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28.01.2010 14:41

Ebix Announces Strong Growth in Cash Flows for Q4 2009 and Resumption of Share Buy Back Program

Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance industry, today announced that it will be reporting its fourth quarter and full year results around the 8th of March 2010.

The Company also announced strong growth in cash generated by operating activities during the fourth quarter of 2009 in the approximate amount of $10.3 million. After paying approximately $34.6 million in cash for two acquisitions (Peak and EZ Data) and the purchase of a new building in India in Q4 of 2009, the Company's cash balance as of 31st December 2009 was approximately $19.1 million.

Furthermore, Ebix also announced that it intends to resume buy back of Ebix shares under the previously Board approved share repurchase program.

Robin Raina, president and CEO of Ebix, Inc. said, "In recent times, I have been asked about the decline in stock price and the rather high shorting numbers on our stock. As the CEO of Ebix and one of the largest stakeholders, I continue to believe in Ebix and the opportunity to make Ebix the largest insurance player globally. The Company continues to do well on all fronts and we expect Q4 results to be in line with our expectations. We have always believed in letting our numbers speak for themselves and towards that extent we will continue our efforts to create new benchmarks in terms of revenues, cash growth, earnings, and net margins for Ebix."


About Ebix

A leading international supplier of On-Demand software and E-commerce services to the insurance industry, Ebix, Inc., (NASDAQ:EBIX) provides end to end solutions ranging from infrastructure Exchanges, carrier systems, agency systems and BPO services to custom software development for all entities involved in the insurance industry.

With 30+ offices across Brazil, Singapore, Australia, the US, New Zealand, India, China, Japan and Canada, Ebix powers multiple exchanges across the world in the field of life, annuity, health and property& casualty insurance, while conducting in excess of $100 billion in insurance premiums on its platforms. Through its various SaaS based software platforms, Ebix employs hundreds of insurance and technology professionals that provide products, support and consultancy to thousands of customers on six continents. Ebix's focus on quality has enabled it to be awarded Level 5 status of the Carnegie Mellon Software Engineering Institute's Capability Maturity Model (CMM). Ebix has also earned ISO 9001:2000 certification for both its development and BPO units in India. For more information, visit the Company's website at www.ebix.com.


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aus der Diskussion: Ebix Inc. (765778)
Autor (Datum des Eintrages): watchi  (28.01.10 14:44:03)
Beitrag: 12 von 12 (ID:38831322)
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