DETROIT ? Wall Street likes Compuware much better this week after the information-technology and business software company forecast a strong fiscal fourth quarter.
Compuware forecast a larger profit and greater revenue than analysts had expected for the March quarter, and shares gained 80 cents, or 11.4 percent, to $7.79 in afternoon trading.
The company expects $100 million in software license revenue. Banc of America analyst Kirk Materne said that is about $22 million more than he expected, and Compuware’s maintenance revenue forecast was also better than expected.
Materne said Compuware finished fiscal 2008 with a solid quarter. In the new fiscal year, he said the company needs to become more consistent, reporting growing sales and reaping the benefits of cost cuts.
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