CA to invest in more products following Fiscal Year 2009 results

John Swainson, CEO CA said the company 'executed well' in the face of a difficult economy with strong earnings growth and growth in cash flow.

"While we are assuming a continuing downturn into at least the early part of fiscal year 2010, we are making significant investments in new and improved products and sales resources and we again are forecasting growth in revenues and earnings on a constant currency basis," he said.  

Swainson said its concept of 'Lean IT' is all about helping customers make their IT infrastructures nimble, efficient and a competitive advantage with a rapid time to value.

"We can't predict when the recovery will begin, but we strongly believe technology will lead the way. Overall, I feel good about where we are and where we are heading," he added.

CA earned GAAP net income for its fourth quarter of US$72 million or US$0.13 per diluted common share, flat compared with net income of US$71 million or US$0.13 per diluted common share reported a year earlier.

For the full year, the company reported GAAP net income of US$694 million or US$1.29 per diluted common share, compared with net income of US$500 million or US$0.93 per diluted common share in the prior fiscal year, representing a 39 percent increase in earnings per share.

CA reported non-GAAP net income of US$169 million for the fourth quarter, or US$0.31 per diluted common share, compared with US$117 million, or US$0.22 per diluted common share reported a year earlier, representing a 41 percent increase in non-GAAP earnings per share.

For the full year, CA reported non-GAAP net income of US$835 million, or US$1.55 per diluted common share, compared with US$642 million, or US$1.19 per diluted common share, reported in the prior fiscal year, representing a 30 percent increase in non-GAAP earnings per share.

Total revenue for the fourth quarter was US$1.035 billion, down five percent as reported, but up two percent in constant currency, from the US$1.085 billion reported in the similar period last fiscal year.