Today's Early Winners and Losers

Shares of Ansoft(ANST Quote) rose in after-hours trading Tuesday after the Pittsburgh-based software company beat Wall Street's fourth-quarter earnings expectations. The company posted income of $8.3 million, or 32 cents a share, up from $4.7 million, or 18 cents a share, a year ago. The most recent results included a tax benefit of $1 million, or 4 cents a share, associated with the reversal of a valuation allowance. Analysts polled by Thomson First Call expected earnings of 23 cents a share. Revenue for the quarter ended April 30 rose 14% to $24.7 million, in line with Wall Street's forecast. For the coming fiscal year, Ansoft projected revenue growth of 10% to 15%. Shares gained 48 cents, or 2.6%, to $19.01 in late trading.

VA Software(LNUX Quote) climbed after the company said it swung to profit for its third quarter. For the quarter ended April 30, the company reported income of $1 million, or 2 cents a share, reversing a year-earlier loss of $1.7 million, or 2 cents a share. Revenue grew 55% to $10.8 million. "We are proud to announce another profitable quarter, a direct result of solid execution across all three of our continuing businesses," said Ali Jenab, president and CEO, in a statement.

Separately, VA Software said Kathleen McElwee, senior vice president and chief financial officer, will resign effective June 9 to pursue an opportunity with a private, late-stage company in the health market. Jeffrey Chalmers, currently serving as controller, will serve as interim chief financial officer while the company searches for McElwee's permanent replacement. The company's shares climbed 21 cents, or 4.6%, to $4.75 in after-hours trading.

Computer Sciences(CSC Quote) shares fell after the IT services company beat Wall Street's fourth-quarter expectations, but gave light guidance for the current quarter. The company's earnings for the March quarter fell to $199.4 million, or $1.05 a share, from $411.8 million, or $2.13 a share, a year ago. The year-ago numbers included $245.2 million in income from discontinued operations. Excluding certain items, the company earned $218.9 million, or $1.16 a share, up from $185 million, or 96 cents a share, a year earlier. Revenue was roughly flat at $3.88 billion. Analysts projected earnings of $1.13 a share, before items, and $3.86 billion in revenue.