MINNEAPOLIS – FICO, maker of the popular credit score, reported an almost doubling in net income for its fiscal first quarter, to $30 million, from $16 million for the first quarter a year ago.
The maker of credit analytics reported a 9% increase in revenue to $170.3 million.
Applications revenues, which include the company’s preconfigured Decision Management applications and associated professional services, were $110.2 million in the first quarter compared to $97.6 million in the prior year quarter, an increase of 13%. This was attributed primarily to an increase in revenue from Fraud Management solutions, slightly offset by a decline in Customer Management solutions and Marketing solutions.
Scores revenues, which include the company’s business-to-business scoring solutions and associated professional services, and the myFICO business-to-consumer service, were $42.5 million in the first quarter compared to $40.8 million in the prior year’s quarter, an increase of 4%, due to our business-to-business scoring solutions.
Tools revenues, which include Blaze Advisor, Xpress Optimization and related professional services, were $17.6 million in the first quarter compared to $17.5 million in the prior year’s quarter, an increase of 1%, primarily due to an increase in Optimization license sales during the quarter.
