Advent Software Q4 Profit In Line With Estimates

(RTTNews) - Advent Software Inc (ADVS), a provider of software to the investment management industry, on Monday reported fourth-quarter net earnings of $14.7 million or $0.27 per share compared with $11 million or $0.20 per share last year.

Excluding items, adjusted earnings for the quarter were $0.36 per share compared with $0.32 per share a year ago.

Revenues for the quarter were $100.7 million compared with $97.6 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.36 per share on revenues of $100.56 million for the quarter. Analysts' estimates typically exclude special items.

Separately, Advent agreed to be acquired by SS&C Technologies Holdings Inc (SSNC) for an enterprise value of about $2.7 billion in cash, equating to $44.25 per share plus assumption of debt.