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CA hits 4Q forecasts

Computer Associates (NYSE: CA) met estimates in the fourth quarter.

After market close Monday, the business software vendor reported fiscal fourth quarter net income of $551 million, or $1.13 per share, not counting one-time charges. That was in line with First Call consensus, and on target with CA's preannouncement last week.

Including $150 million in acquisition-related expenses, a $15 million non-cash charge and other non-recurring events, CA earned $392 million, or 70 cents per share, in the quarter ended March 31.

Shares of CA rose 1 7/16 to 50 15/16 in Monday's regular trading, prior to the earnings announcement.

Fourth quarter revenue rose 31 percent year-over-year to $2.13 billion from $1.63 billion. Distributed systems saw revenue of $1.07 billion, up 34 percent from the year earlier period. Professional services revenue gained 24 percent to $115 million.

For the full fiscal 2000, CA earned $1.52 billion, or $3.28 per share, not including special charges and amortization. CA's total contract value for the year increased to $6.77 billion from $5.25 billion in fiscal 1999.

"We're excited about the results for the year and are optimistic about the future," said CA Chairman and CEO Charles B. Wang. "The Internet continues to drive growth at CA. The more our clients use the Internet, the more they rely on CA software and services to get the job done."

Competitors of CA include BMC Software (Nasdaq: BMCS) and Compuware (Nasdaq: CPWR).>