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Advent Software Inc (ADVS) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

Advent Software Inc

CIK: 1002225 Ticker: ADVS

Exhibit 99.1

 

Advent Software Reports Fourth Quarter and Full Year 2012 Results

Company Achieves Record Quarterly Revenue of $92 Million and

Fourth Quarter Non-GAAP Operating Profit of $25 Million

 

SAN FRANCISCO — February 4, 2013

— 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, 2012.

 

“I am pleased to report that Advent delivered a strong fourth quarter and there is great momentum in the business,” said Pete Hess, Chief Executive Officer of Advent. “We continued to execute our strategy and increased our footprint both in the US and around the globe. This coming year marks our 30th anniversary and our business has never been stronger and we are excited to continue to partner with our clients to transform the investment management industry for the next 30 years.”

 

FOURTH QUARTER AND FULL YEAR 2012 RESULTS

 

GAAP Results for Continuing Operations

The company reported quarterly revenue of $92.0 million for the fourth quarter of 2012, compared to $86.3 million in the fourth quarter of 2011, a 7% increase. Total annual revenues for the year ended December 31, 2012 were $358.8 million, compared to $326.2 million recorded in 2011, a 10% increase.

 

Operating income for the fourth quarter of 2012 was $12.7 million, or 14% of revenue, compared to $10.1 million, or 12% of revenue, for the fourth quarter of 2011.  The fourth quarter of 2012 results included a $3.6 million restructuring charge related to the company’s reorganization.  Operating income for the year ended December 31, 2012 was $49.2 million, or 14% of revenue, compared to $42.6 million, or 13% of revenue, for 2011.

 

Net income for the fourth quarter of 2012 was $8.0 million compared to $6.5 million in the fourth quarter of 2011. Net income for the year ended December 31, 2012 was $30.2 million compared to $28.3 million for 2011, a 7% increase.

 

On a fully diluted basis, earnings per share in the fourth quarter of 2012 was $0.16 compared to $0.12 in the fourth quarter of 2011. On a fully diluted basis, earnings per share for the year ended December 31, 2012 was $0.58, compared to $0.52 for 2011.

 

Operating cash flows in the fourth quarter of 2012 totaled $32.8 million, compared with $27.6 million in the fourth quarter of 2011. Operating cash flows for the year ended December 31, 2012 totaled $86.6 million, compared with $83.2 million for 2011, a 4% increase.

 

Cash, cash equivalents and marketable securities totaled $231 million as of December 31, 2012, compared to $136 million as of December 31, 2011.  Total outstanding debt as of December 31, 2012 was $95 million compared to $50 million as of December 31, 2011.  Total deferred revenue was $183 million as of December 31, 2012, compared to $175 million as of December 31, 2011, a 5% increase.

 

Non-GAAP Results for Continuing Operations

Non-GAAP operating income for the fourth quarter of 2012 was $24.6 million, or 26.7% of revenue. This represents a 33% increase compared to $18.5 million of non-GAAP operating income, or 21.4% of revenue, in the fourth quarter of 2011.  Non-GAAP operating income for the year ended December 31, 2012 was $85.0 million, or 23.7% of revenue. This represents an

 


The following information was filed by Advent Software Inc (ADVS) on Monday, February 4, 2013 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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Inside this 10-K Annual Report

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)
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)
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 (proposed) (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)
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 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)
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)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Ticker: ADVS
CIK: 1002225
Form Type: 10-K Annual Report
Accession Number: 0001047469-13-001946
Submitted to the SEC: Thu Feb 28 2013 4:17:54 PM EST
Accepted by the SEC: Thu Feb 28 2013
Period: Monday, December 31, 2012
Industry: Computer Programming Services

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