Computer Associates turned in a positive set of fourth quarter figures amid rumours that it was on the verge of making another acquisition.
The two names in the frame are services company, Computer Horizons, which specialises in Year 2000 consultancy and outsourcing, and Voice Control Systems, a $14.4 million turnover company that sells voice recognition systems.
However, the former purchase would seem the most likely given CA?s repeated statements since its failed hostile takeover attempt of Computer Sciences a couple of months ago that it intended to buy a series of other smaller services players.
For its fourth quarter ending on 31 March 1998, CA saw revenues rise by 22 per cent to $1.5 billion. Net profits were $422.8 million, excluding the $33.8 million pre-tax charge related to the CSC tender offer, compared with the pro forma income of $336 million in the same period last year.
For the full fiscal year, the software giant saw turnover increase by by 17 per cent to $4.7 billion, while net profits rose 24 per cent, excluding the one off charge, to $1.2 billion.
The firm?s shares, which have been on a consistent slide from a high of $62 about ten days ago, rose from 55 15/16 at the start of play to 56 = at the close. They traded up another 1/8 after the bell to trade at 56 5/8.
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