FICO (NYSE:FICO) announced results for its second fiscal quarter ended March 31, 2017.
Second Quarter Fiscal 2017 GAAP Results: Net income for the quarter totaled $25.1 million, or $0.78 per share, versus $23.1 million, or $0.72 per share, reported in the prior year period. The current quarter earnings include a reduction to income tax expense of $3.6 million or $0.11 per share, associated with the adoption of FASB Accounting Standards Update No. 2016-09 (“ASU 2016-09”). Net cash provided by operating activities for the quarter was $66.4 million versus $41.7 million in the prior year period.
Second Quarter Fiscal 2017 GAAP Revenue: The company reported revenues of $228.4 million for the quarter as compared to $206.7 million reported in the prior year period, an increase of 10.5%.
- Applications revenues, which include the company’s preconfigured decision management applications and associated professional services, were $134.3 million in the second quarter, compared with $121.9 million in the prior year quarter, an increase of 10%. This was due to increased license sales in Fraud Management Solutions, increased transactional volumes in Customer Communications Services and Originations Solutions.
- Scores revenues, which include the company’s business-to-business (B2B) scoring solutions and associated professional services, and business-to-consumer (B2C) service, were $65.4 million in the second quarter, compared to $61.1 million in the prior year quarter, an increase of 7%. B2B revenue increased 2% and B2C revenue increased 16% from the prior year quarter.
- Decision Management Software revenues, which include FICO® Blaze Advisor®, FICO® Xpress Optimization and related professional services, were $28.6 million in the second quarter compared to $23.6 million in the prior year quarter, an increase of 21%, due primarily to increased license revenues of Blaze Advisor, and increased services revenues from Decision Optimizer.
“We had another strong quarter across all lines of our business,” said Will Lansing, chief executive officer. “We are increasingly confident in our ability to drive growth and execute against our strategy.”
Source: FICO Press Release