FORTUNE announced Thursday that Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance industry has been ranked 3RD on the 2010 “100 Fastest-Growing Companies” list. The full list and related stories appear in the September 6, 2010 issue of FORTUNE, available on newsstands on Monday, August 23, and now at http://money.cnn.com/magazines/fortune/fortunefastestgrowing/2010/index.html.
Today Ebix President and CEO, Robin Raina was interviewed by Mark Haines and Erin Burnett live at 10:40 am EDT on the CNBC program “Squawk on the Street”.
FORTUNE Managing Editor Andy Serwer writes in the September 6, 2010 issue, “The troubled economy is on all of our minds these days, but sometimes we forget that even in the long slog we seem to be in, entrepreneurs are hard at work creating the next Cisco or Amgen or Starbucks.”
This is the second consecutive year Ebix has been named in the top 5 fastest growing companies in the world, (4th 2009). To add to the announcement of the company’s position in the list, Ebix also received the title of 3rd “Best Investment in the World” from FORTUNE.
Ebix placed alongside Eldorado Gold (1st), Green Mountain Coffee Roasters (2nd) and following behind Ebix was the On-Demand CRM player Salesforce.com. Also notable is that Ebix is the only Georgia based company in the list.
Ebix Chairman of the Board, President & CEO Robin Raina said,” We are pleased to be named amongst the Top five fastest growing Companies by FORTUNE, two years in the running. We accept this ranking with humility and a clear acceptance of the fact that we still have a long way to go, before we can rest on our accolades. We see this ranking as another step forward in our journey that started ten years back. We believe that this recognition more than anything will help cement our name further in front of large insurance carriers, who depend a lot on outside endorsements of companies they want to do business with.”
To qualify for 100 Fastest-Growing Companies, foreign or domestic companies had to meet the following criteria: be trading on a major U.S. stock exchange; file quarterly reports with the SEC; have a minimum market capitalization of $250 million and a stock price of at least $5 on June 30, 2010; and have been trading continuously since June 30, 2007. The company must also have revenue and net income of at least $50 million and $10 million, respectively, for the four quarters ended on or before April 30, 2010. Finally, the company must have posted an annualized growth in revenue and earnings per share of at least 15% annually over the three years ended on or before April 30, 2010.
Companies that meet the above criteria were ranked by revenue growth rate; EPS growth rate; and three-year annualized total return for the period ended June 30, 2010. (To compute the revenue and EPS growth rates, FORTUNE uses a trailing four quarters log linear least square regression fit.) The overall rank was based on the sum of the three ranks. Once the 100 companies were identified, they were then re-ranked within the 100, using the three equally weighted variables. If there is a tie, the company with the larger four-quarter revenue receives the higher rank.
FORTUNE magazine is a global leader in business journalism with a domestic circulation of over 850,000 and a global readership of nearly 5 million, and major franchises including the FORTUNE 500 and the FORTUNE 100 Best Companies to Work For. FORTUNE Live Media extends the brand's mission into live events, hosting a wide range of annual conferences, including FORTUNE’s Most Powerful Women and the FORTUNE Global Forum. FORTUNE publishes English-language editions in Europe and Asia, and local-language editions in China and South Korea. FORTUNE magazine’s online home is CNNMoney.com, which draws 5.7 million readers a month.
About Ebix, Inc.
A leading international supplier of On-Demand software and E-commerce services to the insurance industry, Ebix, Inc., (NASDAQ: EBIX) provides end-to-end solutions ranging from infrastructure exchanges, carrier systems, agency systems and BPO services to custom software development for all entities involved in the insurance industry.
With 30+ offices across Brazil, Singapore, Australia, the US, New Zealand, India and Canada, Ebix powers multiple exchanges across the world in the field of life, annuity, health and property & casualty insurance while conducting in excess of $100 billion in insurance premiums on its platforms. Through its various SaaS-based software platforms, Ebix employs hundreds of insurance and technology professionals to provide products, support and consultancy to thousands of customers on six continents. Ebix’s focus on quality has enabled it to be awarded Level 5 status of the Carnegie Mellon Software Engineering Institute’s Capability Maturity Model (CMM). Ebix has also earned ISO 9001:2000 certifications for both its development and BPO units in India. For more information, visit the Company’s website at www.ebix.com.
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