WINDSOR, CT - April 19, 2004 - SS&C Technologies, Inc. (Nasdaq: SSNC) today announced results for the quarter ended March 31, 2004. Q1 revenues were $19.2 million, an increase of 22% from the $15.7 million for Q1 2003. Net income and operating earnings for Q1 were $3.8 million, and $6.0 million respectively, increases of 62% and 69% from the $2.3 million and $3.6 million for the first quarter of last year. Diluted earnings per share for Q1 were $0.19, 58% higher
than the $0.12 diluted earnings per share for the same period in 2003.
Bill Stone, SS&C's President and CEO, said, "We are pleased with our first quarter performance. Revenue picked up nicely in the first quarter and was the highest quarterly revenue in 4 years. The 62% increase in net income over last year's Q1 primarily reflects the increased revenues and continued focus on expenses."
Stone continued, "This quarter we saw a 22% increase in our license revenues and a 23% increase in our recurring revenues over Q1 2003. Our recurring revenues include both maintenance and outsourcing revenues, and the growth of our outsourcing revenue, which increased 69% over Q1 2003 and 44% over Q4 2003, is particularly encouraging."
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