Compuware Declines as Profit Figure, Forecast Miss Estimates
January 17, 2012, 8:54 PM ESTBy Alexander Yablon
Jan. 17 (Bloomberg) -- Compuware Corp., the Detroit-based software company, fell the most in more than two months after issuing an earnings forecast for fiscal 2012 and a preliminary third-quarter profit that both missed analysts’ estimates.
The company expects net income of 40 to 42 cents a share for the year ending March 31, and will report earnings of about 10 cents for the third quarter ended Dec. 31, according to a statement today. Compuware had been expected to earn 55 cents for the year and 15 cents for the third quarter, according to the average estimates by six analysts tracked by Bloomberg.
Compuware fell 6.5 percent to $7.74 in Nasdaq trading at noon New York time, after declining as much as 10 percent, the most since Oct. 21. The company is expected to make a fuller report of third-quarter results on Jan. 26.
Compuware said revenue from mainframe-license fees declined 10 percent in the third quarter compared with the year-earlier period. Growth in both that area and in application performance management “did not reach our high expectations,” according to the statement.
Compuware provides infrastructure software. Products include mainframe applications, collaboration technology, project management tools, and application performance management services for cloud and mobile applications.
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--Editors: Jeffrey Tannenbaum
#<225440.2951704.2.1.95.14779.25># -0- Jan/17/2012 17:10 GMT
To contact the reporter on this story: Alexander Yablon in New York at ayablon@bloomberg.net
To contact the editor responsible for this story: Ville Heiskanen at vheiskanen@bloomberg.net
