Compuware Whiffs FY Q1; President Resigns

Compuware (CPWR) Tuesday afternoon announced that it expects to report revenue for its fiscal first quarter ended June of $278 million, including $47 in software license revenue, $113.5 million in maintenance revenue and $117.5 million in professional services revenue. The Street was looking for $301.6 million.

The company said it expects to break even in the quarter; the Street had been looking for a profit of 10 cents.

The company also said President and Chief Operating Officer of Products Jank Jallos has resigned effectively immediately.

CEO Peter Karmanos said in a statement that he is “extremely disappointed” in the quarter, noting that the company’s restructuring moves “distracted sales efforts.” He said EPS was hit by 4 cents a share in restructuring costs.

In after hours trading, Compuware was down $2.26, or almost 19%, to $9.91.

CPWR 1-yr chart: