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UPDATE: Advent Software Reports Fourth Quarter and Full Year 2012 Results

Company Achieves Record Quarterly Revenue of $92 Million and Fourth Quarter Non-GAAP Operating Profit of $25 Million

SAN FRANCISCO, CA -- (Marketwire) -- 02/04/13 -- Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services to the global investment management industry, announced today its financial results for the fourth quarter ended December 31, 2012.

"I am pleased to report that Advent delivered a strong fourth quarter and there is great momentum in the business," said Pete Hess, Chief Executive Officer of Advent. "We continued to execute our strategy and increased our footprint both in the US and around the globe. This coming year marks our 30th anniversary and our business has never been stronger and we are excited to continue to partner with our clients to transform the investment management industry for the next 30 years."

FOURTH QUARTER AND FULL YEAR 2012 RESULTS

GAAP Results for Continuing Operations
The company reported quarterly revenue of $92.0 million for the fourth quarter of 2012, compared to $86.3 million in the fourth quarter of 2011, a 7% increase. Total annual revenues for the year ended December 31, 2012 were $358.8 million, compared to $326.2 million recorded in 2011, a 10% increase.

Operating income for the fourth quarter of 2012 was $12.7 million, or 14% of revenue, compared to $10.1 million, or 12% of revenue, for the fourth quarter of 2011. The fourth quarter of 2012 results included a $3.6 million restructuring charge related to the company's reorganization. Operating income for the year ended December 31, 2012 was $49.2 million, or 14% of revenue, compared to $42.6 million, or 13% of revenue, for 2011.

Net income for the fourth quarter of 2012 was $8.0 million compared to $6.5 million in the fourth quarter of 2011. Net income for the year ended December 31, 2012 was $30.2 million compared to $28.3 million for 2011, a 7% increase.

On a fully diluted basis, earnings per share in the fourth quarter of 2012 was $0.16 compared to $0.12 in the fourth quarter of 2011. On a fully diluted basis, earnings per share for the year ended December 31, 2012 was $0.58, compared to $0.52 for 2011.

Operating cash flows in the fourth quarter of 2012 totaled $32.8 million, compared with $27.6 million in the fourth quarter of 2011. Operating cash flows for the year ended December 31, 2012 totaled $86.6 million, compared with $83.2 million for 2011, a 4% increase.

Cash, cash equivalents and marketable securities totaled $231 million as of December 31, 2012, compared to $136 million as of December 31, 2011. Total outstanding debt as of December 31, 2012 was $95 million compared to $50 million as of December 31, 2011. Total deferred revenue was $183 million as of December 31, 2012, compared to $175 million as of December 31, 2011, a 5% increase.

Non-GAAP Results for Continuing Operations
Non-GAAP operating income for the fourth quarter of 2012 was $24.6 million, or 26.7% of revenue. This represents a 33% increase compared to $18.5 million of non-GAAP operating income, or 21.4% of revenue, in the fourth quarter of 2011. Non-GAAP operating income for the year ended December 31, 2012 was $85.0 million, or 23.7% of revenue. This represents an 18% increase compared to $72.2 million of non-GAAP operating income, or 22.1% of revenue, for 2011.

On a fully diluted basis, non-GAAP earnings per share was $0.30 in the fourth quarter of 2012 and represents a 37% increase from non-GAAP diluted net income per share of $0.22 in the fourth quarter of 2011. On a fully diluted basis, non-GAAP net income per share was $1.03 for the year ended December 31, 2012, a 21% increase compared to $0.86 per share for 2011.

The reconciliation between GAAP and non-GAAP financial measures is provided at the end of this press release.

FOURTH QUARTER HIGHLIGHTS

  • Fourth Quarter Bookings: The annual contract value of our new contract bookings in the fourth quarter of 2012 will contribute $11.1 million in incremental annual revenue once the contracts are fully implemented. New clients represented all types of investment managers around the world including Moneta Group, Wedgewood Partners, QV Investors Inc., Courtiers Investment Services Limited, and Gjensidige Investeringsradgivning AS, amongst others.

  • Enhanced Functionality for Solutions: In the fourth quarter, we launched coordinated releases of Advent Portfolio Exchange® (APX), Moxy®, and their associated products, providing clients with expanded instrument coverage, enhanced data presentation and improved reconciliation processes.

  • Award-Winning Solutions: APX was named "Best Buy-Side CRM Product" by Buy-Side Technology magazine. The annual award honors the accomplishments and innovations of products and services designed for buy-side investment professionals. In addition, Moxy® won "Best-in-Class" for Enterprise Support in the key industry analyst - CEB TowerGroup's OMS Technology Analysis report.

FINANCIAL GUIDANCE
Advent provides the following financial guidance for the first quarter and fiscal year 2013:


----------------------------------------------------------------------------
                       Guidance                          Q1 2013    FY 2013
----------------------------------------------------------------------------
Total Revenue ($M)                                       $91-$93   $373-$379
----------------------------------------------------------------------------
GAAP Operating Margin(% of revenue)                        n/a    17.5-18.0%
----------------------------------------------------------------------------
Amortization of Intangibles (% of revenue)                 n/a        3%
----------------------------------------------------------------------------
Stock Compensation Expense (% of revenue)                  n/a        6%
----------------------------------------------------------------------------
Restructuring Charge (% of revenue)                        1%        0.5%
----------------------------------------------------------------------------
Non-GAAP Operating Margin (% of revenue)                   n/a    27.0-27.5%
----------------------------------------------------------------------------
GAAP Effective Tax Rate(% of Income Before Tax)           20%*      30%-35%
----------------------------------------------------------------------------
Non-GAAP Effective Tax Rate (% of Income Before Tax)       n/a        35%
----------------------------------------------------------------------------
Operating Cash Flow ($M)                                   n/a      $93-$97
----------------------------------------------------------------------------
Capital Expenditures ($M)                                  n/a      $10-$12
----------------------------------------------------------------------------

*Q1 2013 GAAP Effective Tax Rate reflects the impact of the 2012 federal
 research and development tax credit enacted in January, 2013.

INVESTOR CALL

Advent Software, Inc. will host its fourth quarter 2012 earnings conference call at 5:00 p.m. Eastern time today. The fourth quarter 2012 earnings presentation and trended disclosures file, which include highlights and detailed financial information, are currently available at http://investor.advent.com. To participate via phone, please dial (800) 510-9834 and request conference ID #35271995. Telephone replay will be available through midnight February 11, 2013. The replay number for domestic callers is (888) 286-8010, and for international callers is (617) 801-6888, with the conference ID of #60805668.The conference call will also be webcast live and then archived on http://investor.advent.com.

ABOUT ADVENT
Advent Software, Inc. (www.advent.com), a global firm, has provided trusted solutions to the world's financial professionals since 1983. Advent's proven solutions can increase operational efficiency, reduce risk, and eliminate the boundaries between systems, information and people so you can focus on what you do best. With more than 4,500 client firms in over 60 countries, Advent has established itself as a leading provider of mission-critical solutions to meet the demands of investment management operations around the world. Advent is the only financial services software company to be awarded the Service Capability and Performance certification for being a world-class support and services organization. For more information on Advent products visit http://www.advent.com/about/resources/demos/pr.

ABOUT NON-GAAP FINANCIAL INFORMATION
This press release includes non-GAAP financial measures. For a description of these non-GAAP financial measures, including the reasons management uses each measure, and reconciliations of these non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with Generally Accepted Accounting Principles (GAAP), please see the accompanying tables entitled "Reconciliation of Selected Continuing Operations' GAAP Measures to Non-GAAP Measures" and "Reconciliation of Projected Continuing Operations' GAAP Operating Income % to Non-GAAP Operating Income %."

FORWARD-LOOKING STATEMENTS
The financial projections under Financial Guidance, and statements regarding the business momentum, strength of the business, market opportunities, and any other forward-looking statements included in this presentation reflect management's best judgment based on factors currently known and involve risks and uncertainties; our actual results may differ materially from those discussed here. These risks and uncertainties include: potential fluctuations in new contract bookings, renewal rates, operating results and future growth rates; continued market acceptance of our Advent Portfolio Exchange®, Geneva®, and Moxy® products; the successful development, release and market acceptance of new products, services and enhancements; uncertainties and fluctuations in the financial markets; the Company's ability to satisfy contractual performance requirements; difficulties in achieving organizational objectives and other risks detailed from time to time in our SEC reports including, but not limited to, our quarterly reports on Form 10-Q and our 2011 annual report on Form 10-K. The Company disclaims any intention or obligation to publicly update or revise any forward-looking statements including any guidance, whether as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Advent, the Advent logo, Advent Software, Advent Portfolio Exchange, and Moxy are registered trademarks of Advent Software, Inc. All other company names or marks mentioned herein are those of their respective owners.



                           ADVENT SOFTWARE, INC.
                   CONDENSED CONSOLIDATED BALANCE SHEETS
                               (In thousands)
                             (GAAP, Unaudited)

                                                  December 31   December 31
                                                     2012          2011
                                                 ------------  ------------
ASSETS
Current assets:
    Cash and cash equivalents                    $     58,217  $     65,525
    Short-term marketable securities                  111,192        69,908
    Accounts receivable, net                           61,069        62,125
    Deferred taxes, current                            18,934        16,294
    Prepaid expenses and other                         25,868        23,660
    Current assets of discontinued operation               88             -
                                                 ------------  ------------
        Total current assets                          275,368       237,512
Property and equipment, net                            37,269        42,301
Goodwill                                              206,932       204,621
Other intangibles, net                                 38,205        49,521
Long-term marketable securities                        61,552           917
Deferred taxes, long-term                              24,524        30,751
Other assets                                           12,994        15,927
Noncurrent assets of discontinued operation             1,609         2,006
                                                 ------------  ------------

        Total assets                             $    658,453  $    583,556
                                                 ============  ============

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
    Accounts payable                             $      5,190  $     10,558
    Accrued liabilities                                37,096        40,029
    Deferred revenues                                 174,388       166,945
    Income taxes payable                                5,593         2,972
    Current portion of long-term debt                  10,000         5,000
    Current liabilities of discontinued
     operation                                            262           488
                                                 ------------  ------------
        Total current liabilities                     232,529       225,992
Deferred revenues, long-term                            8,787         7,926
Long-term income taxes payable                          5,335         3,196
Long-term debt                                         85,000        45,000
Other long-term liabilities                            13,139        13,748
Noncurrent liabilities of discontinued operation        3,804         4,633
                                                 ------------  ------------

        Total liabilities                             348,594       300,495
                                                 ------------  ------------


Stockholders' equity:
    Common stock                                          505           510
    Additional paid-in capital                        453,585       429,734
    Accumulated deficit                              (154,261)     (154,053)
    Accumulated other comprehensive income             10,030         6,870
                                                 ------------  ------------
        Total stockholders' equity                    309,859       283,061
                                                 ------------  ------------

        Total liabilities and stockholders'
         equity                                  $    658,453  $    583,556
                                                 ============  ============



                           ADVENT SOFTWARE, INC.
              CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                   (In thousands, except per share data)
                             (GAAP, Unaudited)

                                  Three Months Ended   Twelve Months Ended
                                      December 31           December 31
                                 --------------------  --------------------
                                    2012       2011       2012       2011
                                 ---------  ---------  ---------  ---------

Net revenues:
Recurring revenues               $  83,875  $  77,760  $ 324,627  $ 291,486
Non-recurring revenues               8,142      8,525     34,192     34,762
                                 ---------  ---------  ---------  ---------

    Total net revenues              92,017     86,285    358,819    326,248

Cost of revenues (1):
Recurring revenues                  16,991     16,711     68,953     62,329
Non-recurring revenues               9,890      9,953     43,505     39,623
Amortization of developed
 technology                          2,558      2,555     10,258      8,820
                                 ---------  ---------  ---------  ---------

    Total cost of revenues          29,439     29,219    122,716    110,772
                                 ---------  ---------  ---------  ---------

    Gross margin                    62,578     57,066    236,103    215,476

Operating expenses (1):
Sales and marketing                 18,566     19,496     74,688     74,807
Product development                 16,637     16,065     67,014     57,561
General and administrative          10,144      9,904     37,763     37,040
Amortization of other
 intangibles                           958        956      3,825      2,807
Restructuring charges                3,581        565      3,634        696
                                 ---------  ---------  ---------  ---------

    Total operating expenses        49,886     46,986    186,924    172,911
                                 ---------  ---------  ---------  ---------

Income from continuing
 operations                         12,692     10,080     49,179     42,565
Interest and other income
 (expense), net                       (515)      (406)    (1,620)    (1,243)
                                 ---------  ---------  ---------  ---------

Income from continuing
 operations before income taxes     12,177      9,674     47,559     41,322
Provision for income taxes           4,147      3,143     17,328     12,991
                                 ---------  ---------  ---------  ---------

    Net income from continuing
     operations                  $   8,030  $   6,531  $  30,231  $  28,331

Discontinued operation:
    Net (loss) income from
     discontinued operation (net
     of applicable taxes of
     $(8), $(114), $126, and
     $1,197, respectively)             (49)        66        184      1,839

                                 ---------  ---------  ---------  ---------
Net income                       $   7,981  $   6,597  $  30,415  $  30,170
                                 =========  =========  =========  =========

Basic net income per share (2):
    Continuing operations        $    0.16  $    0.13  $    0.60  $    0.55
    Discontinued operation            0.00       0.00       0.00       0.04
                                 ---------  ---------  ---------  ---------
        Total operations         $    0.16  $    0.13  $    0.60  $    0.58
                                 =========  =========  =========  =========

Diluted net income per share
 (2):
    Continuing operations        $    0.16  $    0.12  $    0.58  $    0.52
    Discontinued operation            0.00       0.00       0.00       0.03
                                 ---------  ---------  ---------  ---------
        Total operations         $    0.15  $    0.12  $    0.58  $    0.56
                                 =========  =========  =========  =========

Weighted average shares used to
 compute net income per share:
    Basic                           50,276     50,848     50,614     51,797
    Diluted                         51,802     53,051     52,425     54,085

(1) Includes stock-based
 employee compensation expense
 as follows:

    Cost of recurring revenues   $     595  $     619  $   2,405  $   2,154
    Cost of non-recurring
     revenues                          310        341      1,236      1,314
                                 ---------  ---------  ---------  ---------
        Total cost of revenues         905        960      3,641      3,468

    Sales and marketing              1,902      1,579      7,165      6,305
    Product development              1,483      1,340      5,821      5,138
    General and administrative       1,167      1,092      4,174      4,227
                                 ---------  ---------  ---------  ---------
        Total operating expenses     4,552      4,011     17,160     15,670
                                 ---------  ---------  ---------  ---------

    Total stock-based employee
     compensation expense        $   5,457  $   4,971  $  20,801  $  19,138
                                 =========  =========  =========  =========

(2) Net income per share is based on actual calculated values and totals
 may not sum due to rounding.



                           ADVENT SOFTWARE, INC.
              CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                               (In thousands)
                             (GAAP, Unaudited)

                                                     Twelve Months Ended
                                                         December 31
                                                 --------------------------
                                                     2012          2011
                                                 ------------  ------------
Cash flows from operating activities:
   Net income                                    $     30,415  $     30,170
   Adjustment to net income for discontinued
    operation                                            (184)       (1,839)
                                                 ------------  ------------
   Net income from continuing operations         $     30,231  $     28,331

   Adjustments to reconcile net income to net
    cash provided by operating activities from
    continuing operations:
      Stock-based compensation                         20,801        19,138
      Excess tax benefit from stock-based
       compensation                                    (7,785)       (7,055)
      Depreciation and amortization                    25,879        22,632
      Amortization of debt issuance costs                 381             -
      Provision for doubtful accounts                     403           230
      Provision for (reduction of) sales returns        1,154          (187)
      Non-cash impairment loss                              -           500
      Deferred income taxes                             5,230         4,700
      Other                                              (252)          103
                                                 ------------  ------------
            Effect of statement of operations
             adjustments                               45,811        40,061
      Changes in operating assets and
       liabilities:
         Accounts receivable                              575       (10,198)
         Prepaid and other assets                         822        (6,977)
         Accounts payable                              (5,368)        3,734
         Accrued liabilities                           (2,055)        3,069
         Deferred revenues                              7,151        18,560
         Income taxes payable                           9,453         6,604
                                                 ------------  ------------
            Effect of changes in operating
             assets and liabilities                    10,578        14,792
                                                 ------------  ------------

Net cash provided by operating activities from
 continuing operations                                 86,620        83,184

Cash flows from investing activities:
   Cash used in acquisitions, net of cash
    acquired                                             (700)      (97,092)
   Purchases of property and equipment                 (6,369)      (11,252)
   Capitalized software development costs              (2,137)       (2,358)
   Purchases of marketable securities                (220,994)      (89,236)
   Sales and maturities of marketable securities      118,588        87,428
   Change in restricted cash                               95             -
                                                 ------------  ------------

Net cash provided by investing activities from
 continuing operations                               (111,517)     (112,510)

Cash flows from financing activities:
   Proceeds from common stock issued from
    exercises of stock options                          5,173         7,189
   Withholding taxes related to equity award net
    share settlement                                   (5,496)       (5,775)
   Proceeds from common stock issued under the
    employee stock purchase plan                        6,661         6,158
   Repurchase of common stock                         (41,275)      (51,582)
   Proceeds from debt                                  50,000        50,000
   Repayment of debt                                   (5,000)            -
   Debt issuance costs                                      -        (1,901)
   Excess tax benefits from stock-based
    compensation                                        7,785         7,055
                                                 ------------  ------------

Net cash used in financing activities from
 continuing operations                                 17,848        11,144

Net cash transferred (to) from discontinued
 operation                                               (561)        1,655

Effect of exchange rate changes on cash and cash
 equivalents                                              302           104
                                                 ------------  ------------

Net change in cash and cash equivalents from
 continuing operations                                 (7,308)      (16,423)
Cash and cash equivalents of continuing
 operations at beginning of period                     65,525        81,948
                                                 ------------  ------------

Cash and cash equivalents of continuing
 operations at end of period                     $     58,217  $     65,525
                                                 ============  ============


                                                     Twelve Months Ended
                                                         December 31
                                                 --------------------------
                                                     2012          2011
                                                 ------------  ------------
Supplemental disclosure of cash flow information
Cash flow from discontiued operation:
   Net cash used in operating activities         $       (561) $     (1,349)
   Net cash provided by investing activities                -         3,004
   Net cash transferred from (to) continuing
    operations                                            561        (1,655)
   Effect of exchange rates on cash and cash
    equivalents                                             -             -
                                                 ------------  ------------
   Net change in cash and cash equivalents from
    discontinued operations                                 -             -
   Cash and cash equivalents of discontinued
    operation at beginning of period                        -             -
                                                 ------------  ------------
   Cash and cash equivalents of discontinued
    operation at end of period                   $          -  $          -
                                                 ============  ============

The cash flows from the discontinued operation, as presented in the
condensed consolidated statement of cash flows, relate to the operations of
MicroEdge.



                           ADVENT SOFTWARE, INC.
RECONCILIATION OF SELECTED CONTINUING OPERATIONS' GAAP MEASURES TO NON-GAAP
                                  MEASURES
                   (In thousands, except per share data)
                                (Unaudited)

To supplement our condensed consolidated financial statements presented on
a GAAP basis, Advent uses non-GAAP measures of continuing operations'
operating income, net income and net income per share, which are adjusted
to exclude certain costs, expenses, gains and losses we believe appropriate
to enhance an overall understanding of our past financial performance and
also our prospects for the future. These adjustments to our current period
GAAP results are made with the intent of providing both management and
investors a more complete understanding of Advent's underlying operational
results and trends and our marketplace performance. In addition, these
adjusted non-GAAP results are among the information management uses as a
basis for our planning and forecasting of future periods. The presentation
of this additional information is not meant to be considered in isolation
or as a substitute for results prepared in accordance with generally
accepted accounting principles in the United States of America.


                               Three Months Ended December 31, 2012 for
                                         Continuing Operations
                           ------------------------------------------------
                             Gross    Gross   Operating Operating     Net
                            Margin  Margin %    Income   Income %   Income
                           -------- --------  --------- ---------  --------

GAAP                       $ 62,578       68% $  12,692        14% $  8,030

   Amortization of
    acquired developed
    technology                1,908               1,908               1,908
   Amortization of other
    acquired intangibles          -                 958                 958
   Stock-based
    compensation - cost of
    revenues                    905                 905                 905
   Stock-based
    compensation -
    operating expenses            -               4,552               4,552
   Restructuring charges          -               3,581               3,581
   Income tax adjustment
    for non-GAAP (1)              -                   -              (4,281)

                           --------           ---------            --------
Non-GAAP                   $ 65,391       71% $  24,596        27% $ 15,653
                           ========           =========            ========

Diluted net income per
 share
   GAAP                                                            $   0.16
   Non-GAAP                                                        $   0.30

Shares used to compute
 diluted net income per
 share                                                               51,802

                               Three Months Ended December 31, 2011 for
                                         Continuing Operations
                           ------------------------------------------------
                             Gross    Gross   Operating Operating     Net
                            Margin  Margin %    Income   Income %   Income
                           -------- --------  --------- ---------  --------

GAAP                       $ 57,066       66% $  10,080        12% $  6,531

   Amortization of
    acquired developed
    technology                1,899               1,899               1,899
   Amortization of other
    acquired intangibles          -                 956                 956
   Stock-based
    compensation - cost of
    revenues                    960                 960                 960
   Stock-based
    compensation -
    operating expenses            -               4,011               4,011
   Restructuring charges          -                 565                 565
   Income tax adjustment
    for non-GAAP (1)              -                   -              (3,180)

                           --------           ---------            --------
Non-GAAP                   $ 59,925       69% $  18,471        21% $ 11,742
                           ========           =========            ========

Diluted net income per
 share
   GAAP                                                            $   0.12
   Non-GAAP                                                        $   0.22

Shares used to compute
 diluted net income per
 share                                                               53,051

(1) The estimated non-GAAP effective tax rate was 35% for the three months
    ended December 31, 2012 and 2011, respectively, and has been used to
    adjust the provision for income taxes for non-GAAP purposes.



                           ADVENT SOFTWARE, INC.
RECONCILIATION OF SELECTED CONTINUING OPERATIONS' GAAP MEASURES TO NON-GAAP
                                  MEASURES
                   (In thousands, except per share data)
                                (Unaudited)

To supplement our condensed consolidated financial statements presented on
a GAAP basis, Advent uses non-GAAP measures of continuing operations'
operating income, net income and net income per share, which are adjusted
to exclude certain costs, expenses, gains and losses we believe appropriate
to enhance an overall understanding of our past financial performance and
also our prospects for the future. These adjustments to our current period
GAAP results are made with the intent of providing both management and
investors a more complete understanding of Advent's underlying operational
results and trends and our marketplace performance. In addition, these
adjusted non-GAAP results are among the information management uses as a
basis for our planning and forecasting of future periods. The presentation
of this additional information is not meant to be considered in isolation
or as a substitute for results prepared in accordance with generally
accepted accounting principles in the United States of America.


                               Twelve Months Ended December 31, 2012 for
                                         Continuing Operations
                           ------------------------------------------------
                             Gross    Gross   Operating Operating     Net
                            Margin  Margin %    Income   Income %   Income
                           -------- --------  --------- ---------  --------

GAAP                       $236,103       66% $  49,179        14% $ 30,231

   Amortization of
    acquired developed
    technology                7,599               7,599               7,599
   Amortization of other
    acquired intangibles          -               3,825               3,825
   Stock-based
    compensation - cost of
    revenues                  3,641               3,641               3,641
   Stock-based
    compensation -
    operating expenses            -              17,160              17,160
   Restructuring charges          -               3,634               3,634
   Income tax adjustment
    for non-GAAP (1)              -                   -             (11,868)

                           --------           ---------            --------
Non-GAAP                   $247,343       69% $  85,038        24% $ 54,222
                           ========           =========            ========

Diluted net income per
 share
   GAAP                                                            $   0.58
   Non-GAAP                                                        $   1.03

Shares used to compute
 diluted net income per
 share                                                               52,425

                               Twelve Months Ended December 31, 2011 for
                                         Continuing Operations
                           ------------------------------------------------
                             Gross    Gross   Operating Operating     Net
                            Margin  Margin %    Income   Income %   Income
                           -------- --------  --------- ---------  --------

GAAP                       $215,476       66% $  42,565        13% $ 28,331

   Amortization of
    acquired developed
    technology                6,019               6,019               6,019
   Amortization of other
    acquired intangibles          -               2,807               2,807
   Stock-based
    compensation - cost of
    revenues                  3,468               3,468               3,468
   Stock-based
    compensation -
    operating expenses            -              15,670              15,670
   Acquisition related            -                 936                 936
   Investment loss                -                   -                 500
   Restructuring charges          -                 696                 696
   Income tax adjustment
    for non-GAAP (1)              -                   -             (12,005)

                           --------           ---------            --------
Non-GAAP                   $224,963       69% $  72,161        22% $ 46,422
                           ========           =========            ========

Diluted net income per
 share
   GAAP                                                            $   0.52
   Non-GAAP                                                        $   0.86

Shares used to compute
 diluted net income per
 share                                                               54,085

(1) The estimated non-GAAP effective tax rate was 35% for the twelve months
    ended December 31, 2012 and 2011, respectively, and has been used to
    adjust the provision for income taxes for non-GAAP purposes.



                            ADVENT SOFTWARE, INC.
 RECONCILIATION OF PROJECTED CONTINUING OPERATIONS' GAAP OPERATING INCOME %
                       TO NON-GAAP OPERATING INCOME %
                         (Preliminary and unaudited)

Advent provides projections of non-GAAP measures of its continuing
operations' operating income. These non-GAAP measures exclude certain costs,
expenses, gains and losses which it believes is appropriate to enhance an
overall understanding of our past financial performance and also our
prospects for the future. These adjustments to our projected continuing
operations' GAAP results are made with the intent of providing management
and investors a more complete understanding of Advent's underlying
operational results and trends and our marketplace performance. In addition,
these adjusted non-GAAP projections are among the information management
uses as a basis for planning and forecasting of future periods. The
presentation of this additional information is not meant to be considered in
isolation or as a substitute for results prepared in accordance with
generally accepted accounting principles in the United States of America.

                                           Twelve Months Ending December 31,
                                                          2013
                                                 Continuing Operations
                                                   Operating Income %
                                           ---------------------------------

Projected GAAP                                17.5%        to       18.0%
                                           =================================

    Projected amortization of acquired
     developed technology and other
     acquired intangible asset adjustment                 3.0%
    Projected stock-based compensation
     adjustment                                           6.0%
    Projected restructuring charge
     adjustment                                           0.5%

                                           ---------------------------------
Projected non-GAAP                            27.0%        to       27.5%
                                           =================================

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@ThingsExpo Stories
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Cultural, regulatory, environmental, political and economic (CREPE) conditions over the past decade are creating cross-industry solution spaces that require processes and technologies from both the Internet of Things (IoT), and Data Management and Analytics (DMA). These solution spaces are evolving into Sensor Analytics Ecosystems (SAE) that represent significant new opportunities for organizations of all types. Public Utilities throughout the world, providing electricity, natural gas and water, are pursuing SmartGrid initiatives that represent one of the more mature examples of SAE. We have s...
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, and physical persons. In the IoT vision, every new "thing" - sensor, actuator, data source, data con...
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happens, where data lives and where the interface lies. For instance, it's a mix of architectural styles ...
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example t...
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and assessments, including a decade of leading incident response and digital forensics. He is co-author of t...
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges. In his session at @ThingsExpo, Jeff Kaplan, Managing Director of THINKstrategies, will examine why IT must finally fulfill its role in support of its SBUs or face a new round of...
One of the biggest challenges when developing connected devices is identifying user value and delivering it through successful user experiences. In his session at Internet of @ThingsExpo, Mike Kuniavsky, Principal Scientist, Innovation Services at PARC, described an IoT-specific approach to user experience design that combines approaches from interaction design, industrial design and service design to create experiences that go beyond simple connected gadgets to create lasting, multi-device experiences grounded in people's real needs and desires.
Enthusiasm for the Internet of Things has reached an all-time high. In 2013 alone, venture capitalists spent more than $1 billion dollars investing in the IoT space. With "smart" appliances and devices, IoT covers wearable smart devices, cloud services to hardware companies. Nest, a Google company, detects temperatures inside homes and automatically adjusts it by tracking its user's habit. These technologies are quickly developing and with it come challenges such as bridging infrastructure gaps, abiding by privacy concerns and making the concept a reality. These challenges can't be addressed w...
The Domain Name Service (DNS) is one of the most important components in networking infrastructure, enabling users and services to access applications by translating URLs (names) into IP addresses (numbers). Because every icon and URL and all embedded content on a website requires a DNS lookup loading complex sites necessitates hundreds of DNS queries. In addition, as more internet-enabled ‘Things' get connected, people will rely on DNS to name and find their fridges, toasters and toilets. According to a recent IDG Research Services Survey this rate of traffic will only grow. What's driving t...
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective storage designed to handle the massive surge in back-end data in a world where timely analytics is e...
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using the URL as a basic building block, we open this up and get the same resilience that the web enjoys.
We are reaching the end of the beginning with WebRTC, and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will want to use their existing identities, but these will have credentials already that are (hopefully) i...
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect at Hookflash, will walk through the shifting landscape of traditional telephone and voice services ...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Architect for the Internet of Things and Intelligent Systems at Red Hat, described how to revolutioniz...
Bit6 today issued a challenge to the technology community implementing Web Real Time Communication (WebRTC). To leap beyond WebRTC’s significant limitations and fully leverage its underlying value to accelerate innovation, application developers need to consider the entire communications ecosystem.
The definition of IoT is not new, in fact it’s been around for over a decade. What has changed is the public's awareness that the technology we use on a daily basis has caught up on the vision of an always on, always connected world. If you look into the details of what comprises the IoT, you’ll see that it includes everything from cloud computing, Big Data analytics, “Things,” Web communication, applications, network, storage, etc. It is essentially including everything connected online from hardware to software, or as we like to say, it’s an Internet of many different things. The difference ...
Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world.