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
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.