FICO reported revenues of $184.3 million for the quarter as compared to $190.0 million reported in the prior year period, a decrease of 3% (Fiscal Quarter ending December 31st, 2013)
Applications revenues, which include the company’s preconfigured decision management applications and associated professional services, were $111.9 million in the first quarter compared to $124.7 million in the prior year quarter, a decrease of 10%. This was due to the early termination of a large Marketing Solutions customer in December 2012, and declines in Customer Management and Fraud Banking. A revenue increase in Mobility Solutions partially offset these declines.
Scores revenues, which include the company’s business-to-business (B2B) scoring solutions and associated professional services, and the myFICO® business-to-consumer (B2C) service, were $47.2 million in the first quarter compared to $43.4 million in the prior year quarter, an increase of 9%. The B2C revenue increased 22% and the B2B revenue increased 5% from the prior year quarter.
Tools revenues, which include Blaze Advisor®, Xpress Optimization and related professional services, were $25.2 million in the first quarter compared to $21.9 million in the prior year quarter, an increase of 15%, due to increased license sales of our Optimization solutions.
Outlook: The company is reiterating its previously provided guidance for fiscal 2014. Fiscal 2014 Guidance Revenue $763 million – $773 million; GAAP Net Income $91 million – $94 million; GAAP Earnings Per Share $2.50-$2.60
“Our first quarter results were in line with our expectations, and we remain confident in our strategic direction,” said Will Lansing, chief executive officer. “We drove very solid growth in both our Scores and Tools segments, but we had a soft quarter in Applications license revenue against an exceptionally strong comparable quarter. So our core franchises are healthy, the roll-out of our cloud-based solutions is on track, we remain disciplined about controlling costs, and we are maintaining our sharp focus on cash flow.”
Source: Fico Press Release