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FICO Fiscal Third Quarter 2013 Revenues up 15%

FICO Q1 Q2  Q3 2013FICO announced financial results for its third fiscal quarter ended June 30, 2013.  The company reported revenues of $183.8 million for the quarter as compared to $160.5 million reported in the prior year period, an increase of 15%.

  • Applications revenues, which include the company’s preconfigured Decision Management applications and associated professional services, were $115.0 million in the third quarter compared to $98.3 million in the prior year quarter, an increase of 17%. This was due to revenue associated with the acquisitions of Adeptra, Ltd. and CR Software.
  • 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 $47.2 million in the third quarter compared to $41.9 million in the prior year quarter, an increase of 12%.  The B2B revenue increased 10% and the B2C revenue increased 21% from the prior year quarter.
  • Tools revenues, which include Blaze Advisor®, Xpress Optimization and related professional services, were $21.6 million in the third quarter compared to $20.2 million in the prior year quarter, an increase of 7%, primarily due to increased revenue from professional services.

“We saw continued strength in our Scores and Tools segments this quarter, fortifying the confidence we have in our overall strategic direction,” said Will Lansing, chief executive officer. “Recurring revenues from our Applications segment were strong again this quarter, though we did experience some disappointing delays in applications license sales to North American banks.  All in all, we remain confident about our prospects, and focused on executing against our plan.”

Outlook:  Revenues for fiscal year 2013 are expected in the range of US$ 755 million to US$ 766 million.

Source:  FICO Earnings Release

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