Advent Software Q3 Profit Beats Estimates - Quick Facts

(RTTNews) - Advent Software, Inc. (ADVS), a leading provider of software and services to the global investment management industry, reported third-quarter net income of $12.0 million, compared to $9.8 million in the third quarter of 2013. Earnings per share were $0.22 compared to $0.18. Non-GAAP earnings per share were $0.37 for the third quarter of 2014.

On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.36 for the quarter. Analysts' estimates typically exclude special items.

Revenue was $99.0 million, compared to $96.8 million in the third quarter of 2013, a 2% increase. Analysts expected revenue of $101.69 million for the quarter.

"Advent posted another solid performance in the quarter, with excellent profitability and robust cash flow. We had great attendance at AdventConnect, our annual client conference, and clients and prospects responded enthusiastically to the many enhancements we showcased across our solution suite, as evidenced by our strong renewals and healthy bookings this quarter," said Pete Hess, CEO of Advent.

Advent updated its financial guidance for the fourth quarter and fiscal year 2014. The company now expects its fourth-quarter revenue in the range of $99 million to $102 million. Fiscal 2014 revenue is expected to be in the range of $395 million to $398 million. Analysts expect the company to report fourth-quarter revenue of $102.13 million, and full year revenue of $400.97 million.