FICO reported revenues of $235.3 million for the quarter as compared to $219.6 million reported in the prior year period, up 7%.
“We’re off to a good start in 2018, as we continue to expand our recurring revenue base,” said Will Lansing, chief executive officer. “Our Scores segment is performing particularly well, as we drive growth in both B2B and B2C.”
Revenues for the first 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 $141.4 million in the first quarter compared to $134.8 million in the prior year quarter, an increase of 5%, due primarily to increased transactional revenue in Customer Communications Services.
- Scores revenues, which include the company’s business-to-business (B2B) scoring solutions and associated professional services as well as business-to-consumer (B2C) service, were $69.9 million in the first quarter compared to $59.4 million in the prior year quarter, an increase of 18%. B2B revenue increased 13% and B2C revenue increased 27% from the prior year quarter.
- Decision Management Software revenues, which include Blaze Advisor®, Xpress Optimization and related professional services, were $24.0 million in the first quarter compared to $25.4 million in the prior year quarter, a decrease of 6%, due primarily to decreased license sales of Blaze Advisor®
Non-GAAP Net Income for the quarter was $41.1 million vs. $33.5 million in the prior year period. Non-GAAP EPS for the quarter was $1.30 vs. $1.03 in the prior year period. Free cash flow for the quarter was $24.7 million vs. $28.0 million in the prior year period. The Non-GAAP financial measures are described in the financial table captioned “Non-GAAP Results” and are reconciled to the corresponding GAAP results in the financial tables at the end of this release.
The company expects a reduction in tax expense of $14.0 million as a result of a tax rate change from tax reform legislation.
** Includes excess tax benefits associated with stock compensation of $20.0 million, or $0.64 per share, and a full-year tax charge of $17.0 million, or $0.54 per share, associated with tax reform legislation.
*** The EPS numbers do not cross foot due to updated guidance assuming FY diluted share count of 31.3 million shares.The Non-GAAP financial measures are described in the financial table captioned “Reconciliation of Non-GAAP Guidance.”
Source: FICO Press Release