Advent Software Beats Estimates (ADVS)

San Francisco, California based software and service provider Advent Software, Inc.

released financial results late Monday that beat Wall Street estimates. Advent Software, Inc. (

) announced that its 2nd quarter net income from continuing operations fell 32% to $4.8 million, down from $7.2 million, a year earlier. Excluding special items, the company reported earnings of 33 cents per share. The company reported that revenue from continuing operations rose 10% to $69.3 million, up from $63.1 million a year earlier. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 31 cents per share, on revenue of $67.93 million. The company forecast 3rd quarter revenue from continuing operations of $70 million to $72 million and full year revenue of $277 million to $281 million. Advent Software finished Monday trading at $50.48 per share. The consensus price target of analysts covering the company's stock is $48 per share. Read more