CA Inc. 4Q loss narrows |
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Wed, 23 May 2007 21:52
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ISLANDIA, N.Y. (AP) - CA Inc., one of the world's largest management software developers, said Wednesday higher revenue in its fiscal fourth quarter helped the company narrow its loss.For the quarter ended March 31, CA posted a loss of $20 million, or 4 cents per share, compared with a year-earlier loss of $41 million, or 7 cents per share.The latest quarter includes $100 million in restructuring charges, or about five times the year-ago amount of $22 million. $71 million of the amount booked is related to severance costs, and $8 million is related to the closure of facilities.Earnings from continuing operations and excluding certain charges amounted to 20 cents per share in the latest quarter, up 54 percent from 13 cents in the year-ago quarter.Revenue rose 7 percent to $1 billion from $942 million, the company said. On a constant-currency basis, revenue grew 4 percent. CA credited the increase to growth in subscription revenue and professional services, which was partially offset by lower software fees and other revenue and maintenance and financing fee revenue as CA continues to transition from its prior business model.On average, analysts surveyed by Thomson Financial forecast a quarterly profit of 20 cents per share on revenue of $1 billion.In after-hours trading, CA shares shed 29 cents to $27.55.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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