Rally Software reports 26 percent jump in first-quarter revenue

BOULDER — Rally Software Development Corp. (NYSE: RALY) on Thursday reported a 26 percent bump in revenue in the first quarter of its fiscal year 2016 vs. a year earlier.

The numbers reflect the period ending April 30 for the Boulder-based company.

New York-based software firm CA Technologies (Nasdaq: CA) announced last week that it was purchasing Rally for $480 million. In the wake of the deal, the company opted not to hold its previously scheduled conference call to discuss first-quarter financials and canceled its Analyst Day slated for June 16.

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Rally provides businesses with Agile development software and services.

The company reported first-quarter revenue of $24.5 million, up from $19.4 million a year earlier. Net loss narrowed from $8.5 million, or 34 cents per share last year, to $6.9 million, or 27 cents per share, this year.

CA’s purchase of Rally is expected to close in the third quarter of calendar year 2015.