| 2019-06-17 12:25:18|
EBIX 12:25 06/17 06/17/19
Ebix not aware of events that would negatively impact operations
Ebix announced that it is "not aware of any news, events or tariffs that would negatively impact its financial and insurance exchanges and global operations. Nor its aware of any news or events that would justify the abnormal trading activity of its common stock today." The company added, "Ebix remains confident in its growth outlook for 2018 and its ability to achieve its goal of reaching greater than $800 million in annualized quarterly revenues by the fourth quarter of 2019. Ebix's full year 2018 revenue rose 37% to $497.8 million, compared to $364.0 million in 2017. Operating income rose 35% to $153.0 million in 2018, compared to $113.2 million in 2017. Reflecting the impact of a one-time tax $24.5 million charge related to the implementation of the 2017 Tax Cuts and Jobs Act transition tax, Ebix's GAAP diluted earnings per share were $2.95 in 2018." The stock in midday trading is down 11%, or $5.61, to $47.74.