Industry News

Fair Isaac boosts earnings

Revenue for credit scoring company jumps as well

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Fair Isaac Corp., a developer of credit-scoring systems, today reported first-quarter revenues of $202.8 million in fiscal 2006 versus $195.5 million reported in the prior-year period. Net income for the first quarter of fiscal 2006 totaled $28.5 million or $0.43 per diluted share for the company, whose FICO credit scores figure decisively in real estate and other loans. First-quarter fiscal 2006 results included compensation expense of approximately $6.1 million after-tax, or $0.09 per diluted share, because the company began expensing stock options in the first quarter as required by a regulation, Statement of Financial Accounting Standards No. 123(R). Excluding the effect of this expense, net income for the first quarter of fiscal 2006 was $34.6 million, or $0.52 per diluted share, on a non-GAAP basis. Net income for the first quarter of fiscal 2005 totaled $27.9 million, or $0.36 per diluted share. First-quarter fiscal 2005 results were reduced by $0.03 per diluted share from th...