Back on July's Q2 conference call, Compuware
Revenue increased 4.6% to $302 million, while license revenue rose 23.4% to $70 million. Earnings per share, adjusted for restructuring charges, spiked 143% to $0.17 per share.
The Vantage product offering, which manages the delivery of information technology (IT) services, saw license revenue increase 68% to $21.5 million. A 108.4% surge in license revenues for Changepoint, which provides companies with a comprehensive view of their IT assets, contributed another $6.7 million.
Compuware's Covisint division, a web-based platform to help with supply-chain management, continues to grow. Q3 revenue spiked 40% to $10.1 million, a gain of roughly $477,000. Interestingly enough, the company mentioned the possibility of spinning Covisint into its own IPO.
Investors have undoubtedly been excited about web-based software players, bidding up shares for such firms as Salesforce.com
Despite Compuware's rapid, noticeable progress on all fronts, investors should remain cautious. Compuware has a history of volatility, and it's still competing against major rivals such as IBM
Fool contributor Tom Taulli, author of The Complete M&A Handbook, does not own shares mentioned in this article. He is currently ranked 7,115 out of more than 72,000 total participants in CAPS. The Fool's disclosure policy always computes.