Compuware Corp. (CPWR) yesterday reported revenues of $217.9 million in its fiscal second quarter, down 19.2% year over year but up 1.6% sequentially.

Software license fees grew 18.7% year over year to $50.1 million. Maintenance fees declined 12.0% year over year to $109.7 million. Revenues from professional services came in at $58.1 million compared to $102.9 million in the same quarter last year. Compuware plans to have a smaller but more profitable Professional Services Business going forward.

Operating margin improved to 19% from 10% in the year-ago quarter due to a 27% decrease in operating expenses. The company has divested a few of its peripheral products and services (Quality family of products and DevPartner software) thereby reducing unprofitable revenue streams and increasing margins. The company plans to concentrate on its software business and deliver superior end-to-end application performance, which the company calls Business Service Delivery. 

These divestitures have reduced the top-line by

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Today we are featuring top-performing "Technology" equity mutual funds, which invest in equity securities of companies that develop or are part of the advanced technology sector.

Investors can find such funds by checking out the entire list of the Zacks #1 Rank Technology Equity Funds.3 Hi-Tech Choices

Northern Technology (NTCHX) was incepted in April 1996. The investment seeks long-term capital appreciation.

The fund invests more than 25% of its assets in stock of companies that develop, or sell computers, software or peripheral products and have the potential to outperform the market over the next 1 or 2 years. It may invest in other technology businesses represented in the NYSE Arca Tech 100 Index.

Unit holders have to make a minimum initial investment of $2,500 to enter the Zacks#1 Rank ("Strong Buy") fund. Dividends and capital gains, if any,

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In the past year, 99 companies have joined AIM, whilst 196 have left. That’s a net drop of 97. Fewer quoted companies means less fee income for the Stock Exchange. This exodus is hardly good for the reputation of the junior market. It is about time that the LSE removed its head from the sand and took this matter a bit more seriously. Consider the story of OCZ Technology (LON:OZC)…

I am not a shareholder in OCZ. But I did manage to get along to a presentation for its shareholders – of which only one bothered to turn up! I wanted to know whether OCZ could make it on to the short list for my new “bounceback report” – shares that have been dragged down by the market, but which have great underlying businesses (I’ll tell you more on that soon).

Having travelled from America

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