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Compuware Corporation Announces Preliminary Financial Results for Fourth Quarter Fiscal Year 2002
Expects Restructuring Charge to be $45-$55 Million
FARMINGTON HILLS, Mich .-- April 3, 2002 -- Compuware Corporation (Nasdaq: CPWR) today announced preliminary financial results for its fourth quarter ended March 31, 2002. Compuware estimates its fiscal 2002 fourth quarter revenues will be in a range of $400-$408 million. Compuware expects software new license revenue to be in a range of $105-$107 million. Maintenance revenue for the quarter is expected to be $106-$107 million. Revenue from Compuware’s Professional Services Division should be in a range of $193-$195 million. Compuware intends to take a one-time goodwill impairment charge of $323 million, net of applicable income taxes. Compuware also announced that the restructuring charge associated with its previously announced reorganization will be in a range of $45-$55 million, pre-tax. This restructuring is expected to reduce annual expenses by approximately $200-$240 million. Earnings per share (diluted computation before amortization expense, goodwill impairment charge and the restructuring charge) are expected to be in a range of $.07-$.08 cents. Compuware will host a conference call to discuss these results today at 5 p.m. Eastern Time (2200 GMT/UTC). The conference call telephone number for calls originating in the United States is 877-459-8388. For those calls originating outside of the United States, the number is +1-415-228-4957. The conference call password is Compuware. A replay will be available shortly after the conclusion of the conference call. To reach the replay from the United States, call 800-337-6538. To reach the replay from outside of the United States, call +1-402-220-9655. Compuware will announce final results for its fourth quarter and fiscal year 2002 and provide guidance on Tuesday, May 7, 2002. Compuware CorporationCompuware 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. Compuware employs more than 12,000 information technology professionals worldwide. 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/.
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