CA Technologies Q3: Ahead of estimates, but down from year ago

CA CEO says company needs to "do more to accelerate innovation, gain market share and better differentiate our solutions in the marketplace."

CA Technologies reported a better-than-expected third quarter, but acknowledged it has more work to do honing its business.

The software maker reported third quarter earnings of $1251 million, or 55 cents a share, on revenue of $1.19 billion, down 5 percent from a year ago. Non-GAAP earnings were 63 cents a share.

Wall Street was expecting CA to report fiscal third quarter earnings of 61 cents a share on revenue of $1.17 billion.

In a statement, CA CEO Mike Gregoire reiterated that the company will focus on Nimsoft, infrastructure management and service virtualization, but needs to "do more to accelerate innovation, gain market share and better differentiate our solutions in the marketplace."

Gregoire said CA will outline a plan to hit its strategic and financial goals. For fiscal 2013, CA reaffirmed its previous outlook. CA is projecting non GAAP earnings growth of 6 percent to 10 percent with revenue down 3 percent to 1 percent.

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