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Last updated: February 19. 2013 1:40PM - 95 Views

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(AP) Compuware Corp.'s shares plunged Wednesday after the software company reported that its second-quarter profit fell 53 percent and it issued a weak full-year forecast.


Compuware's profit came to $10.6 million, or 5 cents per share, for the period that ended Sept. 30. Revenue fell 15 percent to $220.6 million. Analysts polled by FactSet expected profit of 6 cents per share on revenue of $232.4 million.


The company also said that it expects to earn 36 to 40 cents per share for its 2013 fiscal year, with revenue of $980 million to $995 million. For the year ending in March, analysts had forecast earnings of 43 cents per share on revenue of $1.03 billion.


Still, the company, which is based in Detroit, said it had positive momentum.


Shares fell $1.12, or 12 percent, to close at $8.37. Shares bottomed at $7.97 earlier, their lowest point since February.


Associated Press
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