Tags: US | Earns | CA

CA's Profit Soars 55 Percent But Still Misses Estimates

Friday, 14 May 2010 02:24 PM

Business management software company CA Inc. said Thursday its fiscal fourth-quarter net income rose 55 percent but the results missed Wall Street's expectations.

The company issued guidance for the current fiscal year that was better than analysts had predicted, but CA's shares dropped 64 cents, or 2.9 percent, in after-hours trading after the report. Earlier, the stock had slipped 5 cents to close at $21.88.

For the three months ended March 31, CA said its net income jumped to $101 million, or 19 cents per share, from $65 million, or 13 cents per share, in the same period last year.

Excluding one-time items, CA's net income was 34 cents per share.

Analysts surveyed by Thomson Reuters were expecting higher net income of 36 cents per share.

Revenue increased 7 percent to $1.1 billion from $1.04 billion in the year-ago quarter, in line with what Wall Street was expecting.

Revenue from software subscription and maintenance, CA's largest division, rose 6 percent to $968 million.

For the full year, CA said net income grew 15 percent to $771 million, or $1.47 per share, from $671 million, or $1.29 per share in the prior year. Revenue inched up 2 percent to $4.4 billion from $4.3 billion.

For the current fiscal year, CA said it expects adjusted net income of $1.87 to $1.95 per share and revenue of $4.5 billion to $4.6 billion.

Analysts are forecasting net income of $1.84 per share on $4.4 billion in revenue.

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Business management software company CA Inc. said Thursday its fiscal fourth-quarter net income rose 55 percent but the results missed Wall Street's expectations.The company issued guidance for the current fiscal year that was better than analysts had predicted, but CA's...
US,Earns,CA
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2010-24-14
Friday, 14 May 2010 02:24 PM
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