23 October 2017
Register now

Advent Software posts Q4 revenue rise

11 February 2014  |  1223 views  |  0 Source: Advent Software

Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services to the global investment management industry, has announced its financial results for the fourth quarter and year ended December 31, 2013.

"The fourth quarter capped off a year of record revenue and operating cash flow, while we also expanded non-GAAP operating margin to 30% for the year," said Pete Hess, Chief Executive Officer of Advent. "Advent's success, including our strong renewal rates, demonstrates our ability to help customers respond to the evolving trends in investment management. We are excited about our solutions and ability to expand the value we provide to clients and shareholders."

FOURTH QUARTER AND FULL YEAR 2013 HIGHLIGHTS
• Strong Renewal Rate: Advent delivered a strong initially reported renewal rate for Q3 2013 of 97%, compared to 94% the same period last year. This is the highest initial renewal rate reported in five years.

• International Success: Advent saw enhanced success in the international market, signing SMT Fund Services, part of Sumitomo Mitsui Bank Group, as well as Nordea Bank AB in the fourth quarter.

• Solid Growth in Black Diamond: Total assets on the platform increased 64% for the year to over $220 billion and the number of clients increased 29%, including many large advisory firms, such as McGladrey Wealth Management and Essex Financial. Black Diamond also achieved its highest renewal rate and client satisfaction scores in its history.

• New Releases across the Product Portfolio: Advent announced global availability of new releases to several key products that includes compelling new functionality for asset and wealth management firms, alternative managers, family offices, and administrators. The updated products include Geneva®, Advent Portfolio Exchange® (APX), Moxy®, Advent Rules Manager®, and Advent Revenue Center®. 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Register nowvisit www.niceactimize.comvisit www.atos.net

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
15274 views comments | 17 tweets | 29 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
13540 views comments | 22 tweets | 28 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
9975 views comments | 12 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
9923 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8927 views comments | 9 tweets | 18 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job