Ebix Announces Company's June 30 Cash Balance Was $23.8

Ebix, Inc. EBIX announced strong growth in cash during the second quarter of 2011 in the approximate amount of $19.7 million. The Company started the second quarter with $35.6 million of cash. In the second quarter of 2011, the Company paid approximately $23.8 million in cash for stock buybacks, $6.8 million in cash to Rennes Foundation for retiring a convertible note, $1.67 million in cash to Bank of America towards debt reduction, $0.6 million in cash towards earn outs, and 0.7 million in cash towards non-operating acquisition related severances. After paying approximately $33.5 million in cash in Q2 of 2011 towards non-operating activities, the Company‘s cash balance as of 30th June 2011 was approximately $23.8 million.