MINNEAPOLIS, Jan 27, 2010 (BUSINESS WIRE) — FICO (NYSE:FICO), announced financial results for its first fiscal quarter ended December 31, 2009. The company reported first quarter revenues of $151.5 million in fiscal 2010 versus $163.5 million reported in the prior year period. The prior year period included $5.4 million in revenue associated with the divested telecom product lines.
Effective October 1, 2009, the company implemented an organizational restructuring that consolidated the operating segment structure from four segments to three, in which the myFICO(R) business-to-consumer (B2C) service is now a component of the Scores segment and the Professional Services segment has been combined with the applicable segment to which the services relate. Fiscal 2009 revenues have been restated to reflect the new business structure. “We continue to see signs of improvement in the marketplace, including a stabilization of our recurring revenue and continued strength in bookings,” said Mark Greene, chief executive officer. “These conditions reinforce our confidence that we’ve got the right strategy to put the company on the path to growth.” FICO reported a decline in revenue for all its business units, however bookings for first quarter of $60 million are up 14 percent from prior year. Source: firstname.lastname@example.org