Ebix Inc. Sees 20.6% Revenue Gain

Atlanta-based Ebix Inc., which provides software and IT services to the insurance industry, said in a report on its financial results for the fourth quarter and year ended Dec. 31, that its revenue rose 20.6 percent in 2005,

Ebix’s total revenue rose 20.6 percent to $24.10 million in 2005, compared to $19.98 million in 2004. Ebix’s operating income rose 93.3 percent to $4.65 million in fiscal 2005, compared to operating income of $2.40 million in fiscal 2004. In 2005, the company’s net income rose 92.9 percent to $4.32 million, or $1.38 per diluted share, compared to net income of $2.24 million, or $0.72 per diluted share, in 2004. Results for both 2005 and 2004 were based on 3.1 million weighted average diluted shares outstanding.

Ebix’s Q4 ’05 revenue rose 8 percent to $6.16 million, compared to $5.71 million during Q4 ’04. The company reported Q4 ’05 net income of $0.94 million, or $0.30 per diluted share, versus Q4 ’04 net income of $0.10 million, or $0.03 per diluted share. Q4 ’05 results were based on 3.1 million weighted average diluted shares outstanding during the period, compared to 3.2 million in Q4 ’04.