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Compuware shares jump after 4th-quarter earnings beat Wall Street's forecast
(AP) 02:55:31 PM (ET), Friday, May 21, 2010 (SEATTLE)
Compuware Corp. shares jumped Friday after the technology-management software maker reported fiscal fourth-quarter earnings that beat Wall Street's expectations.

Shares in the Detroit-based software maker gained 65 cents, nearly 9 percent, to $7.92 in afternoon trading.

Compuware said late Thursday that earnings for the January-March quarter fell 33 percent to $37.4 million, or 16 cents per share, from $48.4 million, or 20 cents in the same period a year ago.

But that was still better than expected. Analysts surveyed by Thomson Financial had predicted earnings of about 14 cents per share.

Revenue slipped 9 percent to $230 million from $253.4 million in the year-ago quarter, barely less than the $230.9 million analysts had forecast.

Excluding products Compuware has sold off, its software license fees rose in the quarter.

For the full year, Compuware said its net income edged up 1 percent to $140.8 million, or 60 cents per share, and revenue fell 18 percent to $892.2 million.


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* Good stuff coming from Detroit. *

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