Ebix Earnings: Here’s Why Investors are Happy Now
Ebix Inc. (NASDAQ:EBIX) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 3.15%.
Ebix Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 9.09% to $0.48 in the quarter versus EPS of $0.44 in the year-earlier quarter.
Revenue: Rose 22.59% to $54 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Ebix Inc. reported adjusted EPS income of $0.48 per share. By that measure, the company beat the mean analyst estimate of $0.45. It missed the average revenue estimate of $54.34 million.
Quoting Management: “The Company’s 2012 results reflect the strength of Ebix’s core businesses that helped us deliver outstanding results in one of the most challenging years for the insurance industry in a decade,” said Robin Raina, Chairman, President and CEO, Ebix Inc. “Our revenue, operating cash flow, liquidity and diluted EPS were all at record levels as we look forward to continued high levels of performance in 2013.”
Key Stats (on next page)…