Compuware Takes A Revenue Hit
The Farmington Hill, Mich., software company warned last week that its financial numbers would fall short of projections. For the quarter ended June 30, Compuware reported revenues of $346.6 million, compared with $450.5 million in the same period last year. Net income in the most recent quarter was $22.5 million, down from $34.4 million in the same quarter of fiscal 2002. The company said earnings per share were 6 cents compared to 9 cents last year, based upon 378.5 million and 382.2 million shares outstanding, respectively.
During Compuwares first quarter, software license fees were $57.2 million, maintenance fees were $105.7 million and revenue from professional services was $183.8 million.
"At over $95 million for the quarter, our cash flow from operations was good," said Compuware President Joe Nathan, in a statement. "Our services business is once again profitable, with significantly improved margins from last quarter. In a demanding market for technology, Compuware is performing reasonably well."
During the quarter, Compuware initiated a restructuring and cut more than 1,000 jobs. Other highlights include reorganizing its professional services operations; releasing the latest version of DevPartner Studio; announcing the general availability of Vantage 8, Compuwares integrated suite of tools for application performance management; and releasing Abend-AID Fault Manager 2.5 fault notification solution.
The company also announced the availability of File-AID/Data Solutions 3.3; introduced new Strobe enterprise application performance management solutions; made OptimalJ 2.1 generally available; released Xpediter/DevEnterprise 3.4, automated application analysis tool; and announced that it would sell SoftICE 4.2.6 as a standalone product to diagnose problems in device drivers and applications.