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CA gives strong full-year forecast, shares rise
Business software maker CA Inc (CA.O: Quote, Profile, Research) gave full-year forecasts that topped analysts' estimates, citing momentum from growth in big contracts and its focus on cost cuts, lifting its stock by more than 4 percent.

After posting a quarterly profit on Thursday that fell short of Wall Street expectations, CA said it expected to earn a fiscal 2009 profit excluding special items of $1.45 to $1.52 per share on revenue of $4.5 billion to $4.6 billion.

That tops the $1.37 per share and $4.45 billion that were the average forecasts of Wall Street analysts on Reuters Estimates.

CA shares rose 4.6 percent to $25.29 in extended trading, building on its 1.9 percent gain in regular Nasdaq trade.

For its fourth quarter ended in March, CA posted a higher profit, citing double-digit bookings growth as it focused on selling new software licenses while controlling costs and improving its operating margin.

CA said expenses for the quarter fell 8 percent from a year earlier. For the full year, it landed 61 contracts worth more than $10 million, up 45 percent from the previous year.

CA said it expected product and services bookings growth in the mid- to high-single digits. Chief Executive John Swainson said it had "good momentum" entering the new fiscal year and "will continue to focus in this current economic environment on doing the things that drive revenue and increase profit."
http://www.reuters.com/article/marketsNews/idUSN2252940320080522