SAN FRANCISCO (05/11/2000) - Computer Associates International Inc. (CA) today attempted to put the financial markets' concerns at rest by announcing that its delayed fourth-quarter financial results should meet analysts' expectations.
The results were originally due to appear today.
CA intends to report its fourth-quarter and fiscal year-end results in full for the period ended March 31, 2000, after the markets close Monday (May 15), the company said in a statement issued today. The software vendor plans to Webcast a meeting with analysts to discuss the results Monday at 4:30 p.m. EDT.
According to 21 analysts polled by First Call/Thomson Financial, CA is expected to announce earnings per share of $1.13 for the fourth quarter, up from 90 cents in the year-ago quarter. For the fiscal year as a whole, the analysts predict that the software vendor will report earnings per share of $3.28, up from $2.59 for the previous financial year.
On Monday, May 8, CA announced that its fourth-quarter and year-end results would be delayed until Thursday, May 18, leading to a $6.25 fall in the vendor's stock to end the day at $46.8. [See "No Worries about CA Earnings Announcement Delay," May 9.] However, CA today readjusted the earnings release date again, bringing it forward to May 15. The new date is due to requests from investors and analysts, the company said in today's statement.
Following today's announcement made in the middle of the afternoon, CA's shares on the Nasdaq exchange ended the trading day at $51.5, an increase of 15.7 percent on yesterday's close.
CA, in Islandia, New York, can be reached at +1-631-342-6600 or via the Internet http://www.cai.com/.