Advent Software, Inc. Q3 2009 Earnings Call Transcript

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2009-10-27 18:24:09.0

Tags: Geneva, Call Transcript, Earnings, Brean Murray Co., APX, Outsourcing, Corporate Governance, Mergers & Acquisitions, Managed Hosting, It Operations, Business Operations, Outsourcing & Subcontracting, Corporate Law, Investment, Finance, Seeking Alpha, Advent Software

Question-and-Answer Session

Operator

(Operator instructions) And your first question comes from the line of Andrey Glukhov with Brean Murray.

Andrey Glukhov Brean Murray

Yes. Thanks for taking the question. Congrats on the strong bookings quarter. I guess, first of all, Stephanie, there is a very sharp rebound in the number of APX deals here on a sequential basis. Can you give us a little bit more color what’s really underlying it, is it the European improvement, is it some of the latest enhancements to the APX products, kind of what’s driving that?

Stephanie DiMarco

I am going to let Pete take that, because he’s closer to it.

Peter Hess

Andrey, I would say it’s pretty much across the board. We had a great quarter with on-site domestic, APX, both new clients and conversion, so there was a bit of a rebound in the migration. From Axys, couple of really nice big sized contracts, and then internationally, they had a good quarter more with new client acquisition with APX, and then also the outsourcing, we had a really good quarter in terms of typically the firms that are going to APX in the outsourced environment a little bit smaller to the higher volume of those. But we had a strong quarter there as well. So, it’s both on-site and hosted, both domestic and international was all pretty good.

Andrey Glukhov Brean Murray

Okay, and I mean, presumably so, it was a little bit weaker historically in terms of the renewal rate relative to the Geneva. I guess, what are you starting to see there?

Peter Hess

Can you repeat –?

Jim Cox

We are sorry about the background really.

Peter Hess

The Geneva units, Andrey?

Andrey Glukhov Brean Murray

The question was, the APX products had a little bit lower renewal rate historically relative to, let’s say, the Geneva product in the last few quarters. Are you starting to see that tick back up?

Peter Hess

Yes, I wouldn’t think that those products are behaving differently.

Stephanie DiMarco

And we don’t break them out. We don’t break them out. So, I don’t think that is the actual trend.

Peter Hess

That’s right.

Andrey Glukhov Brean Murray

Okay. I guess lastly, Geneva, there were 10 Geneva deals in the quarter. Stephanie, can you comment, and one of the trends we are seeing in the market is the emergence of mini primes, can you comment as to kind of – do you view it as an opportunity for you and maybe handicap the size of that opportunity?

 

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