A Changing CA Reports Improved Revenue And Earnings
The new management team says net income was $50 million in the quarter, compared to $31 million a year ago.
CA reported improved revenue and earnings in its most recent quarter as it remains on a path of "continuing to change the DNA of the company," according to John Swainson, president and chief executive.
"Changes like this take time and despite the best planning are never as swift or as smooth as we'd like," Swainson said during a conference call Tuesday. "We've made incredible improvements the last three quarters."
After emerging from federal financial investigations with a new management team, the company has changed it name officially to CA and created a new logo and branding strategy that is "symbolic of what we are doing to rebuild our marketing capabilities and take the company forward … in a shift from point products to business solutions."
For the third fiscal quarter ended December 31, 2005, CA reported net income of $50 million, or 10 cents a share, on revenue of $967 million, as compared to net income of $31 million, or 5 cents a share, on revenue of $917 million in the same quarter a year ago.
For the nine months ended with the quarter, CA has reported net income of $194 million, or 33 cents a share, on revenue of $2.83 billion, as compared to a net loss of $20 million, or loss of 3 cents a share, on revenue of $2.64 billion in same period a year ago.
For its fiscal fourth quarter ended March 31, CA projects revenue between $975 million and $1 billion, and earnings per share of 9 to 10 cents.
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