DETROIT – Software maker Compuware Corp on Wednesday posted first-quarter results above market estimates, helped by a 30 percent jump in software license fees revenue. On Thursday, the company?s stock was nearly 5 percent higher on Wall Street.
Compuware posted first-quarter earnings of $34.7 million, or 13 cents a share, compared with $189,000, or breakeven per share, in the year-ago period. Total revenue rose 7 percent to $298.6 million.
Software license fees revenue jumped to $61.4 million from $47.3 million a year earlier. Maintenance fees revenue rose 11 percent to $126.5 million.
Analysts on average expected the company to earn 10 cents a share, before items, on revenue of $294.6 million, according to Reuters Estimates.
“We achieved substantial operational improvements in the first phase of the Compuware 2.0 initiative in Q1,” said Compuware President and Chief Operating Officer Bob Paul.
“These near-term accomplishments supported year-over-year growth on the top- and bottom-lines, as well as increased sales for some of our most strategic products. As we continue to roll out Compuware 2.0, we will maintain our focus on achieving quarterly goals, while capitalizing on Compuware’s substantial opportunities for long-term, breakout growth.”
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