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News > Technology
CA issues profit warning
July 4, 2000: 8:36 a.m. ET

Business software maker blames weak European sales, contract delays
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NEW YORK (CNNfn) - Software maker Computer Associates International Inc. warned that it won't meet profit expectations for its fiscal first quarter due to weak European sales and delays in closing contracts.

graphic"Revenue wasn't as strong in the quarter as we had hoped," Sanjay Kumar, the business software maker's president and chief operating officer, said in a Monday night press release. "We intend to work aggressively to address the performance issues in our European business."

CA is the latest in a line of technology companies -- including Informix Corp. (IFMX: Research, Estimates), Unisys Corp. (UIS: Research, Estimates) and Electronic Data Systems Corp.  (EDS: Research, Estimates) -- warning of worse-than-expected earnings in the quarter ended June 30.

The Islandia, N.Y.-based company said it expects revenue of $1.25 billion to $1.3 billion, apparently leading to income of less than the 55 cents a diluted share predicted by First Call, which polls analysts for their expectations of company earnings.

Revenue was $1.22 billion in the year-earlier period, which translated to income of 49 cents a share. The company earned $1.13 in the quarter ended March 30, the company's fiscal fourth quarter, which historically produces better earnings for the company than its first.

Computer Associates (CA: Research, Estimates) stock closed Monday at 51-1/8, down 1/16 in the shortened session. Back to top

  RELATED STORIES

Informix warns of 2Q shortfall - Jul. 3, 2000

Unisys warns on 2Q profit - Jun. 29, 2000

CA to acquire Sterling - Feb. 14, 2000

CA buying Platinum Tech - Mar. 29, 1999
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