Advent Software Matches Estimates.

Updated from 9:45 a.m. EDT

Advent Software(ADVS Quote) said Thursday its second-quarter profit fell 59.3%, although pro forma earnings matched Wall Street forecasts.

The San Francisco-based software vendor earned $1.6 million, or 5 cents a share, in the quarter, compared with $3.9 million, or 13 cents a share, a year ago. The most recent quarter includes stock options expense of $3.5 million; there was no comparable expense in the year-ago period.

A company spokeswoman said Advent earned 13 cents a share in the current period on a pro forma basis that excludes the options expense. On that basis, analysts polled by Thomson First Call were estimating earnings of 13 cents a share.

Second quarter revenue rose 8.4% from a year ago quarter to $44.4 million as against analysts' expectation of $43.6 million.

Advent expects third quarter revenue to be $44 million to $46 million as against analysts' estimate of $46.2 million.

The company reaffirmed its full-year revenue guidance of $180 million to $185 million. Analysts estimate the company to post revenue of $182.8 million.

Maintenance and other recurring revenue rose 19% to $31.9 million. License and development fees fell 13.3% to $8.4, while revenue from professional services declined 21.8% to $4.1 million.

"We are very pleased to report another strong quarter for Advent, which reflects the ongoing strength and momentum of Advent's core business," the company said. "The robust demand for our industry-leading solutions has allowed us to expand our customer base while investing for growth and managing our costs -- positioning Advent for continued leadership in our market."