By MATTHEW STURDEVANT, email@example.com
The Hartford Courant
5:02 PM EDT, May 1, 2013
Sales and earnings continue to improve for SS&C Technologies Holdings Inc., the company reported Wednesday.
SS&C, a financial-services software company based in Windsor, reported net income for the quarter of $21.4 million, or 26 cents per share, compared with $17.9 million, or 22 cents per share, during the same period last year.
Operating earnings for the quarter of $42 million compared with $22 million during the same period last year. Total revenues were up to $173.2 million for the quarter, compared with $93.7 million during the same period in 2012.
SS&C sells software and related services to financial services companies.
The company had stronger sales in all of its business lines. Revenue from software-enabled services was up to $135.7 million from $64.6 million during the same period in 2012. Revenue from maintenance of those systems was up to $26 million from $19.5 million a year ago.
"Our software-enabled services business continues to grow, up 110.2 percent over the same period in 2012," SS&C Chairman and CEO Bill Stone said in a prepared statement. "We see a lot of potential in fund administration and believe we are in an excellent position. We continue to win large mandates and we are seeing opportunity throughout hedge, private equity, managed accounts, pension and insurance markets."
The company expects adjusted revenue of $712 million to $722 million for the year and adjusted net income between $157 million and $160 million.
SS&C reported earnings after equity markets closed Wednesday.
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