This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Compuware Provides Update To Its Shareholders

Stocks in this article: CPWR

Compuware Corporation (Nasdaq:CPWR), the technology performance company, today provided an update on a number of initiatives underway to continue to build a stronger Compuware, position the Company for growth, and boost shareholder value. It also announced that it has extended the deadline for submitting nominees for election to its Board of Directors until January 10, 2014. The Company said that it still intends to hold its 2013 annual meeting in the first quarter of 2014.

“Over the past few weeks we have been engaging in a dialogue with our major shareholders about enhancing our Board,” said Bob Paul, CEO and President of Compuware. “We have identified a number of excellent independent director candidates and will be finalizing our slate in the coming weeks. We continue to be firmly committed to enhancing our competitive position by delivering business critical technology solutions to our customers and creating shareholder value as we have done over the past year as we pursued our clearly articulated transformation initiatives.”

In 2013, Compuware has:

  • Announced strong second quarter 2013 results, with non-GAAP EPS of 13 cents per share, up 62.5 percent year-over-year and GAAP EPS of 7 cents per share, up 40 percent year-over-year (see press release for the 2Q 2013 for a reconciliation between non-GAAP and GAAP results).
  • In 2Q 2013, posted double-digit total revenue and license growth in the APM business unit while dramatically improving APM’s contribution margin by 195 percent .
  • Made significant progress towards stabilizing the mainframe business.
  • Completed the IPO of Covisint -- Covisint’s second quarter fiscal 2014 revenue increased 19% year-over-year.
  • Launched a two-year cost reduction plan to cut general and administrative and shared services expenses by $80 to $100 million – engaged Alix Partners to assist in this process and is on track to eliminate $40-$45 million of these costs this fiscal year.
  • Announced and began paying an annual dividend of 50 cents per share.
  • Made a number of changes to its leadership team, including the naming of a new CFO of Compuware (Joe Angileri) and Covisint (Enrico Digirolamo).

Paul noted “The current Board, along with management, has been successfully executing the transformation process we started earlier this year. We are excited about the opportunities available to Compuware and its shareholders as we pursue our focused plan of action.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs