CA's Pro Rata Numbers Not Rating With Some Analysts

Software giant Computer Associates(CA Quote), already reeling from a Securities and Exchange Commission investigation and bond-rating downgrade, may now be facing a revolt by Wall Street analysts.

A growing number of analysts are rejecting the Islandia, N.Y., company's pro forma pro rata numbers, which Computer Associates began reporting after it changed its business model in October 2000. Instead, the analysts are telling clients to look at the more conservative pro forma financials reported according to generally accepted accounting principles.

And in response to that move on Wall Street, Thomson Financial/First Call also has started reporting average estimates based on those GAAP numbers, under the ticker symbol CA.MS. ...