CA Technologies Beats Earnings

After the bell, CA Technologies ($CA) reported earnings of 78 cents per share, four cents better than Wall Street’s consensus. That’s up from 63 cents per share in the same quarter one year ago (the first quarter of their fiscal year).

“I am pleased with our performance in the first quarter and the start we made to fiscal year 2014,” said CA Technologies Chief Executive Officer Mike Gregoire. “We did better than expected on the revenue line and were able to capitalize on organizational efficiencies, expense management and a tax benefit to drive earnings growth. Our cash flow from operations was down, but that was expected and we are confident in meeting our full year outlook in all areas.

“We are beginning to make progress in driving efficiencies across our business, getting traction in SaaS, Mobility and new customer acquisition, as well as improving the overall competitiveness of our products,” Gregoire said.

For the full-year, CA expects earnings to range between $2.90 and $3.00 per share. Wall Street had been expecting $2.99 per share. The stock got as high as $30.30 per share today which is a new 52-week high.

Posted by on July 24th, 2013 at 4:41 pm


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