Fair Isaac Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended December 31 2016; Revised Earnings Guidance for the Fiscal 2017
January 31, 2017 at 04:15 pm EST
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Fair Isaac Corporation announced unaudited consolidated earnings results for the first quarter ended December 31 2016. For the quarter, the company reported total revenue was $219.600 million against $200.076 million a year ago. Operating income was $34.927 million against $30.834 million a year ago. Income before income tax was $28.655 million against $23.776 million a year ago. Net income was $37.901 million against $19.241 million a year ago. Diluted earnings per share were $1.16 against $0.59 a year ago. Net cash provided by operating activities was $32.978 million against $50.629 million a year ago. Purchases of property and equipment were $4.319 million against $4.294 million a year ago. Non-GAAP net income was $33.492 million against $32.107 million a year ago. Non-GAAP diluted earnings per share were $1.03 against $0.99 a year ago. The free cash flow for the quarter was $28 million, which included the impact of the new accounting standard. On a comparable basis, free cash flow was $46 million in the prior year. Total debt was $621 million.
The company revised earnings guidance for the fiscal 2017. The company now expects revenue of $925 million. GAAP net income expected $126 million or $3.92 per diluted share against $109 million or $3.39 per diluted share of previous guidance. Non-GAAP net income expected $158 million or $4.92 million a year ago. Expected operating margin to be between 26% to 28% for the full year. The company expected the unaffected or normalized tax rate to be about 29% to 30% for the full year before any impact of the accounting standard. Free cash flow expected $168 million.
Fair Isaac Corporation (FICO) specializes in the development and marketing of online software solutions for businesses and financial institutions. Net sales break down by family of products as follows:
- consumer credit rating and risk assessment solutions (51.3%);
- decision analysis and optimization solutions (48.7%).
Net sales are distributed geographically as follows: Americas (85%), Europe/Middle East/Africa (9.4%) and Asia/Pacific (5.6%).
Fair Isaac Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended December 31 2016; Revised Earnings Guidance for the Fiscal 2017