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Profit Doubles at Compuware

The company blows away earnings estimates.
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Shares of Compuware (CPWR) shot higher in after-hours trading Tuesday following the company's announcement that its third-quarter profit nearly doubled, easily surpassing analysts' estimates.

The business software maker said net income rose to $41.7 million, or 11 cents a share, from $21.8 million, or 6 cents a share, a year earlier.

Revenue rose to $330.5 million from $318.2 million a year ago.

A Thomson First Call analyst survey had expected the company to earn 6 cents a share on revenue of $319.7 million.

The company's shares moved nearly 15% higher to $6.50 in recent after-hours trading.

Compuware said software license fees rose to $99 million from $80.7 million a year earlier, while maintenance fees rose to $108.7 million from $102.9 million.

However, revenue from professional services fell to $122.9 million from $134.6 million a year earlier.