Ebix Third Quarter EPS Rises to a Record $0.40 Per Share; Nine Months EPS Increases 54% to a Record $1.08 Per Share.

Publication: Business Wire

Bookmark this article Print this article Link to this article Email this article Digg It! Add to del.icio.us RSS

COPYRIGHT 2005 Business Wire

ATLANTA -- Ebix, Inc. (NASDAQ: EBIX), a leading international provider of software services and IT solutions to the insurance industry, today reported financial results for the third quarter (Q3 '05) and nine months ended September 30, 2005. Ebix will host a conference call and webcast to review the quarter tomorrow, Tuesday, November 1st at 10:00 a.m. EST. Both the call and webcast are open to the general public.

Telephone: Domestic - 800/256-6003; International - 415/908-4758

Live Webcast/Replay: available at http://www.ebix.com and archived for 90 days.

Ebix's total revenue for the quarter rose four percent to $5.9 million, compared to $5.7 million during the third quarter of 2004.

Ebix's operating income rose 13 percent to $1.1 million in the 2005 third quarter, compared to operating income of $1.0 million in the third quarter of 2004. The Company also reported a 25 percent increase and record quarterly net income of $1.2 million, or $0.40 per diluted share, in the third quarter of 2005, versus net income of $0.98 million, or $0.31 per diluted share, in the third quarter of 2004. Q3 '05 results were based on 3.1 million weighted average diluted shares outstanding during the period, approximately 0.1 million fewer than the comparable three-month period in 2004. The modest decrease in the weighted average reflects an initial benefit from the Company's repurchase of 200,000 shares, at $13.50 per share, in late April 2005.

For the first nine months of 2005, Ebix's total revenue rose 26 percent to $17.9 million, compared to $14.3 million in the first nine months of 2004.

Ebix's operating income rose 54 percent to $3.5 million in the first nine months of 2005, compared to operating income of $2.3 million in the first nine months of 2004. The Company's net income rose 58 percent to $3.4 million, or $1.08 per diluted share, in the first nine months of 2005, compared to net income of $2.1 million, or $0.70 per diluted share, in the first nine months of 2004. Results for...

Read the full article for free courtesy of your local library.