CA names McCracken CEO; Earnings solid

CA named William McCracken, currently the company's executive chairman, CEO. The company also reported better than expected second quarter earnings.

CA on Thursday named William McCracken, currently the company's executive chairman, CEO.

McCracken had served as executive chairman since John Swainson retired in September. McCracken, 67, is now chairman and CEO. He jointed the CA board in 2005 and before that held numerous positions at IBM's printing and PC divisions.

McCracken's appoint comes as CA delivered better-than-expected fiscal third quarter results. The company delivered net income of $257 million, or 49 cents a share, on revenue of $1.13 billion, up 8 percent from a year ago. Non-GAAP earnings were 43 cents a share. Wall Street was expecting earnings of 42 cents a share on revenue of $1.1 billion.

The company reaffirmed its fiscal 2010. CA expects revenue to be between $4.3 billion to $4.4 billion. Earnings per share, under non-GAAP, are targeted at $1.60 to $1.71 a share. That outlook is in line with Wall Street estimates for earnings of $1.67 a share on revenue of $4.33 billion.