Business Services Industry
Compuware analysts don't like what's behind better numbers.(Compuware Co. higher profits mask lower sales)(Brief Article)(Statistical Data Included)
Crain's Detroit Business, July, 2001 by Roush, Matt
Investors weren't impressed Friday by a 45 percent-plus increase in net income at Compuware Corp. in its first fiscal quarter, which ended June 30. The Farmington Hills software and services company also announced that it had erased its debts. On Friday, Compuware stock fell 11 cents, finishing at $13.25.
Perhaps that reaction is understandable, given analysts' unimpressed reaction to the earnings report. In a conference call with analysts at 5 p.m. Thursday, Compuware President and COO Joseph Nathan said the fact that Compuware could make higher profits out of lower sales shows it is ``well-positioned to benefit from improving economic conditions.'' Analysts pointed to several problems, though, including 2.2 percent year-over-year growth in software...
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