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Advent Software Inc (ADVS) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2011

Advent Software Inc

CIK: 1002225 Ticker: ADVS

Exhibit 99.1

 

Advent Software Achieves Record Quarterly Revenue of $86 Million and Record Annual Revenue of $326 Million for 2011

Company Reports Record ACV of $34 Million for the Year

 

SAN FRANCISCO — February 6, 2012

— 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 ended December 31, 2011.

 

“I am very proud of Advent’s 2011 performance and strong fourth quarter finish. We achieved record revenue and record annual contract value, while simultaneously expanding non-GAAP operating margin to 22 percent for the year,” said Stephanie DiMarco, Founder and Chief Executive Officer of Advent.  “In addition to the Company’s strong financial performance, we successfully executed on our core strategies to strengthen our portfolio of products and services and expand our global footprint and addressable market.  As a result, we head into 2012 with great momentum for Advent’s next phase of growth.”

 

FOURTH QUARTER 2011 RESULTS

 

GAAP Results for Continuing Operations

 

The Company reported quarterly revenue from continuing operations of $86.3 million for the fourth quarter of 2011, up from $75.6 million in the fourth quarter of 2010, a 14% increase.  Total annual revenues from continuing operations for the year ended December 31, 2011 were $326.2 million, compared to $283.5 million recorded in 2010, a 15% increase.

 

Operating income from continuing operations for the fourth quarter of 2011 was $10.1 million, or 12% of revenue, compared to $11.7 million or 16% of revenue for the fourth quarter of 2010.  Operating income from continuing operations for the year ended December 31, 2011 was $42.6 million, or 13% of revenue, compared to $36.3 million, or 13% of revenue, for 2010.

 

Net income from continuing operations for the fourth quarter of 2011 was $6.5 million compared to $9.2 million in the fourth quarter of 2010, a 29% decrease.   Net income from continuing operations for the year ended December 31, 2011 was $28.3 million compared to $24.3 million for 2010, a 16% increase.

 

On a fully diluted basis, earnings per share from continuing operations in the fourth quarter of 2011 were $0.12, compared to diluted earnings per share of $0.17 in the fourth quarter of 2010. On a fully diluted basis, earnings per share from continuing operations for the year ended December 31, 2011 were $0.52, compared to $0.45 per share for 2010.

 

Operating cash flow from continuing operations in the fourth quarter of 2011 was $27.6 million, compared with $24.4 million in the fourth quarter of 2010, a 13% increase. Operating cash flow from continuing operations for the year ended December 31, 2011 was $83.2 million, compared with $76.2 million for 2010, a 9% increase.  Cash, cash equivalents and short and long-term marketable securities totaled $136.3 million as of December 31, 2011, compared to $152.0 million as of December 31, 2010.

 

Total deferred revenues were $174.9 million as of December 31, 2011, compared to $154.2 million from continuing operations as of December 31, 2010, a 13% increase.

 


The following information was filed by Advent Software Inc (ADVS) on Monday, February 6, 2012 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' Equity
Acquisitions
Acquisitions (details)
Acquisitions (tables)
Balance Sheet Detail
Balance Sheet Detail (details 2)
Balance Sheet Detail (details 3)
Balance Sheet Detail (details 4)
Balance Sheet Detail (details 5)
Balance Sheet Detail (details)
Balance Sheet Detail (tables)
Cash Equivalents And Marketable Securities
Cash Equivalents And Marketable Securities (details)
Cash Equivalents And Marketable Securities (tables)
Commitments And Contingencies
Commitments And Contingencies (details 2)
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)
Derivative Financial Instruments
Derivative Financial Instruments (details)
Discontinued Operation
Discontinued Operation (details 2)
Discontinued Operation (details)
Discontinued Operation (tables)
Fair Value Measurements
Fair Value Measurements (details)
Fair Value Measurements (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)
Restructuring Charges
Restructuring Charges (details)
Restructuring Charges (tables)
Schedule Ii Valuation And Qualifying Accounts
Schedule Ii Valuation And Qualifying Accounts (details)
Schedule Ii Valuation And Qualifying Accounts (tables)
Segment, Significant Customer And Geographic Information
Segment, Significant Customer And Geographic Information (details 2)
Segment, Significant Customer And Geographic Information (details)
Segment, Significant Customer And Geographic Information (tables)
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)
Stock-based Compensation (tables)
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)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Ticker: ADVS
CIK: 1002225
Form Type: 10-K Annual Report
Accession Number: 0001047469-12-001907
Submitted to the SEC: Wed Feb 29 2012 4:16:15 PM EST
Accepted by the SEC: Wed Feb 29 2012
Period: Saturday, December 31, 2011
Industry: Computer Programming Services

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