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SS&C Technologies Reports Record Q2 2013 Revenue, Up 46.8%

WINDSOR, Conn., Aug. 1, 2013 (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, 2013.

"Our second quarter results are further evidence that our business strategy is on target and our software-enabled services business continues to drive growth, with software-enabled services revenue up 62.6 percent over the same period in 2012," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies Holdings, Inc. "We are building world-class systems and processes and integrating them with subject matter expertise. Our Regulatory Solutions Group which was formed 1 year ago recently signed its 100 th customer. We intend to be the thought leader and customer service leader. New capabilities in trading, risk, investor communications, and asset coverage will cement our leadership position."

Results

SS&C reported GAAP revenue of $177.5 million for the second quarter of 2013, compared to $120.9 million in the second quarter of 2012, a 46.8 percent increase. GAAP operating income for the second quarter of 2013 was $45.3 million, or 25.5 percent of revenue. This represents an increase of 114.4 percent compared to $21.1 million, or 17.5 percent of revenue, in the second quarter of 2012. GAAP net income for the second quarter of 2013 was $26.1 million compared to a GAAP net loss of $5.8 million in the second quarter of 2012. On a fully diluted GAAP basis, earnings per share in the second quarter of 2013 were $0.31 compared to a fully diluted GAAP loss of $0.07 per share in the second quarter of 2012.

Adjusted operating income (a non-GAAP measure defined in note 2 to the attached Condensed Consolidated Financial Information) in the second quarter of 2013 was $68.8 million, or 38.7 percent of adjusted revenue. This represents a 49.9 percent increase compared to $45.9 million, or 37.8 percent of adjusted revenue, in the second quarter of 2012. Adjusted net income (a non-GAAP measure defined in note 4 to the attached Condensed Consolidated Financial Information) for the second quarter of 2013 was $41.0 million compared to $27.2 million in 2012's second quarter, a 50.5 percent increase. Adjusted diluted earnings per share (a non-GAAP measure defined in note 4 to the attached Condensed Consolidated Financial Information) in the second quarter of 2013 were $0.48 compared to $0.33 in the second quarter of 2012, a 45.5 percent increase.

Stock quotes in this article: SSNC 

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