Compuware Earnings: Here’s Why Shares are Up Now
Compuware Corporation (NASDAQ:CPWR) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.27%.
Compuware Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.30 in the quarter versus EPS of $0.12 in the year-earlier quarter.
Revenue: Decreased 9.83% to $239.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Compuware Corporation reported adjusted EPS loss of $0.30 per share. By that measure, the company missed the mean analyst estimate of $0.05. It beat the average revenue estimate of $239.68 million.
Quoting Management: “While our fourth quarter results were a disappointment, as a large number of deals we had anticipated closing were pushed into the new fiscal year, we made great strides executing on our strategic initiatives to transform the company while positioning Compuware for improved profitability in 2014 and 2015,” said Compuware CEO Bob Paul. “Additionally, we are making good on the shareholder value creative actions announced in January, as we have declared our first quarterly dividend, filed the S-1 registration statement with the SEC for the Covisint IPO and raised our cost-reduction expectations to $80-$100 million in the next two years.”
Key Stats (on next page)…