Computer Associates International (CA) ended its 2003 financial year on a down note, reporting losses for both the fourth quarter and the year.
The software company reported a net loss of $106m (£65m) for the fourth quarter, compared with a net loss of $238m in the same quarter last year.
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For the year, CA recorded a net loss of $267m (£165m), compared with a loss of $1.10bn for the previous financial year.
Revenue was up in the fourth quarter to $801m (£494m) compared with $772m a year earlier. Revenue for the year increased as well, to $3.12bn (£1.9bn) compared with $2.96bn in 2002.
Much of that increase was because of healthy increases in subscription revenue, which grew by 46% in the company's fourth quarter to $395m (£244m) from $270m for the same quarter the previous year.
For the year, subscription revenue increased by 71% from $827m in 2002 to $1.4bn (£864m) in 2003.
CA has predicted flat revenue for the first quarter of the 2004 financial year of between $795m and $810m and annual revenue in the range of $3.27bn to $3.42bn.