CA Technologies Q1 Profit Rises

(RTTNews) - CA Technologies (CA) Wednesday reported first-quarter net income of $335 million or $0.73 per share, up from $240 million or $0.51 per share last year.

Adjusted net income for the quarter was $357 million or $0.78 per share, up from $298 million or $0.63 per share last year. Analysts polled by Thomson Reuters expected the company to earn $0.74 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter dropped 1 percent to $1.13 billion from $1.15 billion last year. Analysts estimated revenues of $1.10 billion for the quarter.

Looking forward to the fiscal year 2014, the company now expects earnings of $1.81 to $1.91 per share, adjusted earnings of $2.90 to $3.00 per share and revenues of $4.39 billion to $4.48 billion.

Analysts currently estimate earnings of $2.99 per share on revenues of $4.47 billion for the year.