CA Hits Targets, Delays 10-K

Updated from 5:16 p.m. EDT

CA(CA Quote) hit its reduced financial targets for the fourth quarter, but yet again announced that it is delaying the filing of its annual report, or 10-K, because of a batch of newly discovered accounting issues.

CA also issued fiscal-year earnings guidance well below Wall Street's expectations, and the company said a problem with the accounting of stock options could cost shareholders as much as $540 million.

"We are disappointed that we cannot file our 10-K to meet the extended deadline and that we continue to find problems associated with CA's past," said company CEO John Swainson. ...