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SS&C Technologies Results For Q2 2012, Record Revenue Of $120.9 Million

Stocks in this article: SSNC

WINDSOR, Conn., Aug. 9, 2012 (GLOBE NEWSWIRE) -- SS&C Technologies Holdings, Inc. (Nasdaq:SSNC), a global provider of investment and financial software-enabled services and software, today announced its financial results for the quarter that ended June 30, 2012.

"I am delighted to report that our second quarter revenue of $120.9 million rose 31.6 percent year-over-year," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies Holdings, Inc. "Q2 was a transformational quarter for SS&C. We began the quarter with 1,492 personnel and ended with 4,034. Our people in all of our businesses stayed focused, tended to our customers and delivered solid results. Organic adjusted revenue rose 3.4% as we overcame some customer attrition and the daily focus on the two large acquisitions. Hans Hufschmid, founder and chief executive officer of GlobeOp, has decided to move on to pursue other opportunities. We wish him all the best and he will continue in a consultative role with the company until January 2013. Rahul Kanwar, Senior Vice President and Managing Director, will assume overall responsibility for the SS&C GlobeOp Business reporting to Normand Boulanger, President and Chief Operating Officer."

"We are bringing forward powerful new products and services to market and as our teams gather momentum we are receiving good feedback from the marketplace. We are already beginning to see synergies across our businesses."

Results

The Company reported revenue of $120.9 million for the second quarter of 2012, compared to $91.8 million in the second quarter of 2011, an increase of 31.6 percent.

GAAP operating income for the second quarter of 2012 was $21.1 million, or 17.5 percent of revenue, down from $22.9 million in 2011's second quarter, or 24.9 percent of revenue. GAAP net loss for the second quarter of 2012 was $5.8 million compared to net income of $13.0 million in the second quarter of 2011.

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