Advent Software Inc (ADVS) SEC Filing 10-Q Quarterly report for the period ending Monday, March 31, 2014

Exhibit 99.1

ADVENT SOFTWARE REPORTS FIRST QUARTER

2014 RESULTS

Record First Quarter Operating Cash Flow of $20.9 Million, up 21%, and Annualized Recurring Run Rate of $376 Million, up 6%, Compared to The Prior Year.

SAN FRANCISCO — April 28, 2014

“Advent had a strong start to the year,” said Pete Hess, Chief Executive Officer of Advent Software.  “We are in a great position with solid profitability and excellent cash flow, and we continue to strengthen our competitive advantage while at the same time committing to further enhance shareholder value.”

FIRST QUARTER 2014 RESULTS

GAAP Results for Continuing Operations

The Company reported quarterly revenue of $96.8 million for the first quarter of 2014, compared to $92.5 million in the first quarter of 2013, a 5% increase.

Operating income for the first quarter of 2014 was $19.3 million, or 20.0% of revenue, compared to $16.2 million or 17.5% of revenue for the first quarter of 2013.

Net income for the first quarter of 2014 was $10.9 million, compared to $12.1 million in the first quarter of 2013. On a fully diluted basis, earnings per share in the first quarter of 2014 were $0.20, compared to $0.23 in the first quarter of 2013. In the first quarter of 2013, Advent benefited from the reinstatement of the federal research credit for 2012 and 2013, yielding a GAAP provisional tax rate of 24%.

Operating cash flow in the first quarter of 2014 was $20.9 million, compared with $17.2 million in the first quarter of 2013.

Cash and cash equivalents totaled $45 million as of March 31, 2014, compared to $34 million as of December 31, 2013. Total outstanding debt as of March 31, 2014 was $295 million compared to $305 million as of December 31, 2013.

Deferred revenue as of March 31, 2014 was $188 million, compared to $177 million as of March 31, 2013.

Non-GAAP Results for Continuing Operations

Non-GAAP operating income for the first quarter of 2014 was $29.2 million, or 30.2% of revenue. This represents an 11% increase compared to $26.4 million in the first quarter of 2013.

On a fully diluted basis, non-GAAP earnings per share were $0.33 in the first quarter of 2014 and represent a 1% increase from $0.32 in the first quarter of 2013.

The reconciliation between GAAP and non-GAAP financial measures is provided at the end of this press release.