CA Technologies Earns 86 Cents Per Share

Great earnings report from CA Technologies ($CA). For Q3, the company earned 86 cents per share which was 13 cents more than Wall Street’s estimate.

CA also raised its full-year growth forecast by a small bit. Previously, they saw non-GAAP diluted earnings rising by 16% to 20%. Now that range is 17% to 20%. That works out to an earnings-per-share range of $2.96 to $3.03. Wall Street had been expecting $2.97 per share.

“I am pleased with our overall second quarter results,” said Mike Gregoire, CA Technologies chief executive officer. “We over performed on both the top line and the bottom line, enabling us to increase our full year guidance for revenue and GAAP and non-GAAP earnings per share. This is clearly a beginning, but we still have work to do to get the aggregate portfolio growing.

“To drive growth at CA we are investing in our business. In the second half of the fiscal year we will increase our research and development spend and accelerate our investment in marketing, all within the expense guidance we outlined at the outset of the fiscal year,” Gregoire said. “This will enable us to continue to deliver disruptive new products like our recently announced Nimsoft Monitor Snap – a SaaS monitoring solution that provides an entirely new customer experience – and the next generation of mainframe products. Accelerating innovation, delivering differentiated products and focusing our marketing is the path to getting CA on a growth trajectory.”

The stock is up about 5% after hours.

Posted by on October 24th, 2013 at 4:19 pm


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