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SS&C Announces First Quarter 2007 Results

email this aricle - SS&C Announces First Quarter 2007 Results - Windsor, CT - 7 May 2007 print this article - SS&C Announces First Quarter 2007 Results - Windsor, CT - 7 May 2007
SS&C Technologies, Inc., a global provider of financial services software and outsourcing solutions, today announced results for the quarter ended March 31, 2007. Reported revenues on a GAAP basis for first quarter of 2007 were $55.9 million. This represents a 16% increase in revenues over the same period in 2006 and a 4% increase over the last quarter. Included in reported revenues for the first quarter of 2006 was a $1.4 million reduction in revenue caused by purchase accounting adjustments to reflect November 23, 2005 deferred revenue at its fair value compared to no adjustment in the current quarter. Excluding this purchase accounting adjustment, adjusted revenues (a non-GAAP financial measure defined in note 3 to the attached Consolidated Condensed Financial Information) increased 12% in the first quarter of 2007 compared to the same period in 2006. Net loss, on a GAAP basis, for the first quarter of 2007 was $0.2 million.

Adjusted operating income (a non-GAAP financial measure defined in note 1 to the attached Consolidated Condensed Financial Information) for the first quarter of 2007 was $19.1 million, a 6% increase from the first quarter of 2006 of $18.0 million.

Consolidated EBITDA (a non-GAAP financial measure defined in note 2 of the attached Consolidated Condensed Financial Information) for the first quarter of 2007 was $21.4 million, or 38.2% of adjusted revenues, compared to $20.3 million for the first quarter of 2006.

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