Reports
Revenues Rise At Financial Tech Big-Hitter Advent Software
Advent Software, the US financial software firm serving
sectors including wealth management, reported a rise in
third-quarter revenue
of $96.8 million, compared with $90.2 million in the same three
months of 2012.
“Advent delivered record revenues and solid profitability,
demonstrating the value customers continue to place on our
solutions,” Pete
Hess, chief executive, said in a statement yesterday.
Operating income for the third quarter was $17.4 million, or
18.0 per cent of revenue, compared to $12.6 million or 14.0 per
cent of revenue
for the third quarter of 2012.
Net income was $9.8 million compared to $7.7 million a year
before, Advent
Software said.
On a fully diluted basis, earnings per share in the third
quarter of 2013 were $0.18, compared to $0.15 a year before.
The firm said it reported continued growth across all of its
client segments, from hedge funds and asset managers to family
offices, fund
administrators and the growing advisory market.
New clients included Crabel Capital Management; Seer Capital
Management; Whitebox Advisors; Evercore Wealth Management; Cain,
Watters &
Associates; Essex Financial Services; Watermark Asset Management;
Sparebanken
Vest; Herald Investment Management, and CACEIS.
