Computer Associates International
reported Monday that its first-quarter results matched Wall Street expectations, following the tumultuous ride the software maker's stock has taken after a delay in its earnings had originally been interpreted by investors as bad news.
Computer Associates said that excluding one-time charges, its first-quarter earnings rose 20%, to $551 million, or $1.13 a diluted share, compared with $458 million, or 90 cents a diluted share, a year earlier. The results for the latest quarter matched a consensus earnings estimate from
First Call/Thomson Financial.
The news is seen as a positive for the software maker's stock, which had tumbled 16% on May 8 after the company said it would delay its first-quarter earnings report, but rebounded on Thursday when the company said its results would, in fact, meet Wall Street expectations.
In after-hours trading Monday following the announcement, shares of Computer Associates were trading up 2 1/2, or 5%, at 52. The stock had closed up 1 7/16, or 3%, at 50 15/16 at the end of the regular trading session.
The Islandia, N.Y.-based maker of software that works behind the scenes to make computers and networks function more efficiently said its earnings were fueled by strong demand for its Internet business programs.
First-quarter revenue jumped 31% to $2.13 billion from $1.63 billion a year earlier.
Computer Associates' latest earnings results excluded a $150 million charge related to the acquisition of
and a $15 million non-cash special charge.