Pro Forma Financial Information (re: 2013 and 2012 acquisitions)

This unaudited pro forma financial information is provided for informational purposes only and does not project the Company’s results of operations for any future period.

The aggregated unaudited pro forma financial information pertaining to all of the Company's acquisitions made during 2013 and 2012, which includes the acquisitions of Qatarlyst, BSI, Taimma, PlanetSoft, Fintechnix, and TriSystems as presented in the table below is provided for informational purposes only and does not project the Company's expected results of operations for any future period. No effect has been given in this pro forma information for future synergistic benefits that may still be realized as a result of combining these companies or costs that may yet be incurred in integrating their operations. The 2013 and 2012 pro forma financial information below assumes that all such business acquisitions were made on January 1, 2012, whereas the Company's reported financial statements for 2013 only includes the operating results from the businesses since the effective date that they were acquired by Ebix, and thusly includes only nine months of actual financial results of Qatarlyst. Similarly, the 2012 pro forma financial information below includes a full year of results for Taimma, BSI, PlanetSoft, Fintechnix, TriSystems, and Qatarlyst as if they had been acquired on January 1, 2012, whereas the Company's reported financial statements for the 2012 only includes nine months of actual financial results for BSI and Taimma, seven months for PlanetSoft, seven months for Fintechnix, five months for TriSystems, and no financial results for Qatarlyst.



	As Reported 2013		Pro Forma 2013		As Reported 2012		Pro Forma 2012
			(unaudited)				(unaudited)
	(In thousands, except per share amounts)
Revenue	$	204,710	$	205,619	$	199,370	$	215,004
Net Income	$	59,274	$	57,966	$	70,569	$	57,008
Basic EPS*	$	1.58	$	1.54	$	1.91	$	1.54
Diluted EPS*	$	1.53	$	1.50	$	1.80	$	1.45

In the above table, the unaudited pro forma revenue for the year ended December 31, 2013 decreased by $9.4 million from the unaudited pro forma revenue for 2012 of $215.0 million to $205.6 million , representing a 4.4% decrease. The reported revenue in the amount of $204.7 million for the year ended December 31, 2013 increased by $5.3 million or 2.7% from the $199.4 million of reported revenue for the year ended December 31, 2012.

The above pro forma analysis is based on the following premises:


•	2013 and 2012 pro forma revenue contains actual revenue of the acquired entities before acquisition date, as reported by the sellers, as well as actual revenue of the acquired entities after acquisition. Growth in revenues of the acquired entities after acquisition date are only reflected for the period after their acquisition.


•	Revenue billed to existing clients from the cross selling of acquired products has been assigned to the acquired section of our business.


•	Any existing products sold to new customers acquired through the acquisition customer base, has also been assigned to the acquired section of our business.


•	2012 pro forma revenues include revenues from some product lines whose sale was discontinued after the acquisition date and revenues from some customers whose contracts were discontinued. This is typically done for efficiency and/or competitive reasons.


•	The impact from fluctuations of the exchange rates for the foreign currencies in the countries in which we conduct operations also partially affected reported revenues. During each of the years 2013, 2012, and 2011 the change in foreign currency exchange rates increased/(decreased) reported consolidated operating revenues by $(3.8) million, $(1.2) million, and $4.2 million, respectfully.