CA Is Beating 2nd Quarter Expectations In Spite Of The Currency Moves
25th October 2009
CA Inc., a software making company said this Thursday that the net income of its second quarter increased by 8 percent from the last year but the company has scaled back the forecast for a full year revenue growth and has its shares retreated in the trading after-market.
CA's 2nd quarter numbers have been beating Wall Street expectations even after a decline in the revenue which is caused by the currency movements. The Net income in three months till September 30 grew to an amount of $218 million, which is 41 cents per share, from the amount of $202 million, which is 39 cents per share, in the same quarter in the previous year.
After excluding the restructuring and some amortization charges, the company claimed to be earning an adjusted 42 cents for a share. The revenues of the company fell 3 percent down to $1.07 billion, from $1.11 billion one year ago, but are assumed to rise 1 percent if the currency levels will remain constant.
Analysts were looking to earn 40 cents per share on the revenue of amount $1.07 million as polled by Thomson Reuters. The company said it now expects revenue growth between 2 percent and 4 percent for fiscal 2010 from the previous year, rather than at the high end of that range as it previously predicted, if currency levels were constant.
The company said to generate revenue between $4.3 billion and $4.4 billion, and that the level has not changed from the guidance of the company that was previously issued.
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