Compuware Earnings: Here’s Why Shares are Up Now
Compuware Corporation (NASDAQ:CPWR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.09%.
Compuware Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 100% to $0.1 in the quarter versus EPS of $0.05 in the year-earlier quarter.
Revenue: Rose 0.59% to $227.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Compuware Corporation reported adjusted EPS income of $0.1 per share. By that measure, the company beat the mean analyst estimate of $0.05. It beat the average revenue estimate of $226.92 million.
Quoting Management: “The first quarter was a good start to the year, and the results support our fiscal year 2014 forecast,” said Compuware President and CEO Bob Paul. “The quarter was marked by several positive developments, including the improvement of our sales pipelines, the release of key, innovative solution enhancements and the acquisition of several new, strategic customers in critical new growth areas. In addition to establishing strong momentum during the quarter, Q1 was also highlighted by the continued progress of our shareholder-creation initiatives, including the issuance of the company’s first-ever quarterly cash dividend and the furthering of our cost-rationalization efforts. Regarding these efforts, we remain on track to eliminate $45 million in corporate expenses in fiscal year 2014, as part of our larger goal of eliminating a minimum of $80 million to $100 million of these costs from the business over the next two years.”
Key Stats (on next page)…