February 15, 2019

SS&C's 4Q net slips, sales double

HBJ file photo
HBJ file photo
SS&C CEO and Chairman Bill Stone.

Windsor fintech provider SS&C Technologies Holdings Inc. posted lower fourth-quarter despite more than doubling revenues in the period.

For three months ended Dec. 31, SS&C said Friday it posted net GAAP earnings of $58.7 million, or 23 cents a diluted share, down from $165.4 million, or 77 cents a share, netted the same quarter a year earlier.

Fourth-quarter revenues rocketed 154 percent to $1.1 billion in 2018 vs. $438.4 million in 2017.

For all of 2018, SS&C netted GAAP earnings of $103.2 million, or 42 cents a diluted share, down from $328.9 million, or $1.55 a share, netted in 2017.

Twelve-month revenue totaled $3.4 billion vs. $1.7 billion the previous year.

SS&C's earnings report showed a spike in SS&C's interest expenses for the quarter and full year, tied to its spate of recent acquisitions, that ate into the company's bottom line.

CEO Bill Stone said SS&C spent $8 billion to acquire DST Systems, Eze Software, and Intralinks in 2018, contributing to both top line growth and margin improvement.

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