Exhibit 99.1

Advent Software Reports Third Quarter 2011 Results

Company Achieves 17% Revenue Growth over Prior Year,

with Record Quarterly Revenue of $85 Million

SAN FRANCISCO — October 24, 2011 — Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services to the global investment management industry, announced today its financial results for the third quarter ended September 30, 2011.

“Our third quarter results include record revenue of almost $85 million and strong operating cash flow of just under $24 million, which demonstrate the continued strength of Advent’s business model,” says Stephanie DiMarco, Founder and Chief Executive Officer of Advent.  “Our financial results and healthy bookings continue to validate Advent’s strategy is working.  As we’ve seen throughout the past three years, our portfolio of products and services, combined with our focus on client satisfaction, enable us to succeed in various market conditions.”

THIRD QUARTER 2011 RESULTS

GAAP Results for Continuing Operations

The Company reported quarterly revenue from continuing operations of $84.6 million for the third quarter of 2011, up from $72.0 million in the third quarter of 2010, a 17% increase.

Operating income from continuing operations for the third quarter of 2011 was $10.6 million, or 13% of revenue, compared to $9.7 million or 14% of revenue for the third quarter of 2010.

Net income from continuing operations for the third quarter of 2011 was $6.8 million compared to $6.0 million in the third quarter of 2010, a 14% increase.

On a fully diluted basis, earnings per share from continuing operations in the third quarter of 2011 were $0.13 and represent a 15% increase from diluted earnings per share of $0.11 in the third quarter of 2010.

Operating cash flow from continuing operations in the third quarter of 2011 was $23.8 million, compared with $21.6 million in the third quarter of 2010, a 10% increase. Cash, cash equivalents and marketable securities totaled $58.9 million as of September 30, 2011.

The Company repurchased approximately 1,860,000 shares in the third quarter of 2011 at an average price of $22.26 per share.

Total deferred revenue as of September 30, 2011 was $162.3 million, compared to $159.3 million as of June 30, 2011, a 2% sequential increase.

Non-GAAP Results for Continuing Operations

Non-GAAP operating income from continuing operations for the third quarter of 2011 was $18.5 million, or 22% of revenue. This represents a 17% increase when compared to $15.7 million from continuing operations, or 22% of revenue, in the third quarter of 2010. On a fully diluted basis, non-GAAP earnings per share from continuing operations were $0.22 in the third quarter of 2011 and represent a 15% increase from non-GAAP diluted earnings per share of $0.19 in the third quarter of 2010.

The reconciliation between GAAP and non-GAAP financial measures is provided at the end of this press release.

THIRD QUARTER HIGHLIGHTS

·                  Third Quarter Bookings:  Annual Contract Value (ACV) in the third quarter of 2011 will contribute $8.5 million in annual revenue once the contracts are fully implemented.

·                  SaaS Solutions Gain Traction:  The third quarter saw strong demand for Advent’s leading solutions delivered as a service. Black Diamond’s cloud-based platform, which serves the US advisory market, continued to gain momentum, and Advent’s SaaS (software-as-a-service) offering for the asset management market, Advent OnDemand, added its first EMEA clients this quarter. Additionally, Advent has several strategic partnerships with firms that offer the Company’s products on a hosted basis to their clients, further expanding the reach of Advent’s hosted offerings.

·                  Enhanced Functionality Across Product Lines:  Advent announced significant new features across the product suite in the third quarter, including: enhanced automation and data integration with popular mobile applications for Tamale RMS®;  new Advent Portfolio Exchange® (APX) reports using Microsoft Reporting Services; and the addition of a detailed transaction data mining tool and a new report packaging tool in the Black Diamond platform.

·                  Buy-Side Technology Award: Geneva® was named ‘Best Buy-Side Portfolio Accounting Product’ by Buy-Side Technology magazine for the fifth consecutive year.

FINANCIAL GUIDANCE

Advent updates the following financial guidance for the fourth quarter and fiscal year 2011:

INVESTOR CALL

Advent Software, Inc. will host its Q3 2011 quarterly earnings conference call at 5:00 p.m. Eastern time today.  The Q3 2011 earnings presentation and trended disclosures file, which include highlights and detailed financial information, are currently available at http://investor.advent.com.  To participate via phone, please dial 866-804-6928 and request conference ID #94143757.  A replay will be available through midnight, October 31, 2011.  The replay number for domestic callers is 888-286-8010, and for international callers is 617-801-6888 and referencing conference ID #42168388.  The conference call will also be webcast live and then archived on http://investor.advent.com.

ABOUT ADVENT

Advent Software, Inc. (www.advent.com), a global firm, has provided trusted solutions to the world’s leading financial professionals since 1983.  Firms in more than 60 countries use Advent technology.  Advent’s quality software, data, services and tools enable financial professionals to improve service and communication to their clients, allowing them to grow their business while controlling costs.  Advent is the only financial services software company to be awarded the Service Capability and Performance certification for being a world-class support organization.  For more information on Advent products visit http://www.advent.com/about/resources/demos/pr.

ABOUT NON-GAAP FINANCIAL INFORMATION

This press release includes non-GAAP financial measures. For a description of these non-GAAP financial measures, including the reasons management uses each measure, and reconciliations of these non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with Generally Accepted Accounting Principles (GAAP), please see the accompanying tables entitled “Reconciliation of Selected GAAP Measures to Non-GAAP Measures.”

FORWARD-LOOKING STATEMENTS

The financial projections under Financial Guidance, and statements regarding our revenue growth, market opportunity,  market acceptance and demand for our products by clients in all market environments, including our SaaS solutions, international expansion and global execution,  anticipated benefits and synergies related to our acquisition of Black Diamond Performance Reporting LLC and the continued  momentum of our Tamale RMS product , and other forward-looking statements included in this presentation reflect management’s best judgment based on factors currently known and involve risks and uncertainties; our actual results may differ materially from those discussed here.  These risks and uncertainties include: potential fluctuations in new contract bookings, renewal rates, operating results and future growth rates; continued market acceptance of our Advent Portfolio Exchange®, Geneva® and Moxy® products; the successful development, release and market acceptance of new products and product enhancements; uncertainties and fluctuations in the financial markets; the Company’s ability to satisfy contractual performance requirements; difficulties in integrating merged businesses, such as Syncova Solutions Limited and Black Diamond Performance Reporting LLC, and achieving expected synergies and results; and other risks detailed from time to time in our SEC reports including, but not limited to, our quarterly reports on Form 10-Q and our 2010 annual report on Form 10-K.  The Company disclaims any intention or obligation to publicly update or revise any forward-looking statements including any guidance, whether as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Advent, the Advent logo, Advent Software, Advent Portfolio Exchange, Advent OnDemand, Geneva and Moxy are registered trademarks of Advent Software, Inc.  All other company names or marks mentioned herein are those of their respective owners.

CONTACT

Media Contact:
Smita Topolski
Advent Software, Inc.
(415) 645-1668
stopolsk@advent.com

Investor Relations Contact:
Heidi Flaherty
Advent Software, Inc.
(415) 645-1145
flaherty@advent.com

ADVENT SOFTWARE, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

(GAAP, Unaudited)

ADVENT SOFTWARE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

(GAAP, Unaudited)

ADVENT SOFTWARE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

ADVENT SOFTWARE, INC.

RECONCILIATION OF SELECTED CONTINUING OPERATIONS’ GAAP MEASURES TO NON-GAAP MEASURES

(In thousands, except per share data)

(Unaudited)

To supplement our condensed consolidated financial statements presented on a GAAP basis, Advent uses non-GAAP measures of continuing operations’ operating income, net income and net income per share, which are adjusted to exclude certain costs, expenses, gains and losses we believe appropriate to enhance an overall understanding of our past financial performance and also our prospects for the future. These adjustments to our current period GAAP results are made with the intent of providing both management and investors a more complete understanding of Advent’s underlying operational results and trends and our marketplace performance. In addition, these adjusted non-GAAP results are among the information management uses as a basis for our planning and forecasting of future periods. The presentation of this additional information is not meant to be considered in isolation or as a substitute for results prepared in accordance with generally accepted accounting principles in the United States of America.

(1)          The estimated non-GAAP effective tax rate was 35% for the three months ended September 30, 2011 and 2010, respectively, and has been used to adjust the provision for income taxes for non-GAAP purposes.

Advent Software, Inc.

Reconciliation of Projected Continuing Operations’ GAAP Operating Income %

to Non-GAAP Operating Income %

(Preliminary and unaudited)

Advent provides projections of non-GAAP measures of its continuing operations’ operating income, which exclude certain costs, expenses, gains and losses which it believes is appropriate to enhance an overall understanding of our past financial performance and also our prospects for the future. These adjustments to our projected continuing operations’ GAAP results are made with the intent of providing management and investors a more complete understanding continuing operations’ underlying operational results and trends and our marketplace performance. In addition, these adjusted non-GAAP projections are among the information management uses as a basis for planning and forecasting of future periods. The presentation of this additional information is not meant to be considered in isolation or as a substitute for results prepared in accordance with generally accepted accounting principles in the United States of America.