Business software maker has announced that it is delaying its fourth quarter and full fiscal year 2006 earnings report, attributing it to additional work that needs to be completed on sales commission expense and income taxes to finalise its financial results. CA expects to announce final results when it files its Annual Report on Form 10-K.
The company now expects to posts a loss of 7 cents a share, after giving effect to a 3 cents a share favorable impact of the third quarter restatement, compared to its earlier forecast of breakeven to a gain of 2 cents a share.
The company also expects that results for the fourth quarter will be adversely affected by an estimated USD 36 million in additional income taxes associated with the repatriation of cash from foreign subsidiaries.
CA also expects to restate third-quarter earnings to include about USD 26 million of additional commission expense, reducing previously reported results by 3 cents per share.
CA, whose chief financial officer abruptly left the company two weeks ago, had been scheduled to report earnings for the fiscal fourth quarter ended March 31.
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