Computer Associates Beats Third-Quarter Estimates - TheStreet

Computer Associates

(CA) - Get Report

beat third-quarter expectations, reporting pro forma earnings of $417 million, or 71 cents a share, up from $247 million, or 42 cents a share, in the year-ago period. Analysts had been expecting 60 cents, according to Thomson Financial/First Call.

Under GAAP rules, the software maker lost $231 million, or 40 cents a share, compared with $342 million, or 59 cents a share, in the year-ago quarter.

Revenue for the quarter dropped to $749 million from $783 million a year ago.

The company also predicted fourth-quarter operating profits of 72 cents on revenue of $1.470 billion, and it expects to turn a GAAP-based profit sometime in fiscal 2003.

Shares of Computer Associates closed at $34.90 Tuesday on the

New York Stock Exchange

.