DETROIT Michigan software giant Compuware Corp said Thursday it plans to report revenue of $337 million when it posts its fourth-quarter results May 12 some $10 million more than Wall Street expected.
The news marks the first time in two years that Compuware has surpassed the Streets expectations. On Friday, Compuwares stock was trading up about 5 percent.
“We are a sleeping giant that has woken up,” said Peter Karmanos Jr., Compuware’s chairman and chief executive officer. “We are going out in the market and capturing the attention of our customers because of the performance of our products. . . . We have some kick ass products.”
Karmanos expected much more good financial news in fiscal 2005 including:
Completion of a couple million dollars worth of acquisitions with some of the $760 million the company has in cash.
Generate fiscal 2005 revenues 5 to 10 percent higher than the previous fiscal year, when Compuware posted $1.26 billion in revenues.
