iv) the Consolidated Statements of Cash Flows, and (v) Notes to Consolidated Financial Statements which were tagged as blocks of text.
|
* Filed herewith
|
|
|
*
*
Exhibit 101 to this Quarterly Report on Form 10-Q is furnished and not filed for purposes of Sections 11 and 12 of the Securities Act of 1933 and Section 18 of the Securities Exchange Act of 1934.
|
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