CA narrows losses

NEWS Computer Associates (CA) has reported narrowed operating losses for its third quarter. The software giant posted losses of $231m during the period ending 31 December, or 40 cents per share, compared with a loss of $342m, or 59 cents, a year earlier. Sales fell 4.3 per cent to $749m from $783m. CA's overall revenue for the quarter fell from a year ago, but its product sales revenue increased 2.3 per cent, to $678m. CA said it has managed to narrow its losses by cutting operating costs. Last year CA unveiled its revamped business model, encouraging customers to purchase software through subscriptions. Shares in CA closed down three per cent at the close of trading, at $34.90.