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(EMAILWIRE.COM, February 05, 2009 ) Compuware Corporation (NASDAQ: CPWR) announced financial results for its third quarter ended December 31, 2008.
Compuware reports third quarter revenues of US$268.7 million, compared to US$309.3 million in the same quarter last year. Earnings per share--before restructuring charges--grew to US$0.15 in Q3, compared to US$0.14 per share in the same quarter last year, based upon 246.8 million and 282.5 million shares outstanding, respectively. On a GAAP basis, earnings per share were US$0.14 compared to US$0.13 in the same quarter last year.
Compuware's third third quarter net income--before restructuring charges--was US$37.5 million compared to US$38.8 million in the same period last year. On a GAAP basis, Compuware delivered net income of US$35.0 million in Q3, compared to net income of US$35.6 million in the same quarter last year.
During the third quarter, the company's software license fee revenue was US$60.5 million, compared to US$79.4 million in the same quarter last year. Maintenance fees recognised in the quarter were US$116.6 million, compared to US$120.0 million in Q3 last year. Revenue from professional services in Q3 was US$91.6 million, compared to US$109.9 million in the same quarter last year.
''In a really tough selling environment, Compuware has produced a good Q3, propelling us to a 44 per cent increase in GAAP EPS for the fiscal year-to-date,'' said Compuware President and Chief Operating Officer Bob Paul. ''Moving forward, we will accelerate Compuware's growth by further focusing the business on a differentiated and compelling solution that will position the company as best-in-class.
''IT leaders today face relentless pressure to deliver applications that drive innovation and eliminate costs,'' continued Paul. ''To meet these demands in the face of increasingly complex technologies like SOA, cloud computing and virtualisation, IT leadership desperately needs an end-to-end, business user's view of application performance. Compuware provides that view through Business Service Delivery, our strategic approach to ensuring that applications work well and deliver value. And we're going to achieve breakout growth by doing it better than anyone else in the world.''
Use of Non-GAAP Financial Information
In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, this press release and the accompanying schedules following the release use a non-GAAP measure for EPS, net income and revenue (referred to as product commitments). Compuware management believes the non-GAAP financial information provided in these schedules help investors better understand and assess CompuwareÂ’s ongoing core operations and prospects for the future. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. Management uses both GAAP and non-GAAP information in operating and evaluating its business and as such has determined that it is important to provide this information to investors.
Compuware Corporation
Compuware Corporation makes IT rock around the world, helping CIOs optimise IT performance to achieve business goals. Compuware solutions accelerate the development, improve the quality and enhance the performance of critical business systems while enabling CIOs to align and govern the entire IT portfolio, increasing efficiency, cost control and employee productivity throughout the IT organisation. Founded in 1973, Compuware serves the world's leading IT organisations, including more than 90 percent of the Fortune 100 companies. Learn more about Compuware at http://www.compuware.com.
Issued on behalf of Compuware Asia Pacific
by EBA Communications
For more information, please contact:
Margaret Siu (Compuware): (852) 2102 9679
(email: margaret.siu@compuware.com)
Elaine Chao (EBA): (852) 2537 8022
(email: elaine.chao@ebacomms.com)
This press release was issued through GroupWeb EmailWire.com. For more information on unlimited press release distribution for $99/month, go to http://www.emailwire.com.
Compuware Corporation
Margaret Siu
(852) 2102 9679
margaret.siu@compuware.com
Source: EmailWire.com
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