Ebix Announces Fourth Quarter and Full Year 2012 Results
Quarterly Revenue of $54.0 Million, up 23% Year-Over-Year
Full Year Revenue of $199.4 Million, up 18% Year-Over-Year
Q4 Diluted EPS of $0.48, up 9% Year-Over-Year
Full Fiscal Year Diluted EPS of $1.80, up 3% Year-Over-Year
ATLANTA, GA - March 14, 2013 - Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance industry, today reported results for the fiscal fourth quarter and full year ended December 31, 2012. Ebix will host a conference call at 11:00 a.m. EDT (details below)
“The Company's 2012 results reflect the strength of Ebix's core businesses that helped us deliver outstanding results in one of the most challenging years for the insurance industry in a decade,” said Robin Raina, Chairman, President and CEO, Ebix Inc. “Our revenue, operating cash flow, liquidity and diluted EPS were all at record levels as we look forward to continued high levels of performance in 2013.”
Ebix delivered the following results for the fourth quarter and full year of 2012:
Revenues: Total Q4 2012 revenue was $54.0 million, an increase of 22.6% on a year-over-year basis, as compared to Q4 2011 revenue of $44.1 million.
For the full fiscal year of 2012, the company reported revenue of $199.4 million, an increase of 18.0% from the prior year revenues of $169.0 million.
Earnings per Share: Q4 2012 diluted earnings per share rose 9% year-over-year to $0.48, as compared to $0.44 in the fourth quarter of 2012. For purposes of the Q4 2012 EPS calculation, there was an average of 38.9 million diluted shares outstanding during the quarter, as compared to 39.4 million diluted shares outstanding in Q4 of 2011.
For the full year of 2012, diluted earnings per share rose 3% year-over-year to $1.80 from $1.75 in 2011. For purposes of the EPS calculation, there was an average of approximately 39.1 million diluted shares outstanding during the year 2011 as compared to an average of 40.9 million diluted shares outstanding in 2011.
Operating Cash: Cash generated from operations for the fiscal fourth quarter was $18.3 million, down 5% year-over-year due primarily to the payment of certain acquisition earnout liabilities. For the full year, operating cash flow totaled $72.3 million in 2012, up 2% year-over-year as compared to $70.6 million in 2011.
Margins: In 2012, the Company achieved gross margins of 81% compared to 80% in 2011. Operating margins for 2012 were slightly lower at 39% as compared to 41% for 2011 due to business acquisitions made in 2012, which were not at the same operating margins as Ebix's legacy businesses when acquired.
Diversified Revenue Base: Ebix continued to have highly diversified revenue streams across thousands of clients, with the largest client accounting for only 2.5% of the Company's 2012 revenues.
The following information was filed by Ebix Inc (EBIX) on Monday, March 18, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.