CA Technologies has reported its financial results for its first quarter fiscal year 2014, ended June 30, 2013.
Mike Gregoire, CEO, CA Technologies, said, I am pleased with our performance in the first quarter and the start we made to fiscal year 2014. We did better than expected on the revenue line and were able to capitalize on organizational efficiencies, expense management and a tax benefit to drive earnings growth. Our cash flow from operations was down, but that was expected and we are confident in meeting our full year outlook in all areas.
The Company executed a total of 9 licence agreements with incremental contract values in excess of $10 million each, for an aggregate contract value of $323 million. During the first quarter of fiscal year 2013, the Company executed a total of 4 licence agreements with incremental contract values in excess of $10 million each, for an aggregate contract value of $61 million.
The weighted average duration of subscription and maintenance bookings for the quarter was 3.10 years, compared with 2.79 years for the same period in the fiscal year 2013.
GAAP operating expenses in the first quarter were adversely affected by approximately $120 million in costs associated with the rebalancing actions announced on May 7, 2013, resulting in a negative impact of $0.17 on GAAP EPS.
Cash flow from operations in the first quarter was $11 million, compared with $183 million in the prior year. Cash, cash equivalents and investments at June 30, 2013 were $2.461 billion.
The Company anticipates approximately 437 million shares outstanding at fiscal year 2014 year-end and weighted average diluted shares outstanding of approximately 446 million for the fiscal year.
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