April 3 Business software maker Compuware Corp estimated fourth-quarter results way below analysts estimates, citing delays in closing several deals.
The company estimated adjusted earnings of 5 cents to 6 cents per share on revenue of $237 million to $241 million in the quarter ended Mar. 31.
Analysts on average were expecting adjusted earnings of 15 cents per share on revenue of $272.8 million, according to Thomson Reuters I/B/E/S.
"A large number of deals we had anticipated closing in Q4 were pushed into the new fiscal year, significantly impacting our results," Compuware CEO Bob Paul said.