FICO Reports Lower Net Income Amid Move To Silicon Valley

Published April 29, 2013, 7:01 p.m. EDT

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Updated August 26, 2020, 10:21 p.m. EDT

1 Min Read

SAN JOSE, Calif. FICO, maker of the ubiquitous credit score, reported a 12% rise in second quarter revenue to $179.3 million but an 8% drop in net income to $18.5 million, after expenses related to the company’s move from Minneapolis to Silicon Valley.

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The company reported a 22% surge in second quarter revenue for its core applications unit to $179.3 million; while revenue for its scores ($44.1 million) and tools ($18 million) operations was relatively flat. For the first two quarters of its fiscal year FICO reported a 12% increase in revenue to $369.3 million; and a 16% decline in net income to $41.9 million.

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