7/17/2002 - Compuware Corporation (Nasdaq: CPWR) today announced financial results for its first quarter ended June 30, 2002.
Compuware reports first quarter revenues of $346.6 million, compared to $450.5 million in the first quarter of the previous fiscal year. Net income was $22.5 million from $34.4 million in the same quarter of fiscal 2002. Earnings per share (diluted computation) were 6 cents compared to 9 cents, based upon 378.5 million and 382.2 million shares outstanding, respectively.
During the company’s first quarter, software license fees were $57.2 million, maintenance fees were $105.7 million and revenue from professional services was $183.8 million.
“At over $95 million for the quarter, our cash flow from operations was good,” said Joe Nathan, President, Compuware Corporation. “Our services business is once again profitable, with significantly improved margins from last quarter. In a demanding market for technology, Compuware is performing reasonably well.”
First Quarter Fiscal Year 2003 Highlights
During the first quarter, Compuware:
Conference Call Information
Compuware will host a conference call to discuss these results at 5:00 p.m. Eastern time (21:00 GMT). Interested parties calling from the United States should call 877-459-8388. For international access, the conference call number is +1-630-395-0017. The password for the conference call is Compuware. A conference call replay will also be available. For more information, visit the Compuware Corporation Investor Relations web site at http://www.compuware.com
Compuware Corporation, a multi-billion dollar company, provides business value through software and professional services that optimize productivity and reduce costs across the application life cycle. Meeting the rapidly changing needs of businesses of all sizes, Compuware’s market-leading solutions improve the quality, ease the integration and enhance the performance of distributed, e-business and enterprise software. For more information about Compuware, please contact the corporate offices at 800-521-9353. You may also visit Compuware on the World Wide Web at http://www.compuware.com
Certain statements in this release that are not historical facts, including those regarding the Company’s future plans, objectives and expected performance, are “forward-looking statements” within the meaning of the federal securities laws. These forward-looking statements represent our outlook only as of the date of this release. While we believe any forward-looking statements we have made are reasonable, actual results could differ materially since the statements are based on our current expectations and are subject to risks and uncertainties. These risks and uncertainties are discussed in the Company’s reports filed with the Securities and Exchange Commission. Readers are cautioned to consider these factors when relying on such forward-looking information. The Company does not undertake, and expressly disclaims any obligation, to update or alter its forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
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