FICO Reports Lower Earnings On Revenue Decline
MINNEAPOLIS – FICO, provider of the ubiquitous credit score, reported a 1% dip in fiscal third quarter earnings yesterday, based on a similar decline in revenues for the period.
The credit score company, formerly known as Fair Isaac & Co., reported net income of $17.9 million and revenue of $155.3 million for the third quarter. The prior year period included $5 million in revenue associated with telecom product lines, which have since been divested.
For the first three quarters of the year FICO reported a 6% decline in revenues to $450.5 million, and a 1% increase in net income to $48.6 million.