Computer Associates revises finances

the software company under investigation for its accounting, Thursday said it will revise its filings for the second half of 2003 to defer recognition of about $9 million in revenue, due to an adjustment in the way the company calculates subscription revenue.

The Islandia-based software company also said it will report results for the fiscal fourth quarter ended March 31 up to two weeks later than planned, due to the work involved in the restatement.

Computer Associates was set to report fourth-quarter and full-year fiscal 2004 results May 12.

In April, Sanjay Kumar, Computer Associates’ long-embattled chairman and chief executive, stepped down under pressure from directors who worried he could face a criminal indictment in a burgeoning federal accounting probe.

Computer Associates has admitted to a widespread practice of backdating contracts, pushing revenue into earlier periods to meet Wall Street forecasts. It reversed those moves by restating $2 billion in fiscal 2000 and 2001 revenue last month.

The company Thursday said it expects fourth-quarter revenue of $850 million. It had previously estimated revenue between $845 million and $865 million.

It expects earnings between 6 cents and 7 cents a share.

Computer Associates shares closed Thursday at $26.86, down 92 cents, or 3.3 percent, on the New York Stock Exchange.