SS&C Technologies Reports Q3 2016 Results

Highlights:

• SS&C adjusted revenue for Q3 2016 was $391.9 million, our 18^th straight quarter with record adjusted revenue.
• SS&C paid off $113.2 million in debt in Q3 2016, and $528.6 million since acquiring Advent over one year ago.
• Our net debt to consolidated EBITDA leverage ratio has been reduced to 4.08x.

"SS&C is pleased to report record adjusted revenues of $391.9 million for Q3 2016, and adjusted diluted earnings per share of $0.42 cents," says Bill Stone, Chairman and Chief Executive Officer. "Our business has grown sharply over the past year and our last twelve months' consolidated EBTIDA is over $600 million. We have integrated the people and products from Advent, Varden, Primatics and Citi Alternative Investor Services. At SS&C, we change. Our research and development spend, acquisitions and onboarding talent encourages creativity and critical thinking. This enables us to service our clients' demands in a complex and evolving regulatory environment."

Annual Run Rate Basis

Annual Run Rate Basis (ARRB) recurring revenue, defined as adjusted recurring revenue on an annualized basis, was $1,441.3 million based on adjusted recurring revenue $360.3 million for the third quarter of 2016. This represents an increase of 25.1 percent from $288.0 million and $1,152.2 million run-rate in the same period in 2015 and an increase of 1.2 percent from $356.1 million for the second quarter of 2016, an annual run rate of $1,424.3 million. We believe ARRB of our recurring revenue is a good indicator of visibility into future revenue.

Operating Cash Flow

SS&C generated net cash from operating activities of $237.0 million for the nine months ended September 30, 2016, compared to $120.6 million for the same period in 2015, representing a 96.6 percent increase. SS&C ended the quarter with $101.8 million in cash and cash equivalents, and $2,551.5 million in gross debt, for a net debt balance of $2,449.7 million. SS&C's leverage ratio as defined in our credit agreement stood at 4.08 times consolidated EBITDA as of September 30, 2016.

Guidance

Non-GAAP Financial Measures

Adjusted revenue, adjusted operating income, adjusted consolidated EBITDA, adjusted net income and adjusted diluted earnings per share are non-GAAP measures. See the accompanying notes to the attached Condensed Consolidated Financial Information for the reconciliations and definitions for each of these non-GAAP measures and the reasons our management believes these measures provide useful information to investors regarding our financial condition and results of operations.

Earnings Call and Press Release

SS&C's Q3 2016 earnings call will take place at 5:00 p.m. eastern time today, October 27, 2016. The call will discuss Q3 2016 results and our guidance and business outlook. Interested parties may dial 877-312-8798 (US and Canada) or 253-237-1193 (International), and request the "SS&C Technologies Third Quarter 2016 Conference Call"; conference ID#93683809. A replay will be available after 8:00 p.m. eastern time on October 27, 2016, until midnight on November 3, 2016. The dial-in number is 855-859-2056 (US and Canada) or 404-537-3406 (International); access code #93683809. The call will also be available for replay on SS&C's website after October 27, 2016; access: http://investor.ssctech.com/results.cfm.

Certain information contained in this press release relating to, among other things, our financial guidance for the fourth quarter and full year of 2016 constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Without limiting the foregoing, the words "believes", "anticipates", "plans", "expects", "estimates", "projects", "forecasts", "may" and "should" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements are accompanied by such words. Such statements reflect management's best judgment based on factors currently known but are subject to risks and uncertainties, which could cause actual results to differ materially from those anticipated. Such risks and uncertainties include, but are not limited to, the state of the economy and the financial services industry, the Company's ability to finalize large client contracts, fluctuations in customer demand for the Company's products and services, intensity of competition from application vendors, delays in product development, the Company's ability to control expenses, terrorist activities, exposure to litigation, the Company's ability to integrate acquired businesses, the effect of the acquisitions on customer demand for the Company's products and services, the market price of the Company's stock prevailing from time to time, the Company's cash flow from operations, general economic conditions, and those risks discussed in the "Risk Factors" section of the Company's most recent Annual Report on Form 10-K, which is on file with the Securities and Exchange Commission and can also be accessed on our website. The Company cautions investors that it may not update any or all of the foregoing forward-looking statements.

About SS&C Technologies

SS&C is a global provider of investment and financial software-enabled services and software focused exclusively on the global financial services industry. Founded in 1986, SS&C has its headquarters in Windsor, Connecticut and offices around the world. Some 10,000 financial services organizations, from the world's largest institutions to local firms, manage and account for their investments using SS&C's products and services. These clients in the aggregate manage over $44 trillion in assets.

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SS&C Technologies Holdings, Inc. and Subsidiaries
Condensed Consolidated Statements of Operation
(in thousands, except per share data)
(unaudited)
		Three Months Ended September 30,								Nine Months Ended September 30,
		2016				2015				2016				2015
Revenues:
Software-enabled services		$	248,772			$	180,744			$	699,091			$	484,434
Maintenance and term licenses			106,925				80,097				305,437				159,049
Total recurring revenues			355,697				260,841				1,004,528				643,483
Perpetual licenses			4,389				6,508				14,643				22,526
Professional services			23,218				13,545				61,341				33,388
Total non-recurring revenues			27,607				20,053				75,984				55,914
Total revenues			383,304				280,894				1,080,512				699,397
Cost of revenues:
Software-enabled services			143,074 Werbung Mehr Nachrichten zur SS+C Technologies Holdings Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 09:08 - PR Newswire Cohen & Steers Capital Management - Form 8.3 - Tritax Big Box REIT plc 08:00 - PR Newswire Moonpig Group Plc - Directorate Change 03:00 - PR Newswire AECI Limited - Acceptance of awards of performance shares: Long-term Incentive Plan (LTIP) Sehen Sie sich dieses Unternehmen an:    Foto: andreas160578 - Pixabay Rasanter Aufstieg, Branchenrevolution und Jahresumsatz von 50 Mio. $ weiterlesen» Anzeige wo-site-teaser-box-16764_site-teaser-box_2024-04-26_09%253A00%253A00_2024-04-27_09%253A00%253A59