CA Technologies posts rise in revenue, net income
After CA Technologies posted a 1 percent increase in revenue for the second quarter, CEO Mike Gregoire said "product development and innovation engines are beginning to gain momentum." Credit: Bruce Gilbert
CA Technologies, formerly known as Computer Associates, Thursday posted a 1 percent increase in revenue to $1.02 billion for the second quarter, aided by growth in software fees paid by corporate clients.
Net income for the Manhattan software company, formerly based in Islandia, rose 22 percent to $212 million, or 50 cents per diluted share.
In a statement, CA CEO Mike Gregoire said “product development and innovation engines are beginning to gain momentum.”
The company said operating expenses declined amid personnel reductions related to two acquisitions.
Those savings were partly offset by a $45 million “agreement in principle” with the Department of Justice to settle a complaint alleging overcharges on a General Services Administration contract. The company said the agreement admits no wrongdoing and is subwrongdoinginal settlement agreement and court approval.
Ken Schachter covers corporate news, including technology and aerospace, and other business topics for Newsday. He has also worked at The Miami Herald and The Jerusalem Post.
Get ready for sun and fun with NewsdayTV's summer FunBook special! From celebrating America's 250th birthday to a new ride at Adventureland, NewsdayTV's Elisa DiStefano and Newsday lifestyle editor Meghan Giannotta have your inside look at Newsday's summer FunBook.
Get ready for sun and fun with NewsdayTV's summer FunBook special! From celebrating America's 250th birthday to a new ride at Adventureland, NewsdayTV's Elisa DiStefano and Newsday lifestyle editor Meghan Giannotta have your inside look at Newsday's summer FunBook.
