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CA reports earnings, revenue growth in Q3

CA reports earnings, revenue growth in Q3

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Computer Associates International claimed strong third-quarter growth in both earnings and revenues, reporting a net loss of $US231 million on revenues of $749 million.

The massive US-based company said that according to generally accepted accounted principles for the quarter ending December 30, the $749 million it reported was up sequentially over the previous quarter's revenues of $734 million.

For the period, CA reported a net loss of $231 million, down from the $291 million it lost in the prior quarter. However, CA ascribed the loss to the fact that it now books revenue as it comes in on a quarterly basis over the life of a contract, instead of including it up front all at once. Using accounting methods it has now scrapped, CA would have reported revenues of $1.4 billion and net operating income of $417 million.

Under the new accounting methodology, CA said it closed contracts worth $554 million during the quarter, up from $466 million in contracts signed during the previous quarter.

Overall, CA said it now has $2.85 billion in revenue not yet recognised on its books.


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