SS&C Holdings Inc. posted a 9 percent rise in first-quarter net profits as sales also climbed for the Windsor back-office financial software/services vendor.
The parent of SS&C Technologies said Monday earnings rose to $9.8 million, or 12 cents a share, in the three months ended March 31 from $9 million, or 14 cents a share, the same quarter a year ago.
First-quarter revenues hit $89 million, up 14 percent from $78.2 million a year ago.
SS&C said it also experienced growth in recurring revenue from maintenance and software-service packages sold to customers.
Its so-called annual run rate revenue climbed to $77.2 million ($308.7 million annualized) in the first quarter, up 15 percent from a $67.2 million ($268.8 million) run rate in the first quarter of 2010.
Chairman and CEO Bill Stone said the annualized run rate “is a good indicator of visibility into future revenue.”
Also In the first quarter, SS&C bought BenefitsXML, a Glastonbury provider of software for employee benefit service providers. The deal added 19 workers to SS&C’s payroll.
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