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CA posts strong Q3, swaps sales leaders

CA Technologies continues to make progress and delivers an upside surprise for the fiscal third quarter.
Written by Larry Dignan, Contributor on

CA Technologies handily topped earnings expectations for its fiscal third quarter even as revenue slipped 3 percent from a year ago.

The company reported third quarter earnings of $232 million, or 51 cents a share, on revenue of $1.16 billion, down from $1.19 billion a year ago. Non-GAAP earnings for the third quarter was 84 cents a share.

Wall Street was expecting CA to report non-GAAP third quarter earnings of 70 cents a share on revenue of $1.13 billion.

Separately, CA said that George Fischer, head of CA's global sales, will retire. He will be replaced by Adam Elster, who currently runs CA's mainframe and customer success unit.

CA CEO Mike Gregoire reiterated points he made in a wide-ranging interview with ZDNet in December. Gregoire said that CA needs to "continue to improve our execution across development, marketing and sales."

As for the outlook, CA expects that its fiscal 2015 revenue growth rate and operating margin to be on par with the current fiscal 2014 year.

For fiscal 2014, CA is now projecting non-GAAP earnings of $3.05 a share to $3.12 a share on revenue of $4.52 billion to $4.57 billion.

CA ended the quarter with $2.98 billion in cash and equivalents along with $1.77 billion in total debt for a net cash position of $1.07 billion.

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