Advent Software shoots past 2Q forecasts

Advent Software Inc. (Nasdaq: ADVS) had no trouble topping analysts' estimates in its second quarter Tuesday, earning $3.5 million, or 37 cents a share, on sales of $24.2 million. Its shares were off 3 33/4 to 73.

First Call consensus pegged Advent for a profit of 35 cents a share in the quarter.

The $24.2 million in sales represents a 45 percent improvement versus the year-ago period when it lost $2.3 million, or 27 cents a share, on sales of $16.7 million.

"Advent had a very strong second quarter, both in terms of financial performance and in our continued efforts to grow our presence in the investment industry," said CEO Stephanie DiMarco in a prepared release.

The stock surged to a 52-week high of 77 3/4 Monday after trading at a low of 19 13/16 in October.

All four analysts following the stock maintain either a "buy" or "strong buy" recommendation.

First Call consensus expects it to earn $1.57 a share in the fiscal year.>