Advent Software Reports $1 Million Loss After One-Time Charge

PRODUCTS AND VENDORS

Advent Software reported a $1 million loss for its fiscal year ended December 31 due to a $5.6 million one-time charge the company took in the first quarter because of the acquisition of Data Exchange.

Revenues for the year were up 42 per cent from $26 million to $37 million and net income--excluding the charge--leaped 61 per cent from $2.8 million to $4.5 million.

For the fourth quarter, the San Francisco-based investment management technology company earned $1.6 million on revenues of $10.6

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