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Advent Software Inc (ADVS) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

Advent Software Inc

CIK: 1002225 Ticker: ADVS

Exhibit 99.1

 

ADVENT SOFTWARE REPORTS FOURTH QUARTER AND FULL YEAR 2014 RESULTS

 

·                  Record Full-Year GAAP Operating Income of $84 Million, up 82%

·                  Record Full-Year Operating Cash Flow of $115 Million, up 17%

 

SAN FRANCISCO — February 2, 2015

— Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services to the global investment management industry, announced today its financial results for the fourth quarter and fiscal year ended December 31, 2014.

 

FOURTH QUARTER AND FULL YEAR 2014 RESULTS

 

GAAP Results for Continuing Operations

 

The Company reported quarterly revenue of $100.7 million for the fourth quarter of 2014, compared to $97.6 million in the fourth quarter of 2013, a 3% increase. Revenue for the year ended December 31, 2014 was $396.8 million, compared to $383.0 million recorded in 2013, a 4% increase.

 

Operating income for the fourth quarter of 2014 was $22.4 million, or 22.3% of revenue, compared to $18.4 million or 18.9% of revenue for the fourth quarter of 2013. Operating income for the year ended December 31, 2014 was $83.7 million, or 21.1% of revenue, compared to $46.1 million, or 12.0% of revenue, for 2013. Advent’s operating income for fiscal year 2013 included recapitalization charges of $6.0 million and stock compensation expense of $48.2 million, of which $26.7 million was due to the modification of equity awards.

 

Net income for the fourth quarter of 2014 was $14.7 million compared to $11.0 million in the fourth quarter of 2013, a 33% increase. Net income for the year ended December 31, 2014 was $50.3 million compared to $28.8 million for 2013, a 75% increase. On a fully diluted basis, earnings per share in the fourth quarter of 2014 were $0.27, compared to $0.20 in the fourth quarter of 2013. On a fully diluted basis, earnings per share for the year ended December 31, 2014 were $0.94, compared to $0.54 for 2013.

 

Operating cash flow in the fourth quarter of 2014 was $43.6 million, compared with $36.7 million in the fourth quarter of 2013, a 19% increase. Operating cash flow for the year ended December 31, 2014 totaled $115.2 million, compared with $98.6 million in 2013, a 17% increase.

 

Cash, cash equivalents, and marketable securities totaled $38.0 million as of December 31, 2014, compared to $33.8 million as of December 31, 2013. Total outstanding debt as of December 31, 2014 was $220 million compared to $305 million as of December 31, 2013. Deferred revenue as of December 31, 2014 was $204 million, compared to $194 million as of December 31, 2013.

 


The following information was filed by Advent Software Inc (ADVS) on Monday, February 2, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (parenthetical)
Consolidated Statements Of Operations
Consolidated Statements Of Operations (parenthetical)
Consolidated Statements Of Stockholders' (deficit) Equity
Balance Sheet Detail
Balance Sheet Detail (details 2)
Balance Sheet Detail (details)
Balance Sheet Detail (tables)
Cash Equivalents And Marketable Securities
Cash Equivalents And Marketable Securities (details 2)
Cash Equivalents And Marketable Securities (details 3)
Cash Equivalents And Marketable Securities (details)
Cash Equivalents And Marketable Securities (tables)
Commitments And Contingencies
Commitments And Contingencies (details)
Commitments And Contingencies (tables)
Common Stock Repurchase Programs
Common Stock Repurchase Programs (details)
Common Stock Repurchase Programs (tables)
Debt
Debt (details)
Debt (tables)
Discontinued Operation
Discontinued Operation (details )
Discontinued Operation (details 2)
Discontinued Operation (tables)
Fair Value Measurements
Fair Value Measurements (details)
Fair Value Measurements (tables)
Goodwill
Goodwill (details)
Goodwill (tables)
Income Taxes
Income Taxes (details 2)
Income Taxes (details 3)
Income Taxes (details)
Income Taxes (tables)
Net Income Per Share
Net Income Per Share (details)
Net Income Per Share (tables)
Other Intangibles, Net
Other Intangibles, Net (details 2)
Other Intangibles, Net (details 3)
Other Intangibles, Net (details)
Other Intangibles, Net (tables)
Restructuring Charges
Restructuring Charges (details)
Restructuring Charges (tables)
Schedule Ii Valuation And Qualifying Accounts
Schedule Ii Valuation And Qualifying Accounts (details)
Segment, Significant Customer And Geographic Information
Segment, Significant Customer And Geographic Information (details)
Segment, Significant Customer And Geographic Information (tables)
Special Dividend
Special Dividend (details)
Stock-based Compensation
Stock-based Compensation (details 2)
Stock-based Compensation (details 3)
Stock-based Compensation (details 4)
Stock-based Compensation (details 5)
Stock-based Compensation (details 6)
Stock-based Compensation (details)
Stock-based Compensation (tables)
Subsequent Events
Subsequent Events (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details 2)
Summary Of Significant Accounting Policies (details 3)
Summary Of Significant Accounting Policies (details 4)
Summary Of Significant Accounting Policies (details 5)
Summary Of Significant Accounting Policies (details 6)
Summary Of Significant Accounting Policies (details 7)
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Supplementary Quarterly Financial Data (unaudited)
Supplementary Quarterly Financial Data (unaudited) - (details)
Ticker: ADVS
CIK: 1002225
Form Type: 10-K Annual Report
Accession Number: 0001047469-15-001120
Submitted to the SEC: Tue Feb 24 2015 4:06:08 PM EST
Accepted by the SEC: Tue Feb 24 2015
Period: Wednesday, December 31, 2014
Industry: Computer Programming Services

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