FICO (NYSE:FICO), has announced results for its fourth fiscal quarter ended September 30, 2020 indicating an outstanding achievement of revenues of revenue of $374 million vs. $305 million in prior year, up 22%
Net income for the quarter totaled $59.1 million, or $1.98 per share, versus $54.6 million, or $1.80 per share, in the prior year period. Fourth quarter results included a previously-announced pre-tax charge of $41.9 million for restructuring and impairment losses, or $1.01 per share after tax. Net cash provided by operating activities for the quarter was $136.2 million versus $95.4 million in the prior year period.
The company reported revenues of $374.4 million for the quarter as compared to $305.3 million reported in the prior year period.
“We had a remarkably strong finish to another great year,” said Will Lansing, chief executive officer. “Even in a period of economic volatility, we delivered record revenues, net income and cash flows.”
Revenues for the fourth quarter of fiscal 2020 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 $168.2 million in the fourth quarter, compared to $149.9 million in the prior year period, an increase of 12%, due primarily to increased license sales in our Falcon Fraud, Debt Manager, and Strategy Director products.
- Scores revenues, which include the company’s business-to-business (B2B) scoring solutions and associated professional services, and business-to-consumer (B2C) service, were $152.7 million in the fourth quarter, compared to $115.9 million in the prior year period, an increase of 32%. B2B revenue increased 27%, driven largely by higher mortgage origination volumes and a one-time royalty true-up. B2C revenue increased 45% from the prior year period due to higher volumes at myFICO.com, as well as through our partners.
- Decision Management Software revenues, which include Blaze Advisor®, Xpress Optimization, Decision Management Platform and related professional services, were $53.5 million in the fourth quarter compared to $39.5 million in the prior year period, an increase of 36%, due primarily to license sales and SaaS subscription revenues.
Source: FICO Earnings Release