Compuware Estimates Meeting or Exceeding $.33 Analysts' Consensus
PR Newswire - January 10, 2000 16:31
Compuware to Host Conference Call Today at 5 p.m. Eastern Time
FARMINGTON HILLS, Mich., Jan. 10 /PRNewswire/ -- Compuware Corporation (Nasdaq: CPWR) today announced preliminary financial results for its third quarter ended December 31, 1999. Compuware will host a conference call today at 5 p.m. ET. The conference call telephone number is 800-988-9774. The password is COMPUWARE.
(Photo: newscom.com
Compuware estimates its third quarter revenues will be in a range of $620- to-$633 million. Software license fee revenues are estimated to be in a range of $245-to-$250 million. Maintenance revenues are estimated to be in a range of $110-to-$113 million. Revenues from professional services are estimated to be in a range of $265-to-$270 million. Earnings per share (diluted computation before amortization expense) are estimated to meet or exceed the $.33 analysts' consensus.
"We estimate that our total revenues for the quarter will show growth of more than 45 percent compared to the same quarter last year," said Peter Karmanos, Jr., Compuware Chairman and Chief Executive Officer. "We experienced a shortfall in software upgrade revenues that materialized late in the quarter, which we attribute to our clients' reluctance to make system changes prior to the end of the calendar year. Revenues for professional services are expected to be below consensus estimates, yielding a services operating margin of less than 4 percent. We attribute these results to our continuing investment in the future of our professional services division- including continued hiring, retraining and preparation for e-commerce initiatives, and a steadfast refusal to lay off unassigned personnel." Karmanos continued: "Looking ahead, we remain confident that Compuware is extremely well positioned to take advantage of the opportunities that will be provided as our clients begin to deploy large scale e-commerce projects and continue seeking means of making their IT organizations as productive as possible."
Compuware expects to announce final results for its third quarter on Monday, January 24, 2000.
Compuware Corporation
Compuware productivity solutions help 14,000 of the world's largest corporations more efficiently maintain and enhance their most critical business applications. Providing immediate and measurable return on information technology investments, Compuware products and services improve quality, lower costs and increase the speed at which systems can be developed, implemented and supported. Compuware employs approximately 15,000 information technology professionals worldwide. With trailing 12-month revenues of more than $1.9 billion, Compuware is a world leader in the practical implementation of enterprise and e-commerce solutions. For more information about Compuware, please contact the corporate offices at 800-521-9353. You may also visit Compuware on the World Wide Web at www.compuware.com
SOURCE Compuware Corporation
/CONTACT: Christopher M. F. Norris of Compuware Corporation,
248-737-7506/
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