Despite Management Shakeups, CA Says Results Will Be Close To ProjectionsDespite Management Shakeups, CA Says Results Will Be Close To Projections

Computer Associates said Thursday it expects its fourth-quarter and fiscal year-end results will be close to what it had earlier projected, despite the whirlwind of management changes in the past month.

The company issued preliminary results and said it would report the final results a week or two later than the originally scheduled reporting date of May 12.

For the quarter ended March 31, CA says it will report revenue of about $850 million, compared with previous guidance of between $845 million and $865 million. Revenue for the full year is expected to be around $3.28 billion, compared with previous guidance of between $3.29 billion and $3.31 billion.

CA expects earnings per share from continuing operations to be between 6 cents and 7 cents for the quarter, with a loss of 4 cents to 6 cents per share for the full year.

"These preliminary results reflect the solid performance CA enjoyed in the fourth quarter," new chief operating officer Jeff Clarke said in a statement. Clarke was named to his new position last week, and continues as interim chief financial officer.

In addition, the board named Kenneth Cron as interim CEO, replacing Sanjay Kumar, who was been reassigned to the position of chief software architect. Board member Lewis Ranieri was named chairman.

The changes come as a result of a Securities & Exchange Commission and Department of Justice investigation into financial reporting irregularities in 2000 and 2001.

Clarke said fourth-quarter bookings increased more than 30% compared with the same period a year ago. He also said the rescheduling of the fourth-quarter and year-end results was a result of manpower reallocation due to the recent restatement of results for the 2000 and 2001 fiscal years.