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January 22, 1997updated 05 Sep 2016 1:09pm

CA Q3 NUMBERS COME IN LOWER THAN PROFIT WARNING PREDICTED

By CBR Staff Writer

Computer Associates International Inc’s third quarter results released yesterday were even worse than the company had predicted in its none-too festive profits warning announced over the holiday season (CI No 3,069). The Islandia, New York systems management software company had expected $0.75 before charges, but managed only $0.72 per share on sales it had expected to much nearer the $1.1bn than the $1.05bn it reported. The net result after charges was a loss of $146.0m, including the $598.0m hit taken for the acquisition of Cheyenne Software Inc, on revenues that edged up 5% to the aforementioned $1.05bn. The statement accompanying the earnings report made scant mention of any problems, except the sluggish European sales it had warned of right at the end of last year. During the quarter CA had more than 100 wins for its Unicenter systems management product in North America, reported president and COO Sanjay Kumar. Net profits for the nine months to December 31 were $29.9m, or $0.08 per share, against losses the previous year of $321.5m, after a $1.30bn charge related to the purchase of Legent Corp. Three quarter revenues rose 18% to $2.94bn. At $46 yesterday, CA shares are still below the $48.50 they plummeted to after the profits warning came out of the blue on December 27.

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