SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q/A
[X] Quarterly report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 for the quarterly period ended March 31, 2000
or
[ ] Transition report pursuant to Section 13 or 15(d)of the Securities Exchange
Act of 1934
Commission file number: 0-26994
ADVENT SOFTWARE, INC.
(Exact name of Registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation or organization)
94-2901952
(IRS Employer Identification Number)
301 Brannan Street, San Francisco, California 94107
(Address of principal executive offices and zip code)
(415) 543-7696
(Registrant's telephone number, including area code)
Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.
Yes [X] No [ ]
The number of shares of the Registrant's Common Stock outstanding as of
April 30, 2000 was 29,755,187.
<PAGE>
AMENDMENT
This amendment revises Part I - Item 1 "Condensed Consolidated Statements of
Cash Flows" to reflect the ten thousand dollar loss on disposal of asset as an
adjustment of net income to net cash provided by operating activities, which was
erroneously excluded during transmission to Edgar. No other changes were made to
our Form 10-Q for the three months ended March 31, 2000 previously filed on May
15, 2000.
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<PAGE>
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements
<TABLE>
<CAPTION>
ADVENT SOFTWARE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
Three Months Ended March 31,
----------------------------
2000 1999
- -----------------------------------------------------------------------------------------
(in thousands) (unaudited)
<S> <C> <C>
Cash flows from operating activities:
Net income $ 3,916 $ 1,954
Adjustments to reconcile net income to net cash
provided by (used in) operating activities:
Loss on disposal of asset 10 -
Depreciation and amortization 1,388 1,037
Provision for doubtful accounts 689 297
Deferred rent 92 57
Cash provided by (used in) operating assets and
liabilities:
Accounts receivable (1,788) (87)
Prepaid and other current assets 146 (155)
Accounts payable (119) (342)
Accrued liabilities 1,099 (876)
Deferred revenues 739 429
Income taxes payable (1,289) (861)
----------- -----------
Net cash provided by operating activities 4,883 1,453
----------- -----------
Cash flows from investing activities:
Acquisition of fixed assets (3,921) (1,450)
Deposits and other 145 (175)
----------- -----------
Net cash used in investing activities (3,776) (1,625)
----------- -----------
Cash flows from financing activities:
Proceeds from issuance of common stock 3,134 1,552
----------- -----------
Net cash provided by financing activities 3,134 1,552
----------- -----------
Effect of exchange rate changes on cash and
short-term marketable securities (8) 3
----------- -----------
Net increase in cash and short-term marketable securities 4,233 1,383
Cash and short-term marketable securities at beginning
of period 119,126 43,284
----------- -----------
Cash and short-term marketable securities at end of period $ 123,359 $ 44,667
=========== ===========
Supplemental disclosure of cash flow information:
Cash paid for income taxes $ 3,247 $ 1,861
- --------------------------------------------------------------------------------
The accompanying notes are an integral part of these condensed consolidated
financial statements.
</TABLE>
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<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
ADVENT SOFTWARE, INC.
Dated: May 23, 2000 By: /s/ IRV H. LICHTENWALD
----------------------------------
Irv H. Lichtenwald
Senior Vice President of Finance,
Chief Financial Officer
and Secretary
(Principal Financial Officer)
Dated: May 23, 2000 By: /s/ PATRICIA VOLL
----------------------------------
Patricia Voll
Vice President of Finance
(Principal Accounting Officer)
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