MINNEAPOLIS – Fair Isaac & Co., provider of the ubiquitous FICO credit score, said net income for its fiscal second quarter ending March 31 fell 37% amid a major restructuring.
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The company reported second quarter earnings of $13.5 million, or 28 cents a share, down from $21.4 million, or 37 cents a share, for the same period last year.
The company recently began to sell assets and lay off employees in order to reduce expenses.
Revenue was up 1% to $193 million.
For the first six months of its fiscal year, Fair Isaac reported a 1% decline in revenue, to $383.3 million, and a 36% drop in net income, to $33.7 million, or 67 cents a share.
