CA Posts Upbeat Q4 Earnings, But Issues Weak Forecast
CA, Inc. (NASDAQ: CA) reported better-than-expected earnings for the fiscal fourth quarter on Thursday. However, the company issued a weak forecast for the full year.
For the fiscal year, CA expected earnings of $2.38 to $2.45 per share on revenue of $3.95 billion to $3.99 billion. Analysts had projected earnings of $2.48 per share on revenue of $4.18 billion.
The New York-based company reported a quarterly profit of $151 million, or $0.34 per share, versus a year-ago profit of $107 million, or $0.24 per share. Excluding items, the company's earnings from continuing operations slipped to $0.56 per share from $0.62 per share.
Its revenue fell 5.6 percent to $1.02 billion. However, analysts were projecting a profit of $0.50 per share on revenue of $1.04 billion.
Excluding currency impacts, CA's bookings shrank 5 percent, while backlog fell 8 percent.
Mike Gregoire, CA Technologies Chief Executive Officer, said, "In fiscal year 2015, we focused our efforts on our go-to-market strategy, introduced new products and strengthened relationships with our customers. As demonstrated by this quarter's results, however, we still have work to do to drive the kind of growth that our company has the potential to achieve."
CA shares slipped 2.71 percent to $30.55 in the after-hours trading session.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.