CA Technologies (CA) Thursday said its profit for the fourth quarter increased, due mainly to higher revenues.
The Islandia, New York-based company reported a fourth-quarter net profit of $211 million or $0.45 per share, compared to $188 million or $0.37 per share last year.
For the quarter, income from continuing operations was $211 million or $0.45 per share, compared to $187 million or $0.37 per share last year.
Adjusted net income from continuing operations rose to $264 million or $0.56 per share from $247 million or $0.48 per share in the prior-year quarter. On average, 13 analysts polled by Thomson Reuters expected the company to earn $0.52 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew 5 percent to $1.19 billion from $1.13 billion in the similar quarter last year. Twelve analysts had a consensus revenue estimate of $1.19 billion for the quarter.
Looking ahead, the company expects full-year 2013 earnings in the range of $2.07 to $2.14 per share and adjusted earnings to range between $2.45 to $2.53 per share. Revenues for the year are anticipated in the range of $4.85 billion to $4.95 billion. Analysts currently expect the company to earn $2.50 per share for the year, with revenues of $5.01 billion.
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