FICO reported revenues of $179.3 million for the quarter as compared to $159.5 million reported in the prior year period, an increase of 12%. Revenues for the second quarter fiscal 2013 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 $117.2 million in the second quarter compared to $96.1 million in the prior year quarter, an increase of 22%. This was due to revenues associated with last year’s acquisition of Adeptra, Ltd. and increases in Fraud Solutions revenues.
- 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 $44.1 million in the second quarter compared to $44.4 million in the prior year quarter, a decrease of 1%.
- Tools revenues, which include Blaze Advisor®, Xpress Optimization and related professional services, were $18.0 million in the second quarter compared to $19.0 million in the prior year quarter, a decrease of 5%, primarily due to fewer license sales recorded during the quarter.
Non-GAAP Net Income for the quarter was $25.4 million vs. $24.1 million in the prior year period. Non-GAAP EPS for the quarter was $0.69 vs. $0.66 in the prior year period. Free cash flow for the quarter was $31.4 million vs. $36.0 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.
“We continue to pursue initiatives that will propel our growth and generate recurring revenue streams within and beyond our core financial services business,” said Will Lansing, chief executive officer. “Despite the softness we saw in license sales this quarter, we remain committed to our guidance for the year, and confident in our long-term strategy to capitalize upon the enormous opportunities we see in Big Data analytics.”
Source: FICO Press Release
