Compuware Won't Hit Estimates

Compuware's ( CPWR) second-quarter earnings and revenue will fall short of existing estimates due to weak sales of its software for managing corporate computer systems.

The warnings is the latest from a series of enterprise giants that has included Veritas ( VRTS), PeopleSoft ( PSFT) and Siebel ( SEBL).

Detroit-based Compuware expects to break even on revenue of $286 million in the three months to June 30, with software license revenue totaling $54 million. Analysts surveyed by Thomson First Call were forecasting earnings of 3 cents a share on revenue of $313.8 million.

The stock was halted after closing down a nickel at $6.01 before the news was released. It was pushing $9 as recently as mid-April.

"Regardless of this start, we remain extremely confident that Compuware will achieve the full-year guidance we provided on our most recent conference call," the company said in a release. The current analyst consensus for the full year is for earnings of 21 cents a share on revenue of $1.35 billion, giving the stock a forward price-to-earning ratio of about 28.

More from Technology

Amazon, Microsoft and Google Face Backlash over ICE, Military Deals

Amazon, Microsoft and Google Face Backlash over ICE, Military Deals

As Intel Loses Its CEO, How Well Can It Compete Against Nvidia?

As Intel Loses Its CEO, How Well Can It Compete Against Nvidia?

3 Great Stock Market Sectors Millennials Should Invest In

3 Great Stock Market Sectors Millennials Should Invest In

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

3 Must Reads on the Market From TheStreet's Top Columnists

3 Must Reads on the Market From TheStreet's Top Columnists