Reba: Confirmed; 12th August, 1998 annual general meeting at 10 a.m.
(From CA Investor Relations)
Thought I would also post again the excerpt from the 1st quarter report that has caused all the trouble because it is sometimes misquoted (by me as well). Note that along with the warning there is some positive comment.
Victor
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COMPUTER ASSOCIATES REPORTS RECORD FIRST QUARTER
Operating Earnings Up 25%
ISLANDIA, N.Y., July 21, 1998--Computer Associates International, Inc. (NYSE: CA) today announced record results for its first fiscal quarter.
For the quarter ended June 30, 1998, revenue was $1,046,637,000, an increase of 18% over the $890,739,000 reported in the previous year's first quarter. Net income, excluding the approximate $675 million (after-tax) one-time charge related to stock issuance under the 1995 Key Employee Stock Ownership Plan, was $194,156,000, an increase of 25% over last year's $155,773,000. First quarter earnings per share (diluted), excluding the charge, were $.34, compared to $.28 a year ago, an increase of 21%.
All per share amounts have been adjusted for the Company's three-for-two stock split effective November 5, 1997.
"This was a very exciting quarter for CA in that we rolled out several significant new initiatives at our annual CA World User Conference," said Charles B. Wang, CA's chairman and chief executive officer. "The next version of Unicenter, named Unicenter TND (The Next Dimension), the availability of new Unicenter components as Enterprise and Workgroup Editions, and the integration of cross-platform database and tool offerings into a strategy called Harmony, all show that CA is accelerating its delivery of the latest technology to our clients."
"We are pleased with client acceptance of Unicenter and other CA products, and the continued momentum indicated by these financial results," stated Sanjay Kumar, CA president and chief operating officer. "Our view of marketplace opportunities and our ability to execute on that vision has allowed us to transform ourselves into the leading cross-platform provider of infrastructure software.
"While our operating units in Asia had more challenges than usual this quarter, our other units, particularly in North and Latin America, stepped up well to compensate," continued Mr. Kumar. "Although this quarter demonstrates the progress we are making in establishing Unicenter as the world-wide standard in enterprise management, we are concerned about the ripple effect of the Asian economic turmoil on our multinational clients and its potentially adverse impact on our near-term business. This, coupled with deferred software purchasing decisions as customers deal with their 'Y2K' projects and mainframe hardware transition issues, leads us to believe that our revenue and earnings growth will slow over the next several quarters. Despite these near term challenges and uncertainties, we remain quite optimistic about our overall competitive positioning and our longer term business fundamentals."
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