Operating Income Rose 15% to $27.9M and Diluted EPS Rose 4% to $0.76
JOHNS CREEK, GA - November 8, 2017 - Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, e-governance and healthcare industries, today reported results for its third quarter ended September 30, 2017. Ebix will host a conference call to review its results today at 11:00 a.m. EDT (details below).
Ebix delivered the following results for the third quarter of 2017:
Revenues: Q3 2017 revenue rose 24% to $92.8 million compared to $74.6 million in Q3 2016 and increased 6% over Q2 2017 revenue of $87.4 million. The revenue improvement reflected growth in the Company’s Exchange and Risk Compliance channels, with the revenues from the Financial Exchange service in India, reflected in the Exchange channel.
Q3 and Q2 2017 both included a full quarter of revenues from EbixCash Financial Exchange with Q3 2017 revenues of $11.1 million versus $8.4 million in Q2 of 2017. Q3 2017 results also included one month of revenues totaling $0.54 million, from the acquisition of the YouFirst inward remittance business in India. Revenues from the acquisitions of Paul Merchants, Wall Street and Via will be reflected in Q4 2017 results.
On a constant currency basis, Ebix Q3 2017 revenue increased 23% to $91.6 million compared to $74.6 million in Q3 2016. The Exchange channel continued to be Ebix’s largest, accounting for 69% of Q3 2017 revenues. Also, on a constant currency basis, year to date revenue increased 18% to $257.1 million as compared to $218.2 million in 2016.
(dollar amounts in thousands)
Risk Compliance Solutions (RCS)
Total Revenue on Constant Currency Basis
Earnings per Share: Q3 2017 diluted earnings per share increased 4% to $0.76 compared to $0.74 in Q3 2016. Ebix’s weighted average diluted shares outstanding decreased to 31.6 million in Q3 2017 compared to 32.7 million in Q3 2016 and consistent with Q2 2017.
The following information was filed by Ebix Inc (EBIX) on Thursday, November 9, 2017 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: EBIX CIK: 814549 Form Type:10-Q Quarterly Report Accession Number: 0000814549-17-000027 Submitted to the SEC: Thu Nov 09 2017 3:40:34 PM EST Accepted by the SEC: Thu Nov 09 2017 Period: Saturday, September 30, 2017 Industry: Computer Integrated Systems Design