DETROIT – Compuware Wednesday announced its fourth quarter revenue increased by 50 percent on revenues that were essentially flat from the year before.
By the numbers, for the fourth quarter ended March 31 net income reported was $33.9 million, compared to $21.4 million in the fourth quarter last year. Earnings per share (diluted computation) were 9 cents, compared to 6 cents in the same quarter last year, based upon 387.2 million and 379.2 million shares outstanding, respectively.
For the year, net income reported was $49.8 million, down from more than 50 percent from the $103.1 million reported last year. Revenues for the year also were down to $1.27 billion from $1.38 billion dollars in 2003.
“These great results confirm that Compuware is in an outstanding position to achieve healthy, sustainable growth,” said CEO Peter Karmanos Jr. “Looking forward, we are convinced that the addition of Changepoint to our IT solutions portfolio will dramatically enhance our business prospects, allowing us to demonstrate directly to CIOs the unique, unrivaled results we can deliver to their organizations.”
The news, announced after the market closed, propelled Compuwares stock price up about 2 percent to close at $7.38 a share.
