The software vendor turned in sales of $833 million, up 7.9% on the year. This was better than the $822 million expected. Net loss was $87 million, compared to last year’s $52 million.
This resulted in a GAAP loss per share of $0.15. The figures were dragged down by the costs of settling litigation, which knocked off $0.19 per share. Excluding $0.17 of the litigation charges as well as acquisition related amortization, CA would have made $0.14 per share, in line with forecasts. The figures also included an income tax benefit of $44 million.
The better than expected revenues may have cheered investors shaken by the events of the last quarter. Apart from the litigation settlements, CA parted company with its CFO and two other senior executives following a report by the firm’s audit committee into historical accounting practices. The vendor is still apparently the subject of investigations by the SEC and the DoJ.
Any rosy glow brought on by yesterday’s figures would have been dispelled by CA’s forecast for the current quarter. The firm expects revenues of $825 million to $845 million, with operating earnings in the region of $0.14 to $0.16. Analysts were expecting $0.15 per share on revenues of $850 million.
For the year to date, CA’s sales stand at $1.6 billion, up 7.1%, with net loss standing at $78 million, compared to a $117 million loss this time last year.
This article was based on material originally published by ComputerWire.
