.
- Income from operations increases 28 percent year-over-year to $185.1 Million
- FY '09 cash flow from operations of $232.0 million exceeds guidance
- Fiscal discipline reduces year-over-year operating expense by $179.4 million
Compuware Corporation (NASDAQ: CPWR) today announced final financial results for its fourth quarter and fiscal year ended March 31, 2009. ''Our Compuware 2.0 initiative has made Compuware a healthier, more focused business and poised the company for long-term, meaningful growth in earnings,'' said Compuware President and Chief Operating Officer Bob Paul. ''With a smaller and more profitable Professional Services business and a more focused and strategic product portfolio, our potential for success has never been greater. Through our Business Service Delivery approach, we will capitalize on our market leadership position in end-to-end application performance to meet the growing and ever-more critical demand that applications deliver value back to the business.''
Fiscal Year 2009 Results
During the fiscal year ended March 31, 2009, revenues were $1.09 billion, compared to $1.23 billion in the previous fiscal year. Net income was $139.6 million, up from $134.4 million in fiscal 2008. Earnings per share were 55 cents, an increase of 17 percent from 47 cents in fiscal 2008, based upon 252.4 million and 287.6 million shares outstanding, respectively.
During fiscal 2009, software license fees were $219.6 million, and maintenance revenue was $479.5 million. Professional services fees for fiscal 2009 were $391.4 million.
Fourth Quarter Fiscal 2009 Results
During the fourth quarter, revenues were $253.4 million. Net income was $48.4 million, and earnings per share were 20 cents. During the company's fourth quarter, software license fees were $55.5 million, and maintenance fees were $111.6 million. Fourth quarter revenue from professional services was $86.3 million.
Fourth Quarter Fiscal Year 2009 Highlights
During the fourth quarter, Compuware:
- Announced that Partners HealthCare-one of the largest integrated healthcare systems in the U.S.-selected Compuware Vantage for end-to-end visibility into the clinician end-user experience with its electronic medical records (EMR) system.
- Announced that Compuware Vantage and Strobe provide end-to-end visibility into the performance of applications that span both distributed and mainframe transaction systems. This integrated approach to Business Service Delivery enables IT operations and management to quickly predict, isolate and resolve performance challenges from the end-user perspective, increasing internal and external customer satisfaction.
- Jump-started Application Portfolio Management initiatives by offering a pre-configured version of its market-leading IT portfolio management solution, Changepoint.
- Announced that its Covisint subsidiary will provide the VIP Health Initiative with a collaborative network for the secure sharing of sensitive patient information and improved physician collaboration. The VIP Health Initiative was formed by Scripps Mercy Physician Partners, SMPP Services and Physician Partners Management Services to enhance the quality of care delivered while also providing key clinical, administrative and regulatory efficiencies.
- Revealed the results of a study on application performance conducted by Forrester Consulting and commissioned by Compuware, which showed that 64 percent of the respondents believe that poor application performance causes significant financial losses. Despite these losses the study also showed IT takes a costly and reactive approach to Application Performance Management.
Use of Non-GAAP Financial Information
In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, the financial information following this press release uses a non-GAAP measure for revenue. The non-GAAP revenue disclosures provide information on total product commitments. Compuware management believes the non-GAAP financial information provided in this release is useful to investors' understanding and assessment of Compuware's ongoing core operations and prospects for the future. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. Management uses both GAAP and non-GAAP information in operating and evaluating its business and as such has determined that it is important to provide this information to investors.
- Income from operations increases 28 percent year-over-year to $185.1 Million
- FY '09 cash flow from operations of $232.0 million exceeds guidance
- Fiscal discipline reduces year-over-year operating expense by $179.4 million
Compuware Corporation (NASDAQ: CPWR) today announced final financial results for its fourth quarter and fiscal year ended March 31, 2009. ''Our Compuware 2.0 initiative has made Compuware a healthier, more focused business and poised the company for long-term, meaningful growth in earnings,'' said Compuware President and Chief Operating Officer Bob Paul. ''With a smaller and more profitable Professional Services business and a more focused and strategic product portfolio, our potential for success has never been greater. Through our Business Service Delivery approach, we will capitalize on our market leadership position in end-to-end application performance to meet the growing and ever-more critical demand that applications deliver value back to the business.''
Fiscal Year 2009 Results
During the fiscal year ended March 31, 2009, revenues were $1.09 billion, compared to $1.23 billion in the previous fiscal year. Net income was $139.6 million, up from $134.4 million in fiscal 2008. Earnings per share were 55 cents, an increase of 17 percent from 47 cents in fiscal 2008, based upon 252.4 million and 287.6 million shares outstanding, respectively.
During fiscal 2009, software license fees were $219.6 million, and maintenance revenue was $479.5 million. Professional services fees for fiscal 2009 were $391.4 million.
Fourth Quarter Fiscal 2009 Results
During the fourth quarter, revenues were $253.4 million. Net income was $48.4 million, and earnings per share were 20 cents. During the company's fourth quarter, software license fees were $55.5 million, and maintenance fees were $111.6 million. Fourth quarter revenue from professional services was $86.3 million.
Fourth Quarter Fiscal Year 2009 Highlights
During the fourth quarter, Compuware:
- Announced that Partners HealthCare-one of the largest integrated healthcare systems in the U.S.-selected Compuware Vantage for end-to-end visibility into the clinician end-user experience with its electronic medical records (EMR) system.
- Announced that Compuware Vantage and Strobe provide end-to-end visibility into the performance of applications that span both distributed and mainframe transaction systems. This integrated approach to Business Service Delivery enables IT operations and management to quickly predict, isolate and resolve performance challenges from the end-user perspective, increasing internal and external customer satisfaction.
- Jump-started Application Portfolio Management initiatives by offering a pre-configured version of its market-leading IT portfolio management solution, Changepoint.
- Announced that its Covisint subsidiary will provide the VIP Health Initiative with a collaborative network for the secure sharing of sensitive patient information and improved physician collaboration. The VIP Health Initiative was formed by Scripps Mercy Physician Partners, SMPP Services and Physician Partners Management Services to enhance the quality of care delivered while also providing key clinical, administrative and regulatory efficiencies.
- Revealed the results of a study on application performance conducted by Forrester Consulting and commissioned by Compuware, which showed that 64 percent of the respondents believe that poor application performance causes significant financial losses. Despite these losses the study also showed IT takes a costly and reactive approach to Application Performance Management.
Use of Non-GAAP Financial Information
In addition to reporting financial results in accordance with generally accepted accounting principles, or GAAP, the financial information following this press release uses a non-GAAP measure for revenue. The non-GAAP revenue disclosures provide information on total product commitments. Compuware management believes the non-GAAP financial information provided in this release is useful to investors' understanding and assessment of Compuware's ongoing core operations and prospects for the future. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. Management uses both GAAP and non-GAAP information in operating and evaluating its business and as such has determined that it is important to provide this information to investors.
