Fair Isaac Reports LowerEarnings
MINNEAPOLIS - (07/28/06) -- Fair Isaac Corp., the provider ofthe FICO credit scores, said Thursday that net income for itsfiscal third quarter ended June 30 declined by 29%, to $26 million,or 40 cents a share, due mainly to share-based compensation expenseand restructuring costs. The company said third quarter resultsincluded a $6.7 million after-tax expense for share-basedcompensation, which included stock options and purchases under itsEmployee Stock Purchase Plan, and a $3.4 million charge forpreviously announced restructuring. Third quarter revenues were upless than 2% to $207.1 million. The company also said it expects toincur a fourth quarter charge of about $8.4 million related tovacating of real estate. Through the first three quarters of theyear, Fair Isaac reported a 4% rise in revenues to $618.1 million,and an 18% drop in net income to $81.4 million, or $1.23 a share,compared to the first nine months last year.