CA report: Earnings surge, CFO leaving

CA Technologies earned $299 million in its fourth quarter, up 29 percent from a year earlier, and the Islandia-based software company earned $1.25 billion for fiscal 2011, a 3 percent gain, the company said Thursday.

The company also said its fiscal fourth-quarter revenue rose 5 percent from a year earlier to $1.1. billion and that its chief financial officer plans to retire.

CA's fiscal year ended March 31. For the year, revenue also rose 5 percent from a year earlier, to $4.4 billion. "We made the progress this year that we projected," CA's chief executive William McCracken said.

The company didn't announce a retirement date for Nancy Cooper, who has been chief financial officer since 2006. But she will stay on until a replacement is found and will help with the transition, the company said. She joined the company when it was slowly rebuilding its management team following an accounting and stock option scandal.

"I expect to announce her replacement very soon," McCracken said.

CA also announced that:

IBM executive Peter Griffiths will head its technology and development group.

Its board authorized another $500 million for the company to repurchase some shares outstanding. Companies generally buy back stock to bump up the per-share price, which makes it more attractive to investors. The board authorized the same amount last year.

Its board authorized a 1-cent increase in the quarterly cash dividend to 5 cents a share.

Revenue growth in 2012 will surpass this year's and rise 6 percent to 8 percent.

The company's stock closed at $25.06 a share Thursday in Nasdaq trading, up 69 cents.