Compuware Puts Positive Spin on Third Quarter Results

Posted 02/01/2010 at 6:10am | by Paul Lilly

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IT software company Compuware reported its third quarter financial results and was quick to point out that total products revenue excluding divested products increased sequentially and year-over-year.

"Compuware's third quarter performance featured solid execution against each of our key growth drivers, as well as strong profitability and cash flow," said Compuware President and Chief Operating Officer Bob Paul. "Our strategy of streamlining operations and increasing focus on areas where we have industry leadership is working, and Compuware is well positioned to deliver progress in financial performance."

Despite Compuware's positive outlook, numbers were down in many areas, largely the result of its Gomex acquisition. For example, software license fees were $52 million compared to $53.1 million (excluding divested products) and $60.5 million as reported in the same quarter one year ago. Revenue from professional services took the biggest hit, checking in at $60.3 million, compared to $91.5 million one year ago.

Maintenance and subscription fees were up, however, totaling $117.6 million in the third quarter compared to $108.5 million (excluding divested products) and $116.6 million as reported one year ago.