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US results push Ebix to first-quarter record

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Software provider Ebix has posted its best quarter on record on the back of high US sales.

The results for the company’s local operation, which includes major transaction platform Sunrise Exchange, don’t compare with the US result, according to Ebix Australia MD Leon d’Apice.

First-quarter revenue for the US-based company was up 53% to $US31.6 million ($40.7 million) taking net income to $US12.4 million ($14 million) – a 49% increase on the corresponding period last year.

Mr d’Apice told insuranceNEWS.com.au results for the Australian operations were “okay”, but not on par with the US result.

“The US numbers are particularly good,” he said.

Ebix does not release local results, but Mr d’Apice says the company “is reasonably happy with where we are. There are always challenges in the market.”

He says Ebix Australia has committed large resources to building a new e-commerce framework and a major rewrite of its WinBEAT system, which is used by more than 600 insurance brokers.