CA Technologies annuncia i risultati del primo trimestre dell’anno fiscale 2012


  • I ricavi si attestano su 1,163 miliardi di dollari, con un aumento del 4% al netto delle variazioni sul cambio e del 9% come valore dichiarato
  • EPS GAAP a 0,45 dollari, con un aumento del 7% al netto delle variazioni sul cambio e del 5% su base dichiarata
  • EPS Non-GAAP a 0,55 dollari, con un aumento del 23% al netto delle variazioni sul cambio e del 22% come valore dichiarato
  • Annunciata l’intenzione di usare 35-45 milioni di dollari nel secondo trimestre per smobilitare altri rami d’azienda poco produttivi
  • Riconfermate le previsioni su ricavi, EPS Non-GAAP e cash flow relative all’esercizio 2012; aggiornato l’EPS GAAP a seguito dell’acquisizione di Interactive TKO

Basiglio, 21 luglio 2011 – CA Technologies (NASDAQ:CA) ha reso noti i risultati finanziari relativi al primo trimestre dell’esercizio fiscale 2012 terminato il 30 giugno 2011.

Il primo trimestre fiscale 2012 in sintesi

Nota: Tutti i risultati finanziari sono stati rivisti per rispecchiare la cessione del ramo d’azienda dedicato all’Internet Security, avvenuta nel primo trimestre.


* Non-GAAP income and earnings per share are non-GAAP financial measures, as noted in the discussion of non-GAAP results below. A reconciliation of non-GAAP financial measures to their comparable GAAP financial measures is included in the tables following this news release.
**CC: Constant Currency

Commenti del Management
L’esercizio 2012 è partito molto bene, ha dichiarato Bill McCracken, Chief Executive Officer di CA Technologies. I risultati del primo trimestre denotano migliori efficienze operative, rispecchiatesi in un miglioramento del margine operativo Non-GAAP e in una crescita a doppia cifra dell’EPS Non-GAAP.
Abbiamo continuato ad arricchire l’offerta di prodotti e servizi con l’acquisizione di Base Technologies, società privata di consulenza specializzata nella gestione delle risorse IT, e con l’accordo per l’acquisizione di Interactive TKO, importante azienda fornitrice di soluzioni per la simulazione di servizi di sviluppo applicativo in ambienti compositi e cloud, ha dichiarato McCracken. Abbiamo anche tenuto fede alla promessa di remunerare gli azionisti, riacquistando azioni ordinarie per un valore di 150 milioni di dollari nel corso del trimestre e distribuendo ben 25 milioni di dollari di dividendi, con un aumento del 25 per cento.
I clienti ci dicono che ormai è l’IT lo strumento principale per adattare l’attività aziendale alle richieste dinamiche del mercato ed essere più concorrenziali. A questa evoluzione contribuiscono la virtualizzazione, le implementazioni su cloud e le applicazioni SaaS che permettono di cambiare modello di business nel giro di pochi giorni o settimane, anziché mesi o anni. Pur aumentando la flessibilità, queste tecnologie possono anche apportare una notevole complessità gestionale, ha continuato McCracken. Diciotto mesi fa abbiamo identificato questa evoluzione su cui abbiamo fondato la nostra strategia. Crediamo che la solida esperienza e la nostra forza nella gestione tradizionale e nella sicurezza dell’IT, assieme agli ingenti investimenti di potenziamento del portfolio, ci consentiranno di diventare un’azienda di riferimento per il settore informatico.

Ricavi e sottoscrizioni contrattuali
Nel primo trimestre l’azienda ha riscontrato una virtuosa richiesta dei prodotti di Service Assurance, Identity & Access Management, delle soluzioni Nimsoft e di quelle per mainframe. Poco più di 2 punti base dell’aumento dei ricavi (a parità di cambio) e 7 punti base (come valore dichiarato) sono attribuibili a prodotti organici, mentre poco meno di 2 punti percentuali (al netto delle oscillazioni del cambio e su base dichiarata) derivano dalle acquisizioni di Base Technologies, Hyperformix e Arcot Systems. Circa il 62% dei ricavi riguarda il Nord America, il 38% l’area International.

Confronto dei ricavi con l’esercizio precedente:

  • I ricavi hanno raggiunto un totale di 1,163 miliardi di dollari, con un incremento del 4% rispetto al cambio attuale e del 9% come valore dichiarato.
  • Il totale dei ricavi arretrati è stato pari a 8,511 miliardi di dollari, con un aumento del 6% al netto dell’effetto cambio e dell’11% sul valore dichiarato. L’attuale ammontare dei ricavi arretrati è di 3,702 miliardi di dollari, con un aumento del 4% al netto delle fluttuazioni valutarie e del 10% come valore dichiarato.
  • I ricavi in Nord America hanno totalizzato 716 milioni di dollari, con un aumento del 9% sia al netto della variazione dei cambi sia come valore dichiarato.
  • I ricavi dell'area International hanno raggiunto quota 447 milioni di dollari, con un decremento del 2% al netto delle fluttuazioni valutarie e un aumento dell’8% su base dichiarata.

Confronto dei contratti con l’esercizio precedente:

  • Il portfolio contratti sottoscritto nel primo trimestre ammonta a 865 milioni di dollari, con un aumento dell’11% al netto delle fluttuazioni valutarie e del 18% come valore dichiarato.
  • L'azienda ha siglato un totale di 8 contratti di licenza dal valore superiore a 10 milioni di dollari per un totale di 255 milioni di dollari, contro i 6 contratti di fascia equivalente per un totale di 188 milioni di dollari sottoscritti nello stesso periodo dell'esercizio 2011.
  • La durata media ponderata dei contratti di abbonamento e manutenzione stipulati nel primo trimestre è stata di 3,28 anni, contro i 2,92 anni del primo trimestre dell'esercizio 2011.
  • I contratti nordamericani hanno totalizzato 534 milioni di dollari, con un aumento del 17% al netto dell’effetto cambi e del 19% come valore dichiarato.
  • I contratti dell’area International hanno raggiunto quota 331 milioni di dollari, con una crescita del 2% al netto delle fluttuazioni valutarie e del 17% come valore dichiarato.

Spese e margine
Confronto dei risultati GAAP rispetto all’esercizio precedente:

  • Le spese complessive, al lordo di interessi e imposte, sono state pari a 821 milioni di dollari, con un aumento del 3% al netto delle fluttuazioni valutarie e del 10% come valore dichiarato.
  • L'utile operativo, al lordo di interessi e imposte, è stato pari a 342 milioni di dollari, con un aumento dell’8% al netto della variazione dei cambi e del 7% come valore dichiarato.
  • Margine operativo del 29%, con decremento di 1 punto base.

Risultati Non-GAAP anno su anno (escludendo ammortamento di software e beni intangibili acquistati e altre spese, oneri di ristrutturazione antecedenti all’esercizio fiscale 2010 e altri utili e perdite comprendenti recuperi e alcuni costi associati a contenziosi, spese sostenute per retribuzioni non monetarie in titoli immobiliari, utili e perdite sulla copertura dell’utile operativo relativo a periodi futuri, ma includendo utili e perdite sulla copertura dell’utile operativo che matura nel trimestre):

  • Le spese complessive, al lordo di interessi e imposte, sono state pari a 746 milioni di dollari, con un calo dell’1% al netto delle fluttuazioni valutarie e un aumento del 6% come valore dichiarato.
  • L'utile operativo, al lordo di interessi e imposte, è stato pari a 417 milioni di dollari, con un aumento del 15% sia al netto della variazione dei cambi che come valore dichiarato.
  • Margine operativo del 36%, con aumento di 2 punti base rispetto allo stesso periodo dell’esercizio precedente.

Nel primo trimestre dell’esercizio fiscale 2012, CA Technologies ha denunciato un’aliquota fiscale sul reddito GAAP del 31,5%, contro il 28,2% dell’esercizio precedente. L’aliquota fiscale sul reddito Non-GAAP è stata pari al 31,6%, in calo rispetto al 33,6% dell’anno precedente.

Dati per segmento di business
Nel primo trimestre dell’esercizio 2012, CA Technologies dichiara per la prima volta i risultati per le tre aree: Mainframe Solutions, Enterprise Solutions e Services.

  • I ricavi del segmento Mainframe Solutions hanno totalizzato 646 milioni di dollari, con un aumento dell’1% al netto delle fluttuazioni valutarie e del 5% come valore dichiarato. Le spese complessive sono state pari a 276 milioni di dollari, mentre l’utile operativo ha raggiunto quota 370 milioni di dollari. Il margine operativo si è attestato sul 57%, rispetto al 54% dell’anno precedente.
  • I ricavi del segmento Enterprise Solutions hanno totalizzato 427 milioni di dollari, con un aumento del 9% al netto delle fluttuazioni valutarie e del 14% su base dichiarata. Le spese complessive sono state pari a 382 milioni di dollari, mentre l’utile operativo ha totalizzato 45 milioni di dollari. Il margine operativo si è attestato sull’11%, rispetto al 7% dell’anno precedente.
  • I ricavi del segmento Services hanno raggiunto quota 90 milioni di dollari, con un aumento del 9% al netto delle variazioni sui cambi e del 15% come valore dichiarato. Le spese complessive sono state pari a 88 milioni di dollari, mentre l’utile operativo è stato di 2 milioni di dollari. Il margine operativo è stato pari al 2%, diminuito rispetto al 5% dell’esercizio precedente.

Cash flow operativo
Nel primo trimestre 2012 il cash flow operativo è stato pari a 143 milioni di dollari rispetto ai 122 milioni di dollari dello stesso periodo dell’esercizio 2011. Il cash flow del primo trimestre 2012 ha risentito di un aumento di 111 milioni di dollari versati per le imposte sul reddito, rispetto allo stesso periodo dell’esercizio precedente. Inoltre, il cash flow ha beneficiato di maggiori incassi per un totale di 150 milioni di dollari, fra cui la riscossione anticipata di un pagamento pari a circa 22 milioni di dollari previsto per il secondo trimestre dell’esercizio 2012.

 

Struttura finanziaria

  • Al 30 giugno 2011 il saldo totale della liquidità e degli equivalenti in moneta liquida era di 2,950 miliardi di dollari.
  • Con 1,307 miliardi di dollari di indebitamento residuo, la Società presenta una posizione finanziaria netta di 1,643 miliardi di dollari.
  • Nel primo trimestre, la Società ha riacquistato circa 6,4 milioni di azioni proprie per un totale di 150 milioni di dollari, distribuendo dividendi per un totale di 25 milioni di dollari.
  • Al 30 giugno 2011, le azioni totali circolanti di CA Technologies erano 499 milioni.

Principali avvenimenti del primo trimestre

  • Acquisizione di Base Technologies, società privata di consulenza specializzata nella gestione delle risorse IT, con forti competenze nei settori di gestione della virtualizzazione, tecnologie mainframe, security e infrastruttura informatica gestita.
  • Nomina di Rohit Kapoor della ExlService Holdings Inc. (NASDAQ: EXLS) nel Board of Directors.
  • Nomina di Richard Beckert a Chief Financial Officer.
  • Assunzione di Peter Griffiths come Executive Vice President del Technology & Development Group.
  • Creazione di un’alleanza strategica mondiale con VCE (Virtual Computing Environment) per la messa a punto di soluzioni integrate, basate su cloud private, per le piattaforme infrastrutturali Vblock™ di VCE che aiuteranno i clienti ad aumentare l’agilità, ridurre i rischi e abbattere i costi.
  • Accordo conclusivo per l’acquisizione della Interactive TKO, Inc. (ITKO), società ad azionariato privato specializzata nella fornitura di soluzioni per la simulazione di servizi di sviluppo applicativo in ambienti compositi e cloud, per un corrispettivo di 330 milioni di dollari in contanti.
  • Cessione del ramo d’azienda di Internet Security alla Updata Partners.

Allineamento alla strategia della struttura dei costi e delle risorse
La Società ha annunciato che nel secondo trimestre dovrà probabilmente registrare un decremento del reddito GAAP e Non-GAAP compreso fra circa 35 e 45 milioni di dollari derivante dal taglio di posti di lavoro fino a un massimo di 500. Tale azione s’inquadra nell’opera intrapresa da CA Technologies per ottimizzare il business spostando risorse da aree non strategiche a tecnologie e regioni geografiche in crescita mediante la smobilitazione di rami non strategici per l’azienda.

Previsioni per l’esercizio 2012
L’azienda ha riconfermato le proprie previsioni relative a ricavi, EPS Non-GAAP e cash flow, aggiornando le stime riguardanti l’EPS GAAP a seguito della prevista acquisizione della Interactive TKO. Le stime seguenti, che si basano sulle aspettative correnti, rappresentano forward looking statements (nell'accezione definita più sotto).

La Società prevede quanto segue:

  • Aumento complessivo dei ricavi compreso fra il 6 e l’8% a parità di cambio; secondo i tassi di cambio al 30 giugno 2011, ciò corrisponde a ricavi dichiarati di 4,9 - 5,0 miliardi di dollari.
  • L'utile operativo GAAP per azione ordinaria diluita crescerà fra il 5 e il 9% al netto dell’effetto cambio, contro la precedente previsione di una fascia compresa fra il 6 e l’11%. Ai tassi di cambio vigenti al 30 giugno 2011, ciò corrisponde a un utile operativo GAAP per azione ordinaria diluita compreso fra 1,79 e 1,86 dollari.
  • L'utile operativo Non-GAAP per azione ordinaria diluita crescerà fra il 6 e il 10% al netto dell’effetto cambio. Ai tassi di cambio vigenti al 30 giugno 2011, ciò corrisponde a un utile operativo Non-GAAP per azione ordinaria diluita compreso fra 2,14 e 2,21 dollari.
  • Il cash flow operativo crescerà fra il 3 e il 5% al netto dell’effetto cambio. Ai tassi di cambio vigenti al 30 giugno 2011, ciò corrisponde a un cash flow operativo compreso fra 1,48 e 1,51 miliardi di dollari.

Queste previsioni tengono conto dell’impatto dell’acquisizione in programma della Interactive TKO, di un decremento compreso fra 35 e 45 milioni di dollari, di una copertura parziale dell’utile operativo e delle nuove attese riguardanti il totale delle azioni. La Società si aspetta inoltre un’aliquota fiscale sul reddito GAAP e Non-GAAP compresa fra il 31 e il 32% per l’intera annualità.

CA Technologies prevede che vi saranno circa 489 milioni di dollari di azioni in circolazione alla fine dell’esercizio 2012 e un totale medio ponderato di circa 497 milioni di dollari di azioni diluite per l’esercizio 2012 nel suo complesso.

Webcast
Ulteriori informazioni di dettaglio sull’annuncio odierno dei dati finanziari sono disponibili sul sito Web di CA Technologies all'indirizzo http://www.ca.com/invest.

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Non-GAAP Financial Measures

This news release, the accompanying tables and the additional content that is available on the Company's website, including a supplemental financial package, includes certain financial measures that exclude the impact of certain items and therefore have not been calculated in accordance with U.S. generally accepted accounting principles (GAAP). Non-GAAP metrics for operating expenses, operating income, operating margin, income from operations and diluted earnings per share exclude the following items: non-cash amortization of purchased software and other intangibles, share-based compensation, pre-fiscal year 2010 restructuring and certain other gains and losses, which includes recoveries and certain costs associated with derivative litigation matters and includes the gains and losses since inception of hedges that mature within the quarter, but exclude gains and losses of hedges that do not mature within the quarter. Prior to fiscal year 2011, non-GAAP income also excludes the interest on convertible bonds. The effective tax rate on GAAP and non-GAAP income from operations is the Company’s provision for income taxes expressed as a percentage of pre-tax GAAP and non-GAAP income from operations, respectively. Such tax rates are determined based on an estimated effective full year tax rate, with the effective tax rate for GAAP generally including the impact of discrete items in the period such items arise and the effective tax rate for non-GAAP income generally allocating the impact of discrete items pro rata to the fiscal year’s remaining reporting periods. Non-GAAP adjusted cash flow excludes pre-fiscal 2010 restructuring and other payments. Free cash flow excludes capital expenditures. We present constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than US dollars are converted into US dollars at the exchange rate in effect on March 31, 2010, which was the last day of our prior fiscal year. Constant currency excludes the impacts from the Company's hedging program. The constant currency calculation for annualized subscription and maintenance bookings is calculated by dividing the subscription and maintenance bookings in constant currency by the weighted average subscription and maintenance duration in years. These non-GAAP financial measures may be different from non-GAAP financial measures used by other companies. Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. By excluding these items, non-GAAP financial measures facilitate management's internal comparisons to the Company's historical operating results and cash flows, to competitors' operating results and cash flows, and to estimates made by securities analysts. Management uses these non-GAAP financial measures internally to evaluate its performance and they are key variables in determining management incentive compensation. The Company believes these non-GAAP financial measures are useful to investors in allowing for greater transparency of supplemental information used by management in its financial and operational decision-making. In addition, the Company has historically reported similar non-GAAP financial measures to its investors and believes that the inclusion of comparative numbers provides consistency in its financial reporting. Investors are encouraged to review the reconciliation of the non-GAAP financial measures used in this news release to their most directly comparable GAAP financial measures, which are attached to this news release.

 

Cautionary Statement Regarding Forward-Looking Statements 
Certain statements in this communication (such as statements containing the words believes, plans, anticipates, expects, estimates and similar expressions) constitute forward-looking statements that are based upon the beliefs of, and assumptions made by, the Company's management, as well as information currently available to management. These forward-looking statements reflect the Company's current views with respect to future events and are subject to certain risks, uncertainties, and assumptions. A number of important factors could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: the ability to achieve success in the Company’s strategy by, among other things, increasing sales in new and emerging enterprises and markets, enabling the sales force to sell new products, improving the Company’s brand in the marketplace and ensuring the Company’s set of cloud computing, Software-as-a-Service and other new offerings address the needs of a rapidly changing market, while not adversely affecting the demand for the Company’s traditional products or its profitability; global economic factors or political events beyond the Company's control; general economic conditions and credit constraints, or unfavorable economic conditions in a particular region, industry or business sector; failure to expand partner programs; the ability to adequately manage and evolve financial reporting and managerial systems and processes; the ability to integrate acquired companies and products into existing businesses; competition in product and service offerings and pricing; the ability to retain and attract qualified key personnel; the ability to adapt to rapid technological and market changes; the ability of the Company’s products to remain compatible with ever-changing operating environments; access to software licensed from third parties; use of software from open source code sources; discovery of errors in the Company's software and potential product liability claims; significant amounts of debt and possible future credit rating changes; the failure to protect the Company's intellectual property rights and source code; fluctuations in the number, terms and duration of our license agreements as well as the timing of orders from customers and channel partners; reliance upon large transactions with customers; risks associated with sales to government customers; breaches of the Company’s software products and the Company’s and customers’ data centers and IT environments; third-party claims of intellectual property infringement or royalty payments; fluctuations in foreign currencies; successful outsourcing of various functions to third parties; potential tax liabilities; and other factors described more fully in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update the information in this communication, except as otherwise required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

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Non-GAAP Financial Measures
This news release, the accompanying tables and the additional content that is available on the Company's website, including a supplemental financial package, includes certain financial measures that exclude the impact of certain items and therefore have not been calculated in accordance with U.S. generally accepted accounting principles (GAAP). Non-GAAP metrics for operating expenses, operating income, operating margin, income from operations and diluted earnings per share exclude the following items: non-cash amortization of purchased software and other intangibles, share-based compensation, pre-fiscal year 2010 restructuring and certain other gains and losses, which includes recoveries and certain costs associated with derivative litigation matters and includes the gains and losses since inception of hedges that mature within the quarter, but exclude gains and losses of hedges that do not mature within the quarter. Prior to fiscal year 2011, non-GAAP income also excludes the interest on convertible bonds. The effective tax rate on GAAP and non-GAAP income from operations is the Company’s provision for income taxes expressed as a percentage of pre-tax GAAP and non-GAAP income from operations, respectively. Such tax rates are determined based on an estimated effective full year tax rate, with the effective tax rate for GAAP generally including the impact of discrete items in the period such items arise and the effective tax rate for non-GAAP income generally allocating the impact of discrete items pro rata to the fiscal year’s remaining reporting periods. Non-GAAP adjusted cash flow excludes pre-fiscal 2010 restructuring and other payments. Free cash flow excludes capital expenditures. We present constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than US dollars are converted into US dollars at the exchange rate in effect on March 31, 2010, which was the last day of our prior fiscal year. Constant currency excludes the impacts from the Company's hedging program. The constant currency calculation for annualized subscription and maintenance bookings is calculated by dividing the subscription and maintenance bookings in constant currency by the weighted average subscription and maintenance duration in years. These non-GAAP financial measures may be different from non-GAAP financial measures used by other companies. Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. By excluding these items, non-GAAP financial measures facilitate management's internal comparisons to the Company's historical operating results and cash flows, to competitors' operating results and cash flows, and to estimates made by securities analysts. Management uses these non-GAAP financial measures internally to evaluate its performance and they are key variables in determining management incentive compensation. The Company believes these non-GAAP financial measures are useful to investors in allowing for greater transparency of supplemental information used by management in its financial and operational decision-making. In addition, the Company has historically reported similar non-GAAP financial measures to its investors and believes that the inclusion of comparative numbers provides consistency in its financial reporting. Investors are encouraged to review the reconciliation of the non-GAAP financial measures used in this news release to their most directly comparable GAAP financial measures, which are attached to this news release.

 

Cautionary Statement Regarding Forward-Looking Statements 
Certain statements in this communication (such as statements containing the words believes, plans, anticipates, expects, estimates and similar expressions) constitute forward-looking statements that are based upon the beliefs of, and assumptions made by, the Company's management, as well as information currently available to management. These forward-looking statements reflect the Company's current views with respect to future events and are subject to certain risks, uncertainties, and assumptions. A number of important factors could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: the ability to achieve success in the Company’s strategy by, among other things, increasing sales in new and emerging enterprises and markets, enabling the sales force to sell new products, improving the Company’s brand in the marketplace and ensuring the Company’s set of cloud computing, Software-as-a-Service and other new offerings address the needs of a rapidly changing market, while not adversely affecting the demand for the Company’s traditional products or its profitability; global economic factors or political events beyond the Company's control; general economic conditions and credit constraints, or unfavorable economic conditions in a particular region, industry or business sector; failure to expand partner programs; the ability to adequately manage and evolve financial reporting and managerial systems and processes; the ability to integrate acquired companies and products into existing businesses; competition in product and service offerings and pricing; the ability to retain and attract qualified key personnel; the ability to adapt to rapid technological and market changes; the ability of the Company’s products to remain compatible with ever-changing operating environments; access to software licensed from third parties; use of software from open source code sources; discovery of errors in the Company's software and potential product liability claims; significant amounts of debt and possible future credit rating changes; the failure to protect the Company's intellectual property rights and source code; fluctuations in the number, terms and duration of our license agreements as well as the timing of orders from customers and channel partners; reliance upon large transactions with customers; risks associated with sales to government customers; breaches of the Company’s software products and the Company’s and customers’ data centers and IT environments; third-party claims of intellectual property infringement or royalty payments; fluctuations in foreign currencies; successful outsourcing of various functions to third parties; potential tax liabilities; and other factors described more fully in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update the information in this communication, except as otherwise required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

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Non-GAAP Financial Measures
This news release, the accompanying tables and the additional content that is available on the Company's website, including a supplemental financial package, includes certain financial measures that exclude the impact of certain items and therefore have not been calculated in accordance with U.S. generally accepted accounting principles (GAAP). Non-GAAP metrics for operating expenses, operating income, operating margin, income from operations and diluted earnings per share exclude the following items: non-cash amortization of purchased software and other intangibles, share-based compensation, pre-fiscal year 2010 restructuring and certain other gains and losses, which includes recoveries and certain costs associated with derivative litigation matters and includes the gains and losses since inception of hedges that mature within the quarter, but exclude gains and losses of hedges that do not mature within the quarter. Prior to fiscal year 2011, non-GAAP income also excludes the interest on convertible bonds. The effective tax rate on GAAP and non-GAAP income from operations is the Company’s provision for income taxes expressed as a percentage of pre-tax GAAP and non-GAAP income from operations, respectively. Such tax rates are determined based on an estimated effective full year tax rate, with the effective tax rate for GAAP generally including the impact of discrete items in the period such items arise and the effective tax rate for non-GAAP income generally allocating the impact of discrete items pro rata to the fiscal year’s remaining reporting periods. Non-GAAP adjusted cash flow excludes pre-fiscal 2010 restructuring and other payments. Free cash flow excludes capital expenditures. We present constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than US dollars are converted into US dollars at the exchange rate in effect on March 31, 2010, which was the last day of our prior fiscal year. Constant currency excludes the impacts from the Company's hedging program. The constant currency calculation for annualized subscription and maintenance bookings is calculated by dividing the subscription and maintenance bookings in constant currency by the weighted average subscription and maintenance duration in years. These non-GAAP financial measures may be different from non-GAAP financial measures used by other companies. Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. By excluding these items, non-GAAP financial measures facilitate management's internal comparisons to the Company's historical operating results and cash flows, to competitors' operating results and cash flows, and to estimates made by securities analysts. Management uses these non-GAAP financial measures internally to evaluate its performance and they are key variables in determining management incentive compensation. The Company believes these non-GAAP financial measures are useful to investors in allowing for greater transparency of supplemental information used by management in its financial and operational decision-making. In addition, the Company has historically reported similar non-GAAP financial measures to its investors and believes that the inclusion of comparative numbers provides consistency in its financial reporting. Investors are encouraged to review the reconciliation of the non-GAAP financial measures used in this news release to their most directly comparable GAAP financial measures, which are attached to this news release.

 

Cautionary Statement Regarding Forward-Looking Statements 
Certain statements in this communication (such as statements containing the words believes, plans, anticipates, expects, estimates and similar expressions) constitute forward-looking statements that are based upon the beliefs of, and assumptions made by, the Company's management, as well as information currently available to management. These forward-looking statements reflect the Company's current views with respect to future events and are subject to certain risks, uncertainties, and assumptions. A number of important factors could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: the ability to achieve success in the Company’s strategy by, among other things, increasing sales in new and emerging enterprises and markets, enabling the sales force to sell new products, improving the Company’s brand in the marketplace and ensuring the Company’s set of cloud computing, Software-as-a-Service and other new offerings address the needs of a rapidly changing market, while not adversely affecting the demand for the Company’s traditional products or its profitability; global economic factors or political events beyond the Company's control; general economic conditions and credit constraints, or unfavorable economic conditions in a particular region, industry or business sector; failure to expand partner programs; the ability to adequately manage and evolve financial reporting and managerial systems and processes; the ability to integrate acquired companies and products into existing businesses; competition in product and service offerings and pricing; the ability to retain and attract qualified key personnel; the ability to adapt to rapid technological and market changes; the ability of the Company’s products to remain compatible with ever-changing operating environments; access to software licensed from third parties; use of software from open source code sources; discovery of errors in the Company's software and potential product liability claims; significant amounts of debt and possible future credit rating changes; the failure to protect the Company's intellectual property rights and source code; fluctuations in the number, terms and duration of our license agreements as well as the timing of orders from customers and channel partners; reliance upon large transactions with customers; risks associated with sales to government customers; breaches of the Company’s software products and the Company’s and customers’ data centers and IT environments; third-party claims of intellectual property infringement or royalty payments; fluctuations in foreign currencies; successful outsourcing of various functions to third parties; potential tax liabilities; and other factors described more fully in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update the information in this communication, except as otherwise required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

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Non-GAAP Financial Measures
This news release, the accompanying tables and the additional content that is available on the Company's website, including a supplemental financial package, includes certain financial measures that exclude the impact of certain items and therefore have not been calculated in accordance with U.S. generally accepted accounting principles (GAAP). Non-GAAP metrics for operating expenses, operating income, operating margin, income from operations and diluted earnings per share exclude the following items: non-cash amortization of purchased software and other intangibles, share-based compensation, pre-fiscal year 2010 restructuring and certain other gains and losses, which includes recoveries and certain costs associated with derivative litigation matters and includes the gains and losses since inception of hedges that mature within the quarter, but exclude gains and losses of hedges that do not mature within the quarter. Prior to fiscal year 2011, non-GAAP income also excludes the interest on convertible bonds. The effective tax rate on GAAP and non-GAAP income from operations is the Company’s provision for income taxes expressed as a percentage of pre-tax GAAP and non-GAAP income from operations, respectively. Such tax rates are determined based on an estimated effective full year tax rate, with the effective tax rate for GAAP generally including the impact of discrete items in the period such items arise and the effective tax rate for non-GAAP income generally allocating the impact of discrete items pro rata to the fiscal year’s remaining reporting periods. Non-GAAP adjusted cash flow excludes pre-fiscal 2010 restructuring and other payments. Free cash flow excludes capital expenditures. We present constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than US dollars are converted into US dollars at the exchange rate in effect on March 31, 2010, which was the last day of our prior fiscal year. Constant currency excludes the impacts from the Company's hedging program. The constant currency calculation for annualized subscription and maintenance bookings is calculated by dividing the subscription and maintenance bookings in constant currency by the weighted average subscription and maintenance duration in years. These non-GAAP financial measures may be different from non-GAAP financial measures used by other companies. Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. By excluding these items, non-GAAP financial measures facilitate management's internal comparisons to the Company's historical operating results and cash flows, to competitors' operating results and cash flows, and to estimates made by securities analysts. Management uses these non-GAAP financial measures internally to evaluate its performance and they are key variables in determining management incentive compensation. The Company believes these non-GAAP financial measures are useful to investors in allowing for greater transparency of supplemental information used by management in its financial and operational decision-making. In addition, the Company has historically reported similar non-GAAP financial measures to its investors and believes that the inclusion of comparative numbers provides consistency in its financial reporting. Investors are encouraged to review the reconciliation of the non-GAAP financial measures used in this news release to their most directly comparable GAAP financial measures, which are attached to this news release.

 

Cautionary Statement Regarding Forward-Looking Statements 
Certain statements in this communication (such as statements containing the words believes, plans, anticipates, expects, estimates and similar expressions) constitute forward-looking statements that are based upon the beliefs of, and assumptions made by, the Company's management, as well as information currently available to management. These forward-looking statements reflect the Company's current views with respect to future events and are subject to certain risks, uncertainties, and assumptions. A number of important factors could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: the ability to achieve success in the Company’s strategy by, among other things, increasing sales in new and emerging enterprises and markets, enabling the sales force to sell new products, improving the Company’s brand in the marketplace and ensuring the Company’s set of cloud computing, Software-as-a-Service and other new offerings address the needs of a rapidly changing market, while not adversely affecting the demand for the Company’s traditional products or its profitability; global economic factors or political events beyond the Company's control; general economic conditions and credit constraints, or unfavorable economic conditions in a particular region, industry or business sector; failure to expand partner programs; the ability to adequately manage and evolve financial reporting and managerial systems and processes; the ability to integrate acquired companies and products into existing businesses; competition in product and service offerings and pricing; the ability to retain and attract qualified key personnel; the ability to adapt to rapid technological and market changes; the ability of the Company’s products to remain compatible with ever-changing operating environments; access to software licensed from third parties; use of software from open source code sources; discovery of errors in the Company's software and potential product liability claims; significant amounts of debt and possible future credit rating changes; the failure to protect the Company's intellectual property rights and source code; fluctuations in the number, terms and duration of our license agreements as well as the timing of orders from customers and channel partners; reliance upon large transactions with customers; risks associated with sales to government customers; breaches of the Company’s software products and the Company’s and customers’ data centers and IT environments; third-party claims of intellectual property infringement or royalty payments; fluctuations in foreign currencies; successful outsourcing of various functions to third parties; potential tax liabilities; and other factors described more fully in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update the information in this communication, except as otherwise required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

***

***

 

Non-GAAP Financial Measures
This news release, the accompanying tables and the additional content that is available on the Company's website, including a supplemental financial package, includes certain financial measures that exclude the impact of certain items and therefore have not been calculated in accordance with U.S. generally accepted accounting principles (GAAP). Non-GAAP metrics for operating expenses, operating income, operating margin, income from operations and diluted earnings per share exclude the following items: non-cash amortization of purchased software and other intangibles, share-based compensation, pre-fiscal year 2010 restructuring and certain other gains and losses, which includes recoveries and certain costs associated with derivative litigation matters and includes the gains and losses since inception of hedges that mature within the quarter, but exclude gains and losses of hedges that do not mature within the quarter. Prior to fiscal year 2011, non-GAAP income also excludes the interest on convertible bonds. The effective tax rate on GAAP and non-GAAP income from operations is the Company’s provision for income taxes expressed as a percentage of pre-tax GAAP and non-GAAP income from operations, respectively. Such tax rates are determined based on an estimated effective full year tax rate, with the effective tax rate for GAAP generally including the impact of discrete items in the period such items arise and the effective tax rate for non-GAAP income generally allocating the impact of discrete items pro rata to the fiscal year’s remaining reporting periods. Non-GAAP adjusted cash flow excludes pre-fiscal 2010 restructuring and other payments. Free cash flow excludes capital expenditures. We present constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than US dollars are converted into US dollars at the exchange rate in effect on March 31, 2010, which was the last day of our prior fiscal year. Constant currency excludes the impacts from the Company's hedging program. The constant currency calculation for annualized subscription and maintenance bookings is calculated by dividing the subscription and maintenance bookings in constant currency by the weighted average subscription and maintenance duration in years. These non-GAAP financial measures may be different from non-GAAP financial measures used by other companies. Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. By excluding these items, non-GAAP financial measures facilitate management's internal comparisons to the Company's historical operating results and cash flows, to competitors' operating results and cash flows, and to estimates made by securities analysts. Management uses these non-GAAP financial measures internally to evaluate its performance and they are key variables in determining management incentive compensation. The Company believes these non-GAAP financial measures are useful to investors in allowing for greater transparency of supplemental information used by management in its financial and operational decision-making. In addition, the Company has historically reported similar non-GAAP financial measures to its investors and believes that the inclusion of comparative numbers provides consistency in its financial reporting. Investors are encouraged to review the reconciliation of the non-GAAP financial measures used in this news release to their most directly comparable GAAP financial measures, which are attached to this news release.

 

Cautionary Statement Regarding Forward-Looking Statements 
Certain statements in this communication (such as statements containing the words believes, plans, anticipates, expects, estimates and similar expressions) constitute forward-looking statements that are based upon the beliefs of, and assumptions made by, the Company's management, as well as information currently available to management. These forward-looking statements reflect the Company's current views with respect to future events and are subject to certain risks, uncertainties, and assumptions. A number of important factors could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: the ability to achieve success in the Company’s strategy by, among other things, increasing sales in new and emerging enterprises and markets, enabling the sales force to sell new products, improving the Company’s brand in the marketplace and ensuring the Company’s set of cloud computing, Software-as-a-Service and other new offerings address the needs of a rapidly changing market, while not adversely affecting the demand for the Company’s traditional products or its profitability; global economic factors or political events beyond the Company's control; general economic conditions and credit constraints, or unfavorable economic conditions in a particular region, industry or business sector; failure to expand partner programs; the ability to adequately manage and evolve financial reporting and managerial systems and processes; the ability to integrate acquired companies and products into existing businesses; competition in product and service offerings and pricing; the ability to retain and attract qualified key personnel; the ability to adapt to rapid technological and market changes; the ability of the Company’s products to remain compatible with ever-changing operating environments; access to software licensed from third parties; use of software from open source code sources; discovery of errors in the Company's software and potential product liability claims; significant amounts of debt and possible future credit rating changes; the failure to protect the Company's intellectual property rights and source code; fluctuations in the number, terms and duration of our license agreements as well as the timing of orders from customers and channel partners; reliance upon large transactions with customers; risks associated with sales to government customers; breaches of the Company’s software products and the Company’s and customers’ data centers and IT environments; third-party claims of intellectual property infringement or royalty payments; fluctuations in foreign currencies; successful outsourcing of various functions to third parties; potential tax liabilities; and other factors described more fully in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update the information in this communication, except as otherwise required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

***

***

 

Non-GAAP Financial Measures
This news release, the accompanying tables and the additional content that is available on the Company's website, including a supplemental financial package, includes certain financial measures that exclude the impact of certain items and therefore have not been calculated in accordance with U.S. generally accepted accounting principles (GAAP). Non-GAAP metrics for operating expenses, operating income, operating margin, income from operations and diluted earnings per share exclude the following items: non-cash amortization of purchased software and other intangibles, share-based compensation, pre-fiscal year 2010 restructuring and certain other gains and losses, which includes recoveries and certain costs associated with derivative litigation matters and includes the gains and losses since inception of hedges that mature within the quarter, but exclude gains and losses of hedges that do not mature within the quarter. Prior to fiscal year 2011, non-GAAP income also excludes the interest on convertible bonds. The effective tax rate on GAAP and non-GAAP income from operations is the Company’s provision for income taxes expressed as a percentage of pre-tax GAAP and non-GAAP income from operations, respectively. Such tax rates are determined based on an estimated effective full year tax rate, with the effective tax rate for GAAP generally including the impact of discrete items in the period such items arise and the effective tax rate for non-GAAP income generally allocating the impact of discrete items pro rata to the fiscal year’s remaining reporting periods. Non-GAAP adjusted cash flow excludes pre-fiscal 2010 restructuring and other payments. Free cash flow excludes capital expenditures. We present constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present this information, current and comparative prior period results for entities reporting in currencies other than US dollars are converted into US dollars at the exchange rate in effect on March 31, 2010, which was the last day of our prior fiscal year. Constant currency excludes the impacts from the Company's hedging program. The constant currency calculation for annualized subscription and maintenance bookings is calculated by dividing the subscription and maintenance bookings in constant currency by the weighted average subscription and maintenance duration in years. These non-GAAP financial measures may be different from non-GAAP financial measures used by other companies. Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. By excluding these items, non-GAAP financial measures facilitate management's internal comparisons to the Company's historical operating results and cash flows, to competitors' operating results and cash flows, and to estimates made by securities analysts. Management uses these non-GAAP financial measures internally to evaluate its performance and they are key variables in determining management incentive compensation. The Company believes these non-GAAP financial measures are useful to investors in allowing for greater transparency of supplemental information used by management in its financial and operational decision-making. In addition, the Company has historically reported similar non-GAAP financial measures to its investors and believes that the inclusion of comparative numbers provides consistency in its financial reporting. Investors are encouraged to review the reconciliation of the non-GAAP financial measures used in this news release to their most directly comparable GAAP financial measures, which are attached to this news release.

 

Cautionary Statement Regarding Forward-Looking Statements 
Certain statements in this communication (such as statements containing the words believes, plans, anticipates, expects, estimates and similar expressions) constitute forward-looking statements that are based upon the beliefs of, and assumptions made by, the Company's management, as well as information currently available to management. These forward-looking statements reflect the Company's current views with respect to future events and are subject to certain risks, uncertainties, and assumptions. A number of important factors could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: the ability to achieve success in the Company’s strategy by, among other things, increasing sales in new and emerging enterprises and markets, enabling the sales force to sell new products, improving the Company’s brand in the marketplace and ensuring the Company’s set of cloud computing, Software-as-a-Service and other new offerings address the needs of a rapidly changing market, while not adversely affecting the demand for the Company’s traditional products or its profitability; global economic factors or political events beyond the Company's control; general economic conditions and credit constraints, or unfavorable economic conditions in a particular region, industry or business sector; failure to expand partner programs; the ability to adequately manage and evolve financial reporting and managerial systems and processes; the ability to integrate acquired companies and products into existing businesses; competition in product and service offerings and pricing; the ability to retain and attract qualified key personnel; the ability to adapt to rapid technological and market changes; the ability of the Company’s products to remain compatible with ever-changing operating environments; access to software licensed from third parties; use of software from open source code sources; discovery of errors in the Company's software and potential product liability claims; significant amounts of debt and possible future credit rating changes; the failure to protect the Company's intellectual property rights and source code; fluctuations in the number, terms and duration of our license agreements as well as the timing of orders from customers and channel partners; reliance upon large transactions with customers; risks associated with sales to government customers; breaches of the Company’s software products and the Company’s and customers’ data centers and IT environments; third-party claims of intellectual property infringement or royalty payments; fluctuations in foreign currencies; successful outsourcing of various functions to third parties; potential tax liabilities; and other factors described more fully in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update the information in this communication, except as otherwise required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

***

Press Contacts


Mariateresa Faregna

Responsabile Relazioni Esterne
CA Technologies
Telefono: +39-02-90464-739

A PROPOSITO DI CA TECHNOLOGIES

CA Technologies (NASDAQ: CA) sviluppa software che promuove la trasformazione nelle aziende, aiutandole a cogliere le opportunità dell’economia delle applicazioni. Il software costituisce il cuore di ogni azienda, a prescindere dal settore. Che si tratti di pianificazione, sviluppo, gestione e/o sicurezza, CA collabora con aziende di tutto il mondo per trasformare il modo in cui si vive, si lavora e si comunica in qualsiasi tipo di ambiente — mobile, cloud (pubblico e privato), distribuito e mainframe. Per ulteriori informazioni si prega di visitare il sito all’indirizzo www.ca.com/it.

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Copyright © 2011 CA Technologies. Tutti i diritti riservati. Tutti i marchi di fabbrica, nomi commerciali, marchi di servizio e logo citati nel presente articolo sono di proprietà delle rispettive aziende titolari.

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