Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Advent Shortfall Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, July 9, 2002

Advent Shortfall

by: Lisa Pearly

Advent Software will miss its revenue targets by 19 percent. Irv H. Lichtenwald, chief financial officer, explained that license revenue should tally to around $12 million of Advent's $38 to $39 million for the quarter.

A year ago Advent's revenue was $48 million. The decline in license revenue came after "several very large deals, which were expected to close the last week of June, were being delayed," explained Licthenwald.

Peter Caswell, president and chief executive officer, said that "The unexpected delay in the closing of our TechFi acquisition has added additional stress on the organization and management distraction during the critical final two weeks of the quarter. Although we are confident in the demand for Advent's products and services, we ran out of runway to negotiate and close everything forecasted by quarter end."

Advent is one of the leading providers of portfolio management software to financial advisors. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use