Computer Associates loss widens

By siliconindia staff writer   |   Friday, 24 October 2003, 07:00 Hrs
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NEW YORK : Computer Associates International on Wednesday posted a wider quarterly net loss due to litigation settlement charges.

The business software company, which is facing investigations by securities regulators and federal prosecutors, said its third-quarter revenue would miss analysts' mean estimate, prompting the stock to fall to $23.89 from a close of $25.15 in after hours trading.

Results were hit by settlement charges totalling 19 cents a share. In August Computer Associates settled all outstanding litigation related to past accounting issues with its shareholders, resulting in a charge of 17 cents a share.

Operating profit was 14 cents a share, including 2 cents of litigation settlement charges, up from 4 cents a share last year.

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