CA Reports Strong Quarter, Weak Guidance
ISLANDIA, N.Y. (TheStreet) -- CA Technologies(CA) reported fourth-quarter earnings that were better than Wall Street estimates, but 2013 guidance was weaker than expected.
The Long Island, N.Y.-based information technology giant reported earnings of 56 cents a share on $1.188 billion in revenue. Wall Street analysts polled by Yahoo! Finance were looking for earnings of 52 cents a share on $1.19 billion in revenue according to Yahoo! Finance.
Despite the earnings beat, CA said it expects to earn $2.45 to $2.53 a share on revenue between $4.85 billion and $4.95 billion. Wall Street analysts are looking for earnings of $2.50 a share on $5.01 billion in revenue.
"We finished fiscal 2012 by delivering a solid fourth quarter," said CA Technologies CEO Bill McCracken, in a press release. "Fiscal 2012 was a year that further demonstrated CA Technologies' progress against its strategic goals and our commitment to consistently delivering innovative solutions and services to our customers, revenue and earnings growth and attractive, sustainable returns to our shareholders."
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--Written by Chris Ciaccia in New York
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