By Will Sturgeon, 24 July 2003 09:13
NEWS Computer Associates joined in one of the most up-beat results seasons in a couple of years with news that it has beaten all expectations for the first quarter of 2004. The gloom presiding over the tech sector may be a way from lifting entirely but a raft of positive results announcements from the likes of Amazon, EDS and Virgin Mobile were joined by CA reporting revenue of $813m for Q1 - beating the upper range of expectations - compared to revenue of $765m for the comparable quarter last year. The company also reported a profit of $10m, or $0.14 per share, up from a loss of $65m, or $0.11 per share, for the same quarter last year. CA chairman and CEO Sanjay Kumar said in a statement: "We are obviously pleased that we achieved profitability on a GAAP basis sooner than expected. This was made possible by a steady increase in revenue and continued efficiencies in our business. There was strength across most of our product offerings - especially our enterprise management software."
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