Ebix Jumps After Impressive Q4 Results
Insurance software supplier Ebix (NASDAQ: EBIX) released its fiscal fourth-quarter earnings results prior to the opening bell on Thursday. In the wake of the report, EBIX was last trading up around nine percent to $16.90.
For the quarter, the company reported net income of $18.74 million or $0.48 per share, compared to $17.33 million or $0.44 per share, in last year's fourth-quarter. This came in ahead of Wall Street earnings expectations of $0.45 per share.
Speaking about the company's quarter, CEO Robin Raina said, "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."
The better than expected earnings for the peirod were driven primarily by a 23 percent climb in revenue. For the fourth-quarter, the company had sales of $54.02 million versus $44.05 million last year. This came up just short of consensus revenue expectations of $54.34 million.
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