ISLANDIA (dpa-AFX) - CA Technologies (CA) reported net income for the fourth quarter of $242 million or $0.53 per share, compared to $211 million or $0.45 per share for the year-ago quarter.
Excluding items, adjusted net income for the fourth quarter was $310 million or $0.68 per share, compared to $264 million or $0.56 per share in the prior year quarter.
Revenue for the fourth quarter fell 2% to $1.15 billion from $1.19 billion in the same quarter last year.
Analysts polled by Thomson Reuters expected the company to earn $0.55 per share on revenue of $1.14 billion for the fourth quarter. Analysts' estimates typically exclude special items.
Looking forward to fiscal year 2014, the company forecast revenue of $4.43 billion to $4.52 billion, earnings of $1.48 to $1.56 per share and adjusted earnings of $2.35 to $2.43 per share. Analysts currently expect the company to earn $2.42 per share on revenue of $4.63 billion for the fiscal year 2014.
The company also said that it would be taking a charge of about $150 million in fiscal year 2014 to rebalance its resources to better align with its business priorities. The company said the charge would cover the termination of about 1,200 employees worldwide and the consolidation of development sites into centralized development hubs. A majority of the personnel actions are expected to be completed by the end of the first quarter of fiscal year 2014.
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