The company reported Q4 2018 revenues of $279.8 million for the quarter as compared to $253.2 million reported in the prior year period, up 10.5% (Quarter ending September 30th 2018)
We had a strong finish to our best year ever,” said Will Lansing, chief executive officer. “We delivered double-digit revenue and earnings growth, and are expanding our recurring cloud revenue.”
Revenues for the fourth quarter of fiscal 2018 across each of the company’s three operating segments were as follows:
- Applications revenues, which include the company’s preconfigured decision management applications and associated professional services, were $155.9 million in the fourth quarter, compared to $150.3 million in the prior year quarter, up 4% from the prior year, primarily due to increased transactional revenue in Customer Communication Services and Customer Management Solutions; as well as increased license sales in Banking Fraud Solutions.
- Scores revenues, which include the company’s business-to-business (B2B) scoring solutions and associated professional services, as well as its business-to-consumer (B2C) service, were $92.7 million in the fourth quarter, compared to $72.0 million in the prior year quarter, an increase of 29%. B2B revenue increased 38% and B2C revenue increased 12% from the prior year quarter.
- Decision Management Software revenues, which include Blaze Advisor®, Xpress Optimization and related professional services, were $31.2 million in the fourth quarter, flat with the prior year quarter.
For the full fiscal year, we recorded $1,032 million of revenue, up 11% from 2017. We delivered $50 million of GAAP net income and GAAP earnings of a $1.64 per share. Results that included a number of one-time puts and takes that Mike will describe.
On a non-GAAP basis for the $1.89 earnings per share was up 14% from last year. Now we were able to drive this growth, as we continue our shift to the cloud. In our software business, we were able to grow revenues by 4% for the full year, even as up front license sales were down 10%. This was possible because the significant bookings we’ve been reporting led to an increase in recurring revenues of 9% in software.
We had a strong year with our compliance, customer communications, originations and customer management solutions. We’re seeing opportunities with these solutions and areas we haven’t served in the past. In many cases, because the cloud-enabled solutions are increasing our addressable market, these solutions have been refreshed over the last few years and are now driving growth.
Source: FICO Earnings Release