|By Business Wire||
|April 3, 2013 04:03 PM EDT||
Compuware Corporation (Nasdaq: CPWR), the technology performance company, today announced preliminary financial results for its fourth quarter ended March 31, 2013. Preliminary results indicate that Compuware’s non-GAAP earnings per share will be between $.05 and $.06 for the quarter and $.26 and $.28 for the year, before charges for advisory fees, restructuring and any potential write-down of intangible assets. Total revenue is anticipated to be in the range of $237 million to $241 million for the quarter and $942 million to $946 million for the year.
“During the quarter, a large number of deals we had anticipated closing in Q4 were pushed into the new fiscal year, significantly impacting our results,” said Compuware CEO Bob Paul. “This deal delay occurred because many clients and prospects were unable to formalize their IT budgets during the period. In fact, we expect 75% to 80% of these pushed deals to close in the next fiscal year.
“I want to reiterate our commitment to maximizing shareholder value and executing the value-creation actions we announced on January 25, which include the complete spin-off of Covisint, the issuing of an annual $0.50 dividend and significant expense reductions. As for our expense-reduction effort, we are already well ahead of expectations and—through our business optimization initiative—we have identified more cost-saving opportunities that will boost our cost-reduction total to between $80 and $100 million over the next two years. The Board continues to be committed to carefully reviewing and evaluating any credible offer it receives that delivers full value to its shareholders, working together with its financial advisors Goldman, Sachs & Co. and Allen & Company.
“While we are very disappointed in our Q4 results, we nonetheless remain confident that the actions we have taken to improve our competitive position and drive profitable growth are working and will enable us to fully unleash the value of this company.”
Final results, including GAAP and non-GAAP revenue and earnings per diluted share and a reconciliation of GAAP to non-GAAP financial measures, will be released on May 21, 2013.
Compuware Corporation, the technology performance company, provides software, experts and best practices to ensure technology works well and delivers value. Compuware solutions make the world’s most important technologies perform at their best for leading organizations worldwide, including 46 of the top 50 Fortune 500 companies and 12 of the top 20 most visited U.S. web sites. Learn more at: http://www.compuware.com.
Preliminary Results Conference Call Information
Compuware will host a conference call to discuss these results today at 5p.m. Eastern time. To join the conference call, interested parties in the United States should call 800-288-8968. For international access, the conference call number is +1-612-332-0345. No password is required.
A conference call replay will also be available. The United States replay number will be 800-475-6701, and the international replay number will be +1-320-365-3844. The replay passcode will be 287648. Additionally, investors can listen to the conference call via webcast by visiting the Compuware Corporation Investor Relations web site 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. When we use words such as “may”, “might”, “will”, “should”, “believe”, “expect”, “anticipate”, “estimate”, “continue”, “predict”, “forecast”, “projected”, “intend” or similar expressions, or make statements regarding our future plans, objectives or expectations, we are making forward-looking statements. These forward-looking statements represent our outlook only as of the date of this release. Forward-looking statements are based upon assumptions as to future events or our future financial performance that may not prove to be accurate. 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.
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. The reasons for these differences include changes that occur in our continually changing business environment, and certain additional factors, including risks relating to the following: a substantial portion of our mainframe segment revenue is dependent on our customers’ continued use of International Business Machines Corporation and IBM-compatible products; changes in the financial services industry could have a negative impact on our revenue and margins; our product revenue is dependent on the acceptance of our pricing structure for software licenses, maintenance services and web performance services; our business could be negatively affected as a result of actions of shareholders or others; and economic uncertainties or slowdowns may reduce demand for our products and services, which may have a material adverse effect on our revenues and operating results; as well as the other risk factors included in Item 1A, "Risk Factors" to the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2012, and in its quarterly reports on Form 10-Q for its fiscal year 2013 quarterly periods, as filed with the Securities and Exchange Commission and available at http://www.sec.gov. Readers are cautioned to consider these factors when relying on such forward-looking information.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) and Yahoo! Inc. (Nasdaq: YHOO) have entered into a definitive agreement under which Verizon will acquire Yahoo's operating business for approximately $4.83 billion in cash, subject to customary closing adjustments. Yahoo informs, connects and entertains a global audience of more than 1 billion monthly active users** -- including 600 million monthly active mobile users*** through its search, communications and digital content products. Yahoo also co...
Jul. 27, 2016 08:00 AM EDT Reads: 584
"Avere Systems is a hybrid cloud solution provider. We have customers that want to use cloud storage and we have customers that want to take advantage of cloud compute," explained Rebecca Thompson, VP of Marketing at Avere Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 27, 2016 08:00 AM EDT Reads: 2,075
Choosing the right cloud for your workloads is a balancing act that can cost your organization time, money and aggravation - unless you get it right the first time. Economics, speed, performance, accessibility, administrative needs and security all play a vital role in dictating your approach to the cloud. Without knowing the right questions to ask, you could wind up paying for capacity you'll never need or underestimating the resources required to run your applications.
Jul. 27, 2016 08:00 AM EDT Reads: 461
"We view the cloud not really as a specific technology but as a way of doing business and that way of doing business is transforming the way software, infrastructure and services are being delivered to business," explained Matthew Rosen, CEO and Director at Fusion, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 27, 2016 07:45 AM EDT Reads: 1,562
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...
Jul. 27, 2016 06:30 AM EDT Reads: 1,811
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
Jul. 27, 2016 06:30 AM EDT Reads: 1,457
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
Jul. 27, 2016 04:45 AM EDT Reads: 2,264
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 27, 2016 04:30 AM EDT Reads: 1,303
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
Jul. 27, 2016 04:30 AM EDT Reads: 2,495
Large scale deployments present unique planning challenges, system commissioning hurdles between IT and OT and demand careful system hand-off orchestration. In his session at @ThingsExpo, Jeff Smith, Senior Director and a founding member of Incenergy, will discuss some of the key tactics to ensure delivery success based on his experience of the last two years deploying Industrial IoT systems across four continents.
Jul. 27, 2016 04:00 AM EDT Reads: 1,562
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
Jul. 27, 2016 03:45 AM EDT Reads: 1,184
With over 720 million Internet users and 40–50% CAGR, the Chinese Cloud Computing market has been booming. When talking about cloud computing, what are the Chinese users of cloud thinking about? What is the most powerful force that can push them to make the buying decision? How to tap into them? In his session at 18th Cloud Expo, Yu Hao, CEO and co-founder of SpeedyCloud, answered these questions and discussed the results of SpeedyCloud’s survey.
Jul. 27, 2016 03:30 AM EDT Reads: 966
Organizations planning enterprise data center consolidation and modernization projects are faced with a challenging, costly reality. Requirements to deploy modern, cloud-native applications simultaneously with traditional client/server applications are almost impossible to achieve with hardware-centric enterprise infrastructure. Compute and network infrastructure are fast moving down a software-defined path, but storage has been a laggard. Until now.
Jul. 27, 2016 03:15 AM EDT Reads: 1,766
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Jul. 27, 2016 02:45 AM EDT Reads: 2,278
"This week we're really focusing on scalability, asset preservation and how do you back up to the cloud and in the cloud with object storage, which is really a new way of attacking dealing with your file, your blocked data, where you put it and how you access it," stated Jeff Greenwald, Senior Director of Market Development at HGST, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 27, 2016 02:45 AM EDT Reads: 1,530