Advent reports 'exceptional' growth in Q2

Advent Software, a provider of software and services to the investment management industry, has reported 'exceptional' growth in Q2 2007 compared with the same period last year.

Net revenues for the period total USD52.4 million compared with USD44.4million in 2006.

'We are extremely pleased with the results achieved in the second quarter of this year,' says Stephanie DiMarco, Founder and Chief Executive Officer. 'Comparing this quarter to the second quarter of 2006, the growth is exceptional: bookings are up 32% and revenues are up 18%. Operating profitability has improved significantly as we're starting to see the leverage of the term license model flowing into our income statement.

'These results demonstrate the great momentum we're seeing across our product suite as well as our focused commitment to execution, which we believe will continue to yield strong Company performance and improved financial results over the long term.'

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