Image source: SS&C Technologies. Shares of SS&C Technologies (NASDAQ: SSNC) are little-changed since the financial-services technology specialist announced second-quarter 2016 results on July 27. But that doesn't mean investors should be disappointed with the company's position today. Let's take a closer look at how SS&C capped the first half of the year: SS&C Technologies results: The raw numbers Q2 2016 Actuals Q2 2015 Actuals Growth (YOY) Adjusted revenue $384.4 million $213.1 million 80.4% Adjusted net income $79.4 million $58.7 million 35.3% Adjusted earnings per share (diluted) $0.39 $0.33 18.2% Data source: SS&C Technologies. What happened with SS&C this quarter? Based on generally accepted accounting principles (GAAP) -- which excludes $11.3 million in purchase accounting adjustments to deferred revenue from its acquisition of Advent last year -- revenue grew 75.3% year over year, to $373.1 million. GAAP net income declined 27.9% year over year, to $28.2 million, or $0.14 per share. Adjusted recurring subscription revenue grew 88% year over year, to $356.1 million. Adjusted non-recurring revenue increased 19.7%, to $28.3 million. Adjusted results again outpaced SS&C's guidance provided in May, which called for adjusted revenue of $378 million to $384 million, adjusted net income of $76 million to $78.5 million, and adjusted earnings per share of $0.37 to $0.38 (adjusted for a 2-for-1 stock split implemented during the quarter). Adjusted consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 65% year over year, to $147.5 million. Organic growth on a constant currency basis was negative 3.4%. Cash flow from operations for the first six months of the year grew 38.3% year over year, to $139.2 million, driven by higher cash earnings and lower tax payments. Debt of $125.5 million was paid down during the quarter, bringing debt paid down in the four quarters following the Advent acquisition to $415.3 million. The ratio of net debt to adjusted consolidated EBITDA leverage was reduced to 4.36. Research and development spending during the quarter contributed to new releases of CAMRA, Global Wealth Platform, SS&C Geneva, SS&C APX, SS&C Moxy, and SS&C TradeEx products. The quarter ended with $95.2 million in cash, and just over $2.665 billion in gross debt -- something for long-term investors to continue to watch. What management had to say SS&C Technologies CEO Bill Stone noted his company achieved new records in both adjusted revenue and adjusted consolidated EBITDA. Stone also touched on SS&C's $321 million acquisition of Citigroup's Alternative Investor Services, stating: After a full quarter of ownership, the Citi Alternative Investor Services group is adjusting nicely into SS&C's fast-paced, sales-oriented culture. Great strides have already been made in the integration, including a significant upgrade of the Geneva Platform, and a revitalized focus on top line growth. Looking ahead For the current quarter, SS&C expects adjusted revenue of $388 million to $394 million, adjusted net income of $82.5 million to $85 million, and adjusted net income per share of roughly $0.40 to $0.41. SS&C also revised its guidance for the full-year 2016, calling for adjusted revenue of $1.511 billion to $1.524 billion (narrowed from $1.505 billion to $1.535 billion previously), with adjusted net income of $326 million to $334 million (compared to $321 million to $337.5 million previously). Based on estimated share counts at year end, adjusted net income per diluted share for 2016 is expected to be in the range of roughly $1.59 to $1.63 (compared to roughly $1.56 to $1.64 previously, adjusted for the 2-for-1 split), up from $2.66 per share in 2015. SS&C also expects operating cash flow for the year to be in the range of $380 million to $395 million, up from its previous expected range of $375 million to $390 million. All told, with the exception of SS&C's slightly negative organic growth -- which, management later elaborated, should turn positive for the remainder of the year with the help of strong growth from Advent, a robust sales pipeline, and cross-selling from acquired businesses -- this was a slightly better-than-expected quarter, as the company continues to release innovative new products and improve its balance sheet. With shares still down around 8% year to date, as long as SS&C Technologies continues to move in the right direction, I think shareholders should be pleased with where it stands. 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