Computer Associates' first- quarter revenues and profits rose more than 30%, company officials have announced. The company posted record revenues of US$792 million for the quarter that ended on June 30, a 37% increase over the same quarter last year. Net income was US$119.8 million, a 35% increase over the same quarter last year, officials say.
"We're bucking the trend in the face of what people consider a soft technology market, which I don't think is as soft as people think it is," says Sanjay Kumar, chief operating officer at CA.
Technology stockholders have had some reason to worry recently. Last week, Hewlett-Packard announced that its earnings will be lower than expected, and earlier this week Texas Instruments announced a 12% drop in revenues. But Intel's revenues, posted yesterday, were stronger than expected, and CA has been strong across all of its product lines, especially its Unicenter system management software, Kumar says.
"You can't generalise from the troubles of a TI to a CA," Kumar says. "It's completely unfair and unreal to think that our business is linked to a hardware cycle."
CA, headquartered in Islandia, New York, can be reached on the World Wide Web at http://www.ca.com.