##### Table of Contents



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 Washington, D.C. 20549
 FORM 10-Q
 þ
    
    QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 For the quarterly period ended March 31, 2009
 OR
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
 Commission file number 0-15946
 Ebix, Inc.
  DELAWARE
    
    77-0021975(State or other jurisdiction of incorporation or
    
    (I.R.S. Employer Identification No.)organization)5 CONCOURSE PARKWAY, SUITE 3200ATLANTA, GEORGIA
    
    30328(Address of principal executive offices)
    
    (Zip Code)
 678-281-2020
 þ o
 o o þ
  Large accelerated filer o
    
    Accelerated filer þ
    
    Non-accelerated filer o
    
    Smaller reporting company o(Do not check if a smaller reporting company)
 Yes o No þ




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##### 



Ebix, Inc. and Subsidiaries
   INDEX
 PART I  FINANCIAL INFORMATIONItem 1. Consolidated Financial StatementsConsolidated Statements of Income for the Three Months ended March 31, 2009 and 2008
    
    
    2Consolidated Balance Sheets at March 31, 2009 and December 31, 2008
    
    
    3Consolidated Statement of Stockholders Equity and Comprehensive Income for the three
months ended March 31, 2009
    
    
    4Consolidated Statements of Cash Flows for the Three Months ended March 31,
2009 and 2008
    
    
    5Condensed Notes to Consolidated Financial Statements
    
    
    6Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations
    
    
    16Item 3. Quantitative and Qualitative Disclosures About Market Risk
    
    
    24Item 4. Controls and Procedures
    
    
    24PART II  OTHER INFORMATIONItem 1A. Risk Factors
    
    
    25Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
    
    
    25Item 3. Defaults upon Senior Securities
    
    
    25Item 4. Submission of Matters to a Vote of Security Holders
    
    
    25Item 5. Other Information
    
    
    26Item 6. Exhibits
    
    
    26SIGNATURES
    
    
    27INDEX to EXHIBITS
    
    
    28Exhibit 31.1Exhibit 31.2Exhibit 32.1Exhibit 32.2




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##### Table of Contents



PART I  FINANCIAL INFORMATION
 
 ITEM 1  CONSOLIDATED FINANCIAL STATEMENTS
 Ebix, Inc. and Subsidiaries
 
 Consolidated Statements of Income
 Three Months Ended March 31,2009
    
    
    2008Operating Revenue:
    
    $
    20,668
    
    
    $
    16,639Operating expenses:Costs of services provided
    
    
    4,085
    
    
    
    2,843Product development
    
    
    2,505
    
    
    
    2,171Sales and marketing
    
    
    1,134
    
    
    
    847General and administrative
    
    
    3,843
    
    
    
    3,816Amortization and depreciation
    
    
    744
    
    
    
    819Total operating expenses
    
    
    12,311
    
    
    
    10,496Operating income
    
    
    8,357
    
    
    
    6,143Interest income
    
    
    52
    
    
    
    122Interest expense
    
    
    (284
    )
    
    
    (342
    )Foreign exchange gain
    
    
    406
    
    
    
    59Income before income taxes
    
    
    8,531
    
    
    
    5,982Income tax provision
    
    
    (196
    )
    
    
    (312
    )Net income
    
    $
    8,335
    
    
    $
    5,670Basic earnings per common share
    
    $
    0.84
    
    
    $
    0.55Diluted earnings per common share
    
    $
    0.69
    
    
    $
    0.47Basic weighted average shares outstanding
    
    
    9,927
    
    
    
    10,219Diluted weighted average shares outstanding
    
    
    12,364
    
    
    
    12,462
   2




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##### Table of Contents



Ebix, Inc. and Subsidiaries
 
 Consolidated Balance Sheets
 March 31,
    
    
    December 31,2009
    
    
    2008(Unaudited)ASSETSCurrent assets:Cash and cash equivalents
    
    $
    11,772
    
    
    $
    9,475Short-term investments
    
    
    477
    
    
    
    1,536Accounts receivable, less allowance of $453 and $453, respectively
    
    
    15,918
    
    
    
    13,562Other current assets
    
    
    1,042
    
    
    
    951Total current assets
    
    
    29,209
    
    
    
    25,524Property and equipment, net
    
    
    4,143
    
    
    
    3,774Goodwill
    
    
    91,359
    
    
    
    88,488Intangible assets, net
    
    
    9,765
    
    
    
    10,235Indefinite-lived intangible assets
    
    
    11,581
    
    
    
    11,589Other assets
    
    
    522
    
    
    
    1,557Total assets
    
    $
    146,579
    
    
    $
    141,167LIABILITIES AND STOCKHOLDERS EQUITYCurrent liabilities:Accounts payable and accrued expenses
    
    
    4,361
    
    
    
    8,245Accrued payroll and related benefits
    
    
    3,380
    
    
    
    2,709Short term debt
    
    
    24,945
    
    
    
    24,945Current portion of convertible debt (Also see Note 14)
    
    
    11,518
    
    
    
    11,518Current portion of long term debt and capital lease obligations
    
    
    325
    
    
    
    912Deferred revenue
    
    
    6,228
    
    
    
    5,383Other current liabilities
    
    
    176
    
    
    
    142Total current liabilities
    
    
    50,933
    
    
    
    53,854Convertible debt
    
    
    15,000
    
    
    
    15,000Other long term debt and capital lease obligation, less current portion
    
    
    254
    
    
    
    290Other liabilities
    
    
    2,611
    
    
    
    941Deferred Revenue
    
    
    168
    
    
    
    330Deferred rent
    
    
    574
    
    
    
    610Total liabilities
    
    
    69,540
    
    
    
    71,025Commitments and Contingencies, Note 5Stockholders equity:Convertible Series D Preferred stock, $.10 par value, 500,000 shares
authorized, no shares issued and outstanding
    
    
    
    
    
    
    Common stock, $.10 par value, 20,000,000 shares authorized, 9,994,052
issued and 9,923,657 outstanding at March 31, 2009 and 10,006,455
issued and 9,946,710 outstanding at December 31, 2008
    
    
    979
    
    
    
    981Additional paid-in capital
    
    
    111,586
    
    
    
    111,641Treasury stock (70,395 and 59,745 shares repurchased as of March 31,
2009 and December 31, 2008, respectively)
    
    
    (1,383
    )
    
    
    (1,178
    )Accumulated deficit
    
    
    (21,864
    )
    
    
    (30,199
    )Accumulated other comprehensive income
    
    
    (12,279
    )
    
    
    (11,103
    )Total stockholders equity
    
    
    77,039
    
    
    
    70,142Total liabilities and stockholders equity
    
    $
    146,579
    
    
    $
    141,167
   3




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##### Table of Contents



Ebix, Inc. and Subsidiaries
 
 Consolidated Statements of Stockholders Equity and Comprehensive Income
   AccumulatedCommon Stock
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    OtherTreasury
    
    
    
    
    
    
    Additional
    
    
    
    
    
    
    
    
    
    
    ComprehensiveIssued
    
    
    
    
    
    
    Stock
    
    
    Treasury
    
    
    Paid-in
    
    
    Deferred
    
    
    Accumulated
    
    
    (Loss)
    
    
    
    
    
    
    ComprehensiveShares
    
    
    Amount
    
    
    Shares
    
    
    Stock
    
    
    Capital
    
    
    Compensation
    
    
    Deficit
    
    
    Income
    
    
    Total
    
    
    IncomeBalance, December 31, 2008
    
    
    10,006,455
    
    
    
    981
    
    
    
    (59,745
    )
    
    $
    (1,178
    )
    
    $
    111,641
    
    
    $
    
    
    
    $
    (30,199
    )
    
    $
    (11,103
    )
    
    $
    70,142Net income
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    8,335
    
    
    
    
    
    
    $
    8,335
    
    
    $
    8,335Cumulative translation adjustment
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (1,176
    )
    
    
    (1,176
    )
    
    
    (1,176
    )Comprehensive income
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    $
    7,159Repurchase of common stock
    
    
    (16,224
    )
    
    
    (2
    )
    
    
    (10,650
    )
    
    
    (205
    )
    
    
    (298
    )
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (505
    )Vesting of restricted stock
    
    
    3,821
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Deferred compensation and amortization
related to options and restricted stock
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    243
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    243Balance, March 31, 2009
    
    
    9,994,052
    
    
    
    979
    
    
    
    (70,395
    )
    
    
    (1,383
    )
    
    
    111,586
    
    
    $
    
    
    
    $
    (21,864
    )
    
    $
    (12,279
    )
    
    $
    77,039
   4




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##### Table of Contents



Ebix, Inc. and Subsidiaries
 
 Consolidated Statements of Cash Flows
 Three Months Ended March 31,2009
    
    
    2008Cash flows from operating activities:Net income
    
    $
    8,335
    
    
    $
    5,670Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization
    
    
    743
    
    
    
    819Stock-based compensation
    
    
    52
    
    
    
    13Restricted stock compensation
    
    
    191
    
    
    
    87Provision for doubtful accounts
    
    
    
    
    
    
    30Changes in assets and liabilities:Accounts receivable
    
    
    (2,356
    )
    
    
    (4,559
    )Other assets
    
    
    (72
    )
    
    
    (64
    )Accounts payable and accrued expenses
    
    
    244
    
    
    
    583Accrued payroll and related benefits
    
    
    672
    
    
    
    572Deferred revenue
    
    
    773
    
    
    
    494Deferred rent
    
    
    (36
    )
    
    
    (29
    )Deferred taxes
    
    
    (766
    )
    
    
    Other current liabilities
    
    
    36
    
    
    
    Net cash provided by operating activities
    
    
    7,816
    
    
    
    3,616Cash flows from investing activities:Investment in Telstra eBusiness Services, net of cash acquired
    
    
    
    
    
    
    (42,956
    )Investment in IDS
    
    
    (1,000
    )
    
    
    Investment in ConfirmNet
    
    
    (3,094
    )
    
    
    (Purchases)maturities of marketable securities, net
    
    
    1,059
    
    
    
    (4,306
    )Capital expenditures
    
    
    (727
    )
    
    
    (181
    )Net cash used in investing activities
    
    
    (3,762
    )
    
    
    (47,443
    )Cash flows from financing activities:Proceeds from line of credit
    
    
    
    
    
    
    4,295Repurchase of common stock
    
    
    (505
    )
    
    
    Proceeds from the exercise of stock options
    
    
    
    
    
    
    271Payments for capital lease obligations
    
    
    (38
    )
    
    
    (2
    )Principal payments of debt obligations
    
    
    (587
    )
    
    
    (493
    )Net cash provided/(used) in financing activities
    
    
    (1,130
    )
    
    
    4,071Effect of foreign exchange rates on cash
    
    
    (627
    )
    
    
    (451
    )Net change in cash and cash equivalents
    
    
    2,297
    
    
    
    (40,207
    )Cash and cash equivalents at the beginning of the period
    
    
    9,475
    
    
    
    48,437Cash and cash equivalents at the end of the period
    
    $
    11,772
    
    
    $
    8,230Supplemental disclosures of cash flow information:Interest paid
    
    $
    226
    
    
    $
    221Income taxes paid
    
    $
    1,125
    
    
    $
    524
   5




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##### Table of Contents



Ebix, Inc. and Subsidiaries
 
 Condensed Notes to Consolidated Financial Statements
 Note 1. Description of Business and Summary of Significant Accounting Policies
 Description of Business
  For the Three Months EndedMarch 31,(dollar amounts in thousands)
    
    2009
    
    
    2008Carrier Systems
    
    $
    2,826
    
    
    $
    2,528Exchanges
    
    
    12,033
    
    
    
    9,443BPO
    
    
    3,361
    
    
    
    1,691Broker Systems
    
    
    2,448
    
    
    
    2,977Totals
    
    $
    20,668
    
    
    $
    16,639
 Summary of Significant Accounting Policies
 Basis of Presentation
 
  6




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##### Table of Contents



Reclassification
 Short-term Investments
 Fair Value of Financial Instruments
 Revenue Recognition and Deferred Revenue
  Software Revenue Recognition
(SOP 97-2) Modification of SOP 97-2, Software Revenue
Recognition, With Respect to Certain Transactions, (SOP 98-9) , Revenue
Arrangements with Multiple Deliverables
  7




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##### Table of Contents



Accounts Receivable and the Allowance for Doubtful Accounts Receivable
 Goodwill and Other Indefinite-Lived Intangible Assets
   8




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##### Table of Contents



March 31,2009(In thousands)Beginning Balance
    
    $
    88,488Additions
    
    
    3,192Foreign currency translation adjustments
    
    
    (321
    )Ending Balance
    
    $
    91,359
  Finite-lived Intangible Assets
 LifeCategory
    
    (yrs)Customer relationships
    
    
    420Developed technology
    
    
    37Trademarks
    
    
    510
  March 31,
    
    
    December 31,2009
    
    
    2008(In thousands)Intangible assets:Customer relationships
    
    $
    11,364
    
    
    $
    11,373Developed technology
    
    
    4,757
    
    
    
    4,762Trademarks
    
    
    654
    
    
    
    656Backlog
    
    
    140
    
    
    
    140Total intangibles
    
    
    16,915
    
    
    
    16,931Accumulated amortization
    
    
    (7,150
    )
    
    
    (6,696
    )Intangibles, net
    
    $
    9,765
    
    
    $
    10,235Indefinite-lived intangibles:Customer/territorial relationships
    
    $
    11,581
    
    
    $
    11,589
 Income Taxes
  9




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##### Table of Contents



Recent Accounting Pronouncements Business Combinations st
 Note 2. Earnings per Share
   For the Three Months EndedMarch 31,2009
    
    
    2008Basic Weighted Average Shares
Outstanding
    
    
    9,926,995
    
    
    
    10,218,795Incremental Shares
    
    
    2,437,061
    
    
    
    2,243,613Diluted Shares Outstanding
    
    
    12,364,056
    
    
    
    12,462,408
 Note 3. Short term debt
     10




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##### Table of Contents



Note 4: Income Taxes
 Effective Tax Rate
   FIN 48 Accounting for Uncertainty in Income Taxes Accounting for Uncertainty in Income Taxes,
 (in thousands)Balance at January 1, 2009
    
    $
    914Additions for tax positions related to current year
    
    $
    52Additions for tax positions of prior years
    
    $
    Reductions for tax position of prior years
    
    $
    (249
    )Balance at March 31, 2009
    
    $
    717
 Note 5. Commitments and Contingencies
 Lease Commitments
   11




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##### Table of Contents



Contingencies
 Self Insurance
 Note 6: Sales of Unregistered Common Stock
  Note 7: Geographic Information
  Three Months ended March 31, 2009
 NorthAmerica
    
    
    Australia
    
    
    New Zealand
    
    
    India
    
    
    Singapore
    
    
    TotalRevenue
    
    $
    15,764
    
    
    $
    4,285
    
    
    $
    215
    
    
    $
    
    
    
    $
    404
    
    
    $
    20,668Fixed assets
    
    $
    2,440
    
    
    $
    385
    
    
    $
    24
    
    
    $
    1,253
    
    
    $
    41
    
    
    $
    4,143Goodwill
    
    $
    60,836
    
    
    $
    30,523
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    91,359Other intangible assets
    
    $
    7,602
    
    
    $
    13,744
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    21,346Headcount
    
    
    318
    
    
    
    61
    
    
    
    9
    
    
    
    259
    
    
    
    6
    
    
    
    653
 Three Months ended March 31, 2008
 NorthAmerica
    
    
    Australia
    
    
    New Zealand
    
    
    India
    
    
    Singapore
    
    
    TotalRevenue
    
    $
    9,755
    
    
    $
    6,231
    
    
    $
    195
    
    
    $
    18
    
    
    $
    440
    
    
    $
    16,639Fixed assets
    
    $
    2,155
    
    
    $
    392
    
    
    $
    28
    
    
    $
    855
    
    
    $
    40
    
    
    $
    3,470Goodwill
    
    $
    29,056
    
    
    $
    52,256
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    81,312Other intangible assets
    
    $
    6,609
    
    
    $
    3,654
    
    
    
    
    
    
    
    
    
    
    $
    
    
    
    $
    10,263Headcount
    
    
    218
    
    
    
    68
    
    
    
    9
    
    
    
    128
    
    
    
    6
    
    
    
    429
  12




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##### Table of Contents



Note 8: Acquisitions
  2008 Acquisitions
 ConfirmNet Corporation
 Acclamation Systems, Inc .
 Periculum Services Group
 Telstra eBusiness Services Recognition of Liabilities in Connection with a Purchase Business
Combination,
  13




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##### Table of Contents



March 31,
    
    
    December 31,(In thousands)
    
    2009
    
    
    2008Current assets
    
    $
    8,363
    
    
    $
    7,638Property and equipment
    
    
    817
    
    
    
    817Intangible assets
    
    
    5,830
    
    
    
    5,809Indefinite-lived intangibles
    
    
    14,862
    
    
    
    14,748Goodwill
    
    
    61,269
    
    
    
    58,322Total assets acquired
    
    
    91,141
    
    
    
    87,334Less: liabilities assumed
    
    
    (16,365
    )
    
    
    (12,558
    )Net assets acquired
    
    $
    74,776
    
    
    $
    74,776
  WeightedAverageFair Value
    
    
    Useful LifeIntangible asset category
    
    (in thousands)
    
    
    (in years)Customer relationships
    
    $
    4,906
    
    
    
    15.0Developed technology
    
    
    924
    
    
    
    3.9Total acquired intangible assets
    
    $
    5,830
    
    
    $
    13.2
 Note 9: Pro Forma Financial Information (related to recent acquisitions)
  As Reported
    
    
    Pro Forma(in thousands, except per share data)
    
    1stQtr 2008
    
    
    1stQtr 2008Revenue
    
    $
    16,639
    
    
    $
    21,069Net Income
    
    $
    5,670
    
    
    $
    6,218Basic EPS
    
    $
    0.55
    
    
    $
    0.61Diluted EPS
    
    $
    0.47
    
    
    $
    0.51
  14




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Note 10: Convertible Debt
 Accounting
for Convertible Debt and Debt Issued with Stock Purchase Warrants
   Note 11: Long-term Debt:
  Note 12: Repurchase of Common Stock from Brit:
  Note 13: Stock Split
  Note 14: Subsequent Events
 Conversion of a Portion of Outstanding Debt
  15




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##### Table of Contents



Item 2. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
 Safe Harbor for Forward-Looking Statements under the Securities Litigation Reform Act of 1995
  
    
    Regarding Notes 3, 7 and 11 of the Condensed Notes to Consolidated Financial
Statements, and our future liquidity needs discussed under Liquidity and Financial
Condition, our ability to generate cash from operating activities and any declines in
our credit ratings or financial condition which could restrict our access to the
capital markets or materially increase our financing costs;
 
    
    With respect to Note 5 of the Condensed Notes to Consolidated Financial Statements,
Commitments and Contingencies, and Contractual Obligations and Commercial
Commitments in MD&A, changes in the market value of our assets or the actual cost of
our commitments or contingencies;
 
    
    Regarding Note 8 of the Condensed Notes to Consolidated Financial Statements related to acquired
intangible assets and our ability to accurately estimate the fair
value of such assets; and,
 
    
    With respect this Management Discussion & Analysis of Financial Condition and
Results of Operation and the analysis of the three month revenue trend, the actual
level of demand for our products during the immediately foreseeable future.
  Company Overview
    16




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##### Table of Contents



ConfirmNet Corporation
 Acclamation Systems, Inc .
 Periculum Services Group
 Telstra eBusiness Services
  17




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##### Table of Contents



Offices and Geographic Information
  Key Performance Indicators
   Key Performance IndicatorsThree Months Ended March 31,2009
    
    
    2008(Dollars in thousands,except per share data)Revenue
    
    $
    20,668
    
    
    $
    16,639Revenue growth
    
    
    24.2
    %
    
    
    84.5
    %Operating income
    
    $
    8,357
    
    
    $
    6,143Operating margin
    
    
    36.04
    %
    
    
    36.92
    %Net Income
    
    $
    8,335
    
    
    $
    5,670Diluted earnings per share
    
    $
    0.69
    
    
    $
    0.47Cash provided by operating activities
    
    $
    7,816
    
    
    $
    3.616
 Results of Operations  Three-Months Ended March 31, 2009 and 2008
 Operating Revenue
  For the Three Months EndedMarch 31,(dollar amounts in thousands)
    
    2009
    
    
    2008Carrier Systems
    
    $
    2,826
    
    
    
    2,528Exchanges
    
    $
    12,033
    
    
    
    9,443BPO
    
    $
    3,361
    
    
    
    1,691Broker Systems
    
    $
    2,448
    
    
    
    2,977Totals
    
    $
    20,668
    
    
    
    16,639
  18




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##### Table of Contents



Cost of Services Provided
  Product Development expenses
  Sales and Marketing Expenses
  General and Administrative Expenses
  Amortization and Depreciation Expenses
   19




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##### Table of Contents



Income Taxes
  Liquidity and Capital Resources
   nd
  Operating Activities
   Investing Activities
   20




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##### Table of Contents



Financing Activities
   Revolving Credit Facility
  Off-Balance Sheet Arrangements
  Contractual Obligations and Commercial Commitments
  Payment Due by PeriodLess Than
    
    
    
    
    
    
    
    
    
    
    More thanTotal
    
    
    1 Year
    
    
    1 - 3 Years
    
    
    3 - 5 Years
    
    
    5 years(in thousands)Long-term debt
    
    
    
    
    
    $
    51,612
    
    
    $
    36,612
    
    
    $
    15,000
    
    
    $
    
    
    
    $
    Operating leases
    
    
    
    
    
    $
    6,657
    
    
    $
    1,981
    
    
    $
    2,688
    
    
    $
    1,731
    
    
    $
    257Capital leases
    
    
    
    
    
    $
    469
    
    
    $
    170
    
    
    $
    228
    
    
    $
    71
    
    
    $
    Total
    
    
    
    $
    58,738
    
    
    $
    38,763
    
    
    $
    17,916
    
    
    $
    1,802
    
    
    $
    257
 Recent Accounting Pronouncements
   21




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##### Table of Contents



Application of Critical Accounting Policies
  Revenue Recognition
      22




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##### Table of Contents



Allowance for Doubtful Accounts Receivable
  Valuation of Goodwill
   Income Taxes
    Foreign Currency Translation
   23




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##### Table of Contents



Item 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
    
 Item 4. CONTROLS AND PROCEDURES
 Evaluation of Disclosure Controls and Procedures.
 Internal Control over Financial Reporting.
  24




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##### Table of Contents



Part II  OTHER INFORMATION
 Item 1. LEGAL PROCEEDINGS
  
 Item 1A. RISK FACTORS
  
 Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
  
 Item 3. DEFAULTS UPON SENIOR SECURITIES
  
 ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
   25




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##### Table of Contents



Item 5. OTHER INFORMATION
   Maximum Number (orTotal Number of Shares
    
    
    
    
    
    
    Approximate Dollar Value) ofPurchased as Part of
    
    
    
    
    
    
    Shares that May Yet BePublicly-Announced
    
    
    Average Price Paid
    
    
    Purchased Under the Plans orPeriod
    
    Plans or Programs
    
    
    Per Share (1)
    
    
    Programs (2)As of December 31, 2008
    
    
    70,245
    
    
    $
    20.43
    
    
    $
    3,565,000January 1, 2009 to January 31, 2009
    
    
    26,874
    
    
    $
    18.82
    
    
    $
    3,059,000February 1, 2009 to February 28, 2009
    
    
    
    
    
    $
    
    
    
    $
    3,059,000March 1, 2009 to March 31, 2009
    
    
    
    
    
    $
    
    
    
    $
    3,059,000Total
    
    
    97,119
    
    
    $
    19.99
    
    
    $
    3,059,000
 (1)
    
    Average price paid per share for shares purchased as part of our publicly-announced plan (includes brokerage commissions).(2)
    
    On March 21, 2008, the Companys board of directors ratified, and we publicly announced, an increase in the Companys
ability to repurchase shares of our outstanding common stock from an amount of $1.0 million to $5.0 million in shares.
The opening balance stated here reflects the previous repurchase of 70,245 shares. 
 Item 6. EXHIBITS
   26




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##### Table of Contents



Ebix, Inc.Date: May 8, 2009
    By:
    /s/ Robin RainaRobin RainaChief  Executive Officer(Principal Executive Officer)Date: May 8, 2009
    By:
    /s/ Robert F. KerrisRobert F. KerrisChief Financial Officer(Principal Financial and Accounting Officer)  27




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##### Table of Contents



EXHIBIT INDEX
 EXHIBITNO.
    
    DESCRIPTION2.1
    
    

Share Sale Agreement by and among Ebix, Inc., Ebix Australia (vic) Pty Ltd, and Telstra Services Solutions Holdings Limited dated December 22, 2007 (incorporated by reference to Exhibit 2.1 to
the Companys Current Report on Form 8-K filed on March 18, 2008 and incorporated herein by
reference).2.2
    
    
    Stock Purchase Agreement by and amongst Ebix, Acclamation Systems, Inc., and Joseph Ott, as
Seller dated July 31, 2008 (incorporated by reference to Exhibit 2.1 to the Companys Current
Report on Form 8-K filed August 5, 2008 and incorporated herein by reference).2.3
    
    
    Agreement and Plan of Merger by and among Ebix, Inc., ConfirmNet Corporation, Ebix Software India
Private Limited, ConfirmNet Acquisition Sub, Inc and Craig A. Irving, as shareholders
Representation dated November 1, 2008 (incorporated by reference to Exhibit 2.1 to the Companys
Current Report on Form 8-K filed November 11, 2008 and incorporated herein by reference).3.1
    
    
    Certificates of Incorporation of the Company, as amended (including Certificates of Designations)
(incorporated by reference to Exhibit 3.1 to the Companys Quarterly Report on Form 10-Q for the
period ended March 31, 2005 and incorporated herein by reference).3.2
    
    
    Bylaws of the Company (filed as Exhibit 3.2 to the Companys Annual Report on Form 10-K for the
fiscal year ended December 31, 2000 and incorporated herein by reference).10.29
    
    
    Share Purchase Agreement made and entered into as of April 2, 2008 by and among Ebix, Inc and
Rennes Foundation (incorporated by reference to Exhibit 10.29 to the Companys Current Report on
Form 8-K filed on April 14, 2008 and incorporated herein by reference).10.30
    
    
    Share Purchase Agreement made and entered into as of April 7, 2008 by and among Ebix, Inc and
Ashford Capital Management, Inc. (incorporated by reference to Exhibit 10.30 to the Companys
Current Report on Form 8-K filed on April 14, 2008 and incorporated herein by reference).10.31
    
    
    Stock Re-Purchase Agreement made and entered into as of April 16, 2008 by and among Ebix, Inc and
Brit Insurance, Holdings, Inc. (incorporated by reference to Exhibit 10.31 to the Companys
Current Report on Form 8-K filed April 17, 2008 and incorporated herein by reference).31.1
    
    
    Certification of Chief Executive Officer Pursuant to 13a-14(a) (Section 302 of the Sarbanes-Oxley
Act of 2002).31.2
    
    
    Certification of Chief Financial Officer Pursuant to 13a-14(a) (Section 302 of the Sarbanes-Oxley
Act of 2002).32.1
    
    
    Certification of Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.32.2
    
    
    Certification of Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
  28