Ebix Announces Strong Growth in Cash Flows for Q4 20
Resumption of Share Buy Back Program
January 28, 2010 08:33 AM Eastern Time
ATLANTA--(EON: Enhanced Online News)--Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand softw
commerce services to the insurance industry, today announced that it will be reporting its fourth quarter and full year results around t
2010.
The Company also announced strong growth in cash generated by operating activities during the fourth quarter of 2009 in the appro
$10.3 million. After paying approximately $34.6 million in cash for two acquisitions (Peak and EZ Data) and the purchase of a new
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 re
Robin Raina, president and CEO of Ebix, Inc. said, “In recent times, I have been asked about the decline in stock price and the rat
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
largest insurance player globally. The Company continues to do well on all fronts and we expect Q4 results to be in line with our ex
have always believed in letting our numbers speak for themselves and towards that extent we will continue our efforts to create new
terms of revenues, cash growth, earnings, and net margins for Ebix.”
Safe Harbor for Forward Looking Statements under the Private Securities Litigation Reform Act of 1995 — This press r
various forward looking statements and information that are based on management's beliefs, as well as assumptions made by, and in
currently available to management, including statements regarding future economic performance and financial condition, liquidity and
acceptance of the Company's products by the market and management's plans and objectives. The Company has tried to identify s
looking statements by use of words such as "expect