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Article: Troubled Farmington Hills, Mich.-Based Software Firm Takes Another Hit.(Knight Ridder/Tribune Business News)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- July 18, 2000
- Author:
CopyrightCOPYRIGHT 2000 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Jul. 19--Compuware Corp. continued to take a beating Tuesday when it posted a 63-percent drop in net income for the last three months.
The Farmington Hills computer software and services company also warned Wall Street that it foresees another nine months of weak sales in the software market, and it will cut costs $100 million to $150 million internally. Company officials did not say if those cuts would include a reduction in the work force.
Compuware's net income has fallen short of analysts expectations for six months. The company is smarting after revenues from Y2K business leveled off. Net income was $23.6 million for the three months ended June 30, ...