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Computer Associates


reported second-quarter earnings that beat analysts' lowered expectations for the period.

The Islandia, N.Y., business software company reported income of $138 million, or 54 cents a diluted share, excluding amortization, in the latest second quarter. According to a

First Call/Thomson Financial

survey, 11 analysts were expecting the company to earn 52 cents a share for the period.

The company earned $334 million, or 75 cents a share, in the year-ago period.

Net revenue for the second quarter rose to $1.55 billion from $1.47 billion, while total contract value came in at $1.68 billion, compared with $1.61 billion last year.

The company added that it will unveil a "new business model" Wednesday morning that "promises to deliver even greater long term sustainable value for shareholders, customers and CA employees."