Fair Isaac lowers Q2 and full year forecast

Source: Fair Isaac

Fair Isaac Corporation (NYSE:FIC), the leading provider of analytics and decision technology, today announced the preliminary financial results for its second fiscal quarter ended March 31, 2007 and revised guidance for the third fiscal quarter ending June 30, 2007 and full fiscal year 2007, both of which are lower than the company’s previously announced guidance.

Second quarter results are preliminary, subject to the company's management and independent auditor completing their customary quarterly closing and review procedures.

Preliminary Second Quarter Fiscal 2007 Results

The company expects to report second quarter revenues in the range of $200 to $202 million in second quarter of fiscal 2007 versus $208.2 million reported in the prior year period. This is lower than the second quarter revenue guidance of $215 million provided by the company last quarter. Net income for the second quarter of fiscal 2007 is expected to total in the range of $20 to $22 million, or $0.35 to $0.37 per diluted share, versus $27.0 million, or $0.40 per diluted share, reported in the prior year period. This is lower than the second quarter GAAP earnings per diluted share guidance of $0.48 provided last quarter.

Revised Third Quarter and Full Year Fiscal 2007 Guidance

Total revenues are expected to be $195 to $200 million for the third quarter of fiscal 2007 with GAAP earnings of approximately $0.33 to $0.38 per share. Full year fiscal 2007 revenue is now expected to be $795 to $805 million with GAAP earnings per diluted share of $1.55 to $1.65. The previously announced sale of our mortgage product line accounts for approximately $7 million to $8 million of the reduced revenue guidance. This full year fiscal 2007 guidance is lower than the guidance of $870 million in revenue and GAAP earnings per diluted share of $2.15 provided earlier by the company.

Comments: (0)