CA Revenue Up in Q4, Down for Year
Computer Associates announces it broke even in earnings per share for its fourth fiscal quarter, but lost 46 cents a share for the year.Computer Associates International Inc. on Tuesday announced it broke even in earnings per share for its fourth fiscal quarter, but lost 46 cents a share for the whole year. The Islandia, N.Y., company lost $231 million on revenues of $772 for its fourth fiscal 2002 quarter, which ended March 31, reducing its loss from the $410 million it lost in the previous years quarter. The break-even earnings per share for the quarter was an improvement over the 29 cents a share loss in the same quarter in fiscal 2001. CAs revenue for the quarter represented a 6 percent increase over the $730 million in revenue it generated in the fourth fiscal 2001 quarter. Still, revenues for the year at $2.96 billion were down from fiscal 2001 revenues of $4.19 billion. "In a difficult environment we thought the company performed really well," said Sanjay Kumar, president and CEO of CA in CAs earnings call. "Our new business model, the short-term deals, the ability to match expectations with service came through."
Kumar characterized customer buying patterns as short term. "Customers are buying, but not in the volume they were before. Theyre not buying a lot of forward capacity, they are buying technology to satisfy immediate needs."