Advent Software Q1 2014 revenue up slightly from 2013 period

Advent Software, Inc. (NASDAQ: ADVS) said it has reported quarterly revenue of USD96.8m for the first quarter of 2014, compared to USD92.5m in the first quarter of 2013, a 5 percent increase.

Operating income for the first quarter of 2014 was USD19.3m, or 20.0 percent of revenue, compared to USD16.2m or 17.5 percent of revenue for the first quarter of 2013.

Net income for the first quarter of 2014 was USD10.9m, compared to USD12.1m in the first quarter of 2013. On a fully diluted basis, earnings per share in the first quarter of 2014 were USD0.20, compared to USD0.23 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 percent.

Operating cash flow in the first quarter of 2014 was USD20.9m, compared with USD17.2m in the first quarter of 2013.

Cash and cash equivalents totaled USD45m as of March 31, 2014, compared to USD34m as of December 31, 2013. Total outstanding debt as of March 31, 2014 was USD295m compared to USD305m as of December 31, 2013.

Advent technology helps firms minimize risk, work together seamlessly, and discover new opportunities in a constantly evolving world. For more information on Advent products visit http://www.advent.com.

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