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CA Delays Final Results

Computer Associates International Inc. (CA) (NYSE: CA) is delaying its results for the fourth-quarter and fiscal year ended March 31, 2004, as the tremors from the companys financial scandal rumble on. The Islandia, N.Y.-based company, which has been under investigation for its accounting practices, had originally set a reporting date of May 12.

This will now take place a week or two later, according to a statement released by CA this morning. The firm, which is a major provider of mainframe and server systems management software, is clearly still setting its house in order.

On April 26, CA restated certain financials for fiscal year 2000 and 2001 after a report from the company’s audit committee found that a total of $2.2 billion of revenue was booked prematurely.

There has also been a major boardroom reshuffle, which saw CEO Sanjay Kumar step down and Kenneth D.Cron take over as interim chief exec (see CA CEO Resigns and CA Names Temp Chief).

All this brouhaha has obviously been a drain on CA’s resources. In the statement, CA chief operating officer Jeff Clarke says, “Our April 26 restatement was an extensive and time-consuming process -- this effort, which consumed thousands of person hours, unfortunately necessitated a delay in reporting current results.”

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