Advent Narrows Loss

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Advent Software reported a loss of $5.2 million for the third quarter ended September 30, down from $8.4 million a year earlier, as the company took a $3.4 million impairment charge.

The loss came as third-quarter revenue rose to $38.6 million, up 11.9 percent from $34.5 million in the year earlier period. The impairment charge stemmed from the company's decision to discontinue certain Techfi products. Advent purchased Techfi in 2002.

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