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Cost-cutting helps Compuware stay in black despite revenue fall.(News)
Crain's Detroit Business, May, 2003 by Dietderich, Andrew
Byline: Andrew Dietderich Cost-cutting measures by Compuware Corp. helped the software-maker report a net profit in fiscal 2003, even though revenue dropped by $336 million and the company spent more than $23 million battling IBM Corp. in court. In a conference call last week, the company also said its board had authorized a $125 million stock buyback and said the final cost of its new downtown Detroit headquarters would be $400 million.
A time line wasn't provided for the buyback. Further, Compuware (Nasdaq: CPWR) announced plans for four new initiatives to beef up its sales staff by 30 percent and one to split that staff into two groups after it was unified last year. Peter Karmanos Jr., Compuware co-founder, chairman and CEO, called fiscal 2003 tough...
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