Ebix Inc. (NASDAQ:EBIX) Q1 2016 Earnings Conference Call - Preliminary Transcript

May 09, 2016 • 11:00 am ET


Ebix Inc. (NASDAQ:EBIX) Q1 2016 Earnings Conference Call - Preliminary Transcript


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Good day Ladies and gentlemen, welcome to the Ebics Incorporated first quarter 2016 and conference call at this time all participants are in a listen only mode. Later we will conduct a question and answer session and instructions will be given at that time.[Operator Instructions]. As a reminder, this conference call may be recorded. I will now turn the conference over to Darren Joseph Corporate Vice President Ebics. You may begin.

Darren Joseph

Thank you. Welcome everyone to Ebics Incorporated 2016 first quarter earnings conference call. Joining me to discuss the quarter is Ebics Chairman, president and CEO Robin Raina and Ebics EVP and CFO, Robert Kerris. Following our remarks, we will open up the call for your questions. Now let me quickly cover the Safe Harbor. Some of the statements that we make today are forward looking, including among others statements regarding indexes, future investments, our long term growth and innovation, the expected expected performance of our businesses and our use of cash.

These statements and

Involve a number of risks and uncertainties that might cause actual results to differ materially from those projected in the forward looking statement. Please note that these forward looking statements reflect our opinions only as of the date of this presentation, and we undertake no obligation to revise or publicly released the results of any revision. So these forward looking statements in light of new information or future events.

Additional information concerning factors that could cause actual results to materially differ from those in the forward looking statements made today is contained in our SEC filings, which lists a more detailed description of the risk factors that may affect their results. Our press release announcing the q1 2016 results was issued earlier this morning. The audio of this investor call is also being webcast live on the web on www.edix.com forward/webcast, you can look at EBITDA financials beyond what has been provided on this release on our website www.ebix.com. The audio and the text transcript of this call

Be available also on the investor homepage of the bank's website after 4pm Eastern time today. Let's start by discussing the results announced today. We are clearly excited by the momentum we have generated in our business both in terms of top line and operating margins. Revenue in q1 2016 increase 11% from a year ago to 71.1 million on a constant currency basis. Even since q1 2016 revenue increased 14% year over year to 72.8 million as compared to 63.8 million in q1 at 2015.

Also on a constant currency basis sequentially, the revenue increased 2% to 71.4 million as compared to 70.2 million in q4 2015.

In q1 2016. Our exchange revenue continued to be the largest channel for Ebix accounting for 70% of the company's revenues.

The year over year revenues increase as a result of revenue growth from life -- underwriting CRM, reinsurance, RCS and healthy e- commerce services. In addition to revenue growth generated from the company's 2015 acquisition of PB systems, partially