Security sector bolsters CA's financials


Security sector bolsters CA's financials

Antony Savvas

Buoyed by revenue and profits from the acquisition of security software supplier Netegrity, Computer Associates saw its third quarter sales rise 9% and its profit almost rise 100% from the same period last year.

CA's £506m sales for the three months ending 31 December were accompanied by a pre-tax profit of £29m.

"We are starting to see real traction from our growth initiatives," said CA chief operating officer Jeff Clarke. 

"Our channel business performed well this quarter, up 17%, and security continues to be a strong segment of our business, with more than 94% bookings growth. CA's cost-cutting efforts are on track and the Netegrity integration is going extremely well," he said.

The profit figure comes after a £10m charge to pay for the shareholder litigation costs in relation to CA's accounting violations under the leadership of previous chief executive officer Sanjay Kumar. 

John Swainson will take over as CEO from interim CEO Ken Cron later this year.

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