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ADVS > SEC Filings for ADVS > Form 8-K on 30-Oct-2012All Recent SEC Filings

Show all filings for ADVENT SOFTWARE INC /DE/



Results of Operations and Financial Condition, Costs Associated with Exi

ITEM 2.02 Results of Operations and Financial Condition

On October 30, 2012, Advent Software, Inc. (the "Company") announced its results of operations for the third quarter ended September 30, 2012. A copy of the Company's press release announcing such results dated October 30, 2012 is attached hereto as Exhibit 99.1. This Current Report on Form 8-K and the attached exhibits are furnished to, but not filed with, the U.S. Securities and Exchange Commission ("SEC") and shall not be deemed to be incorporated by reference into any of the Company's filings with the SEC under the Securities Act of 1933, as amended, or the Exchange Act of 1934, as amended.

ITEM 2.05 Costs Associated with Exit or Disposal Activities

On October 24, 2012, the Company approved a re-organization plan to align strategy and function, reduce operating costs and improve profitability, which will result in a reduction in force of approximately 50 employees. The Company expects to incur between $2 million and $4 million in pre-tax restructuring charges, all of which would result in cash expenditures for one-time employee termination benefits. The Company expects to substantially complete the reduction in force by March 31, 2013 and expects to incur most of the pre-tax charges during the fourth quarter of 2012 with the remainder incurred in the first quarter of 2013.

ITEM 9.01 Financial Statements and Exhibits

(d) Exhibits

The following exhibits are furnished as part of this Current Report on Form 8-K.

Exhibit No.                    Exhibit Description
   99.1       Press release dated October 30, 2012.
   99.2       Earnings release presentation dated October 30, 2012.

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