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Ebix (EBIX -3.7%) is lower following its Q3 report, even though the insurance software firm beat...

Ebix (EBIX -3.7%) is lower following its Q3 report, even though the insurance software firm beat estimates and raised its quarterly dividend by 50% to $0.075/share. The company now sports a yield of 1.7%. A slight Q/Q drop in deferred revenue to $18.05M might not be going over well, given revenue rose 13% Q/Q. (SEC probe report: I, II)
Comments (2)
  • The CEO denied the probe by the SEC, but I am wondering why mgmt didn't refute some of the points that were elaborated in the research report.
    9 Nov 2012, 08:15 AM Reply Like
  • Ken Lay, Bernie Ebbers, Dennis Kozlowski all denied issues when news broke at their companies so Raina's denial means nothing to me.

     

    A lot of shady business practices at EBIX, particularly how they manipulate their tax rate by putting all their technology under a shell company in Singapore and then licensing it back to to the US operating company. I predict that the SEC will ultimately have a field day with these guys.
    12 Nov 2012, 05:16 PM Reply Like
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