CA Tech. Q3 Profit Tops Estimates, Lifts FY Outlook; Stock Up 8%

(RTTNews) - Software company CA Technologies (CA) Tuesday reported a decline in third-quarter net income to $232 million or $0.51 per share from $251 million or $0.55 per share last year.

Excluding items, adjusted earnings for the quarter were higher at $379 million or $0.84 per share compared with $286 million or $0.63 per share a year ago.

On average, 11 analysts polled by Thomson Reuters estimated earnings of $0.71 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter were $1.16 billion compared with $1.2 billion in the prior year. Analysts had consensus revenue estimate of $1.13 billion for the quarter.

Expenses for the quarter were higher at $829 million compared with $825 million a year ago.

Looking ahead to fiscal 2014, the company raised its guidance and now expects net earnings of $2.01 to $2.08 per share, adjusted earnings of $3.05 to $3.12 per share and revenues of $4.52 billion to $4.57 billion.

It earlier expected net earnings of $1.92 to $1.98 per share, adjusted earnings of $2.96 to $3.03 per share, and revenue of $4.47 billion to $4.52 billion for 2014.

Analysts expect earnings of $3.02 per share on revenues of $4.50 billion.