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Atlanta, Georgia - (Cheap Web Hosting Directory) - August 15, 2007 - International developer and supplier of software and e-commerce solutions to the insurance industry, Ebix, Inc., has reported record financial results for the second quarter of 2007. The results marked the highest EPS in any one quarter that the company has reported in its thirty one year history.

The company reported total revenue of $9.82 million for the second quarter of 2007, compared to $7.03 million for the second quarter of 2006, marking a forty percent increase in revenues. Net income after taxes for the quarter rose sixty eight percent to $2.51 million, or $0.75 per diluted share, up from $1.50 million, or $0.48 per diluted share, in the second quarter of 2006, an earnings per share growth of fifty six percent. Results for the second quarter of 2007 were based on 3.37 million weighted average diluted shares outstanding, as compared to 3.14 million in the second quarter of 2006. The company also reported basic earnings per share in the second quarter of 2007 of $0.85 as compared to $0.54 in the second quarter of 2006.

The company’s operating expenses for the quarter grew by thirty six percent to $7.51 million as compared to $5.52 million for the second quarter of 2006. The company attributed the increase primarily to the acquisition of Finetre in October 2006 as also partly to the acquisition of Infinity consulting in May 2006.

The company also reported that its cumulative net income at the end of six months of 2007 grew by 70 percent to $ 4.48 million as compared to cumulative net income of $ 2.63 million at the end of six months of 2006. The six month cumulative diluted EPS for 2007 also grew by sixty two percent to $1.36 as compared to cumulative diluted EPS of $0.84 at the end of six months of 2006.

Robin Raina, President and CEO of Ebix commented, ”We are pleased that the second quarter results are in line with our expectations. We are especially pleased that net margins in the quarter grew to 26%. At the same time, we see these results simply as another positive step in the right direction rather than the destination by itself. In June, the company paid LaSalle bank $10 million to become a zero debt company. With $11.7 million of cash in the bank as of 30th June 2007 and an unused credit line from LaSalle worth $14 million, the company is presently well poised financially. We are focused on growing the company’s op line organically as also through sensible acquisitions. The challenge for us is to do so while ensuring that the net margins also go up in the process.”

Ebix, Inc. is an international supplier of software and e-commerce solutions to the insurance industry. Ebix provides a series of application software products for the insurance industry ranging from carrier systems, agency systems and exchanges to custom software development for all entities involved in the insurance and financial services industries. Ebix’s goal is to work collaboratively with clients to develop innovative technology strategies and solutions that address specific business challenges, by combining the newest technologies with its capabilities in consulting, systems design and integration, IT and business process outsourcing, applications software, and Web and application hosting to meet the individual needs of organizations.

With bases in Singapore, Australia, the US, UK, New Zealand, India and Canada, Ebix employs insurance and technology professionals who provide products, support and consultancy to more than 3,000 customers on six continents. Ebix was 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 call center units in India.

To learn more about Ebix, please visit: www.ebix.com.

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