CA's Forecast Boosts Shares
SAN FRANCISCO -- CA (CA) missed fourth-quarter earnings expectations despite swinging to a profit, but issued full-year guidance that topped the Street's view.
The Islandia, N.Y. software and business services company posted revenue $1.09 billion, up 8% from $1.01 billion for the same quarter of 2007. The consensus estimate of analysts was $1.09 billion, according to Thomson Reuters.
Net income was $71 million, or 13 cents a share, vs. a loss of $20 million, or 4 cents a share, in the year-ago period.
Excluding special items, EPS was 22 cents. Analysts were looking for 28 cents.For the quarter ended in March, cash flow from operations was up 32% year over year to $690 million. And total deferred revenue grew 13% year over year to $3.7 billion. For fiscal 2009, the company projected revenue of $4.5 billion to $4.6 billion and EPS, less items, of $1.45 to $1.52. Analysts were expecting revenue of $4.42 billion and EPS, excluding items, of $1.32. Shares were up 64 cents, or 2.7%, to $24.81 in after-hours trading. In infrastructure-management software, the company competes with BMC (BMC) and IBM (IBM), among others.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV