Advent Software Inc (ADVS) SEC Filing 10-Q Quarterly report for the period ending Monday, June 30, 2014

Exhibit 99.1

ADVENT SOFTWARE REPORTS SECOND QUARTER

2014 RESULTS

Record Second Quarter Revenue of $100.4 Million and GAAP Diluted EPS of $0.24

SAN FRANCISCO — July 28, 2014

“We are pleased to report that Advent had an excellent second quarter with record revenues, robust profitability, and growing operating cash flow,” said Pete Hess, Chief Executive Officer of Advent. “Increasing demand for Advent’s solutions, including Advent Direct ® Investor Management, and continued client loyalty are evidence of our strong competitive position.”

SECOND QUARTER 2014 RESULTS

GAAP Results for Continuing Operations

The Company reported quarterly revenue of $100.4 million for the second quarter of 2014, compared to $96.1 million in the second quarter of 2013, a 4% increase.

Operating income for the second quarter of 2014 was $21.8 million, or 21.7% of revenue, compared to a loss of $5.8 million for the second quarter of 2013.  Advent’s results for the second quarter of 2013 included costs associated with its recapitalization transaction. These costs, on a pre-tax basis, were composed of $6.7 million of third party costs which were not included in capitalized debt issue costs and $21.9 million of stock-based compensation expense associated with the modification of equity awards.

Net income for the second quarter of 2014 was $12.7 million, compared to a loss of $4.2 million in the second quarter of 2013. On a fully diluted basis, earnings per share in the second quarter of 2014 were $0.24 compared to a loss of $0.08 in the second quarter of 2013.

Operating cash flow in the second quarter of 2014 was $22.4 million, compared with $21.9 million in the second quarter of 2013.

Cash and cash equivalents totaled $41 million as of June 30, 2014, compared to $45 million as of March 31, 2014. Total outstanding debt as of June 30, 2014 was $280 million compared to $295 million as of March 31, 2014.

Deferred revenue as of June 30, 2014 was $183.1 million, compared to $187.8 million as of March 31, 2014.

The Company repurchased approximately 426,000 shares of its common stock in the second quarter of 2014 for a total cash outlay of $12.4 million and at an average price of $29.11 per share.

Non-GAAP Results for Continuing Operations

Non-GAAP operating income for the second quarter of 2014 was $33.2 million, or 33.1% of revenue, a 7% increase compared to $31.0 million, or 32.3% of revenue, in the second quarter of 2013.

On a fully diluted basis, non-GAAP earnings per share were $0.38 in the second quarter of 2014 and represent a 4% increase from non-GAAP diluted net income per share of $0.37 in the second quarter of 2013.