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.
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