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CA needs 2nd extension

Islandia software giant asks SEC for five extra days to report results for first quarter due to internal review

Newsday Staff Writer

August 9, 2006


CA Inc., the Islandia-based software giant still struggling to recover from an accounting scandal, said it will miss today's deadline to report results for its fiscal first quarter and will ask federal officials for a five-day extension.

The delay is the second in two months for the company formerly known as Computer Associates International Inc.

In June, CA postponed fourth-quarter results to review stock-options grants and said on July 31 that it found $342 million in additional costs in a 10-year period.

CA said it will ask the Securities and Exchange Commission for a five-day extension to file first-quarter results. The company attributed the latest delay to "the substantial effort and resources required to complete the internal review of its past and current stock options programs and corresponding restatements of results in its recently filed annual report for fiscal 2006."

The company said it expects to announce first-quarter results and hold a conference call Monday. It also expects first-quarter sales and profit, excluding some items, will decline from the previous three-month period.

CA has restated results six times in two years after it was rocked by a $2.2-billion accounting scandal that led to the departure of a dozen senior executives, including chief executive and chairman Sanjay Kumar, who has pleaded guilty to fraud charges and is awaiting sentencing.


Copyright Newsday Inc.



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