Fair, Isaac and Company, Incorporated announced record results for the second fiscal quarter ended March 31, 2001. Revenues for the quarter grew 11% to $81.1 million from $73.3 million in the second quarter of fiscal 2000.
Net income for the second fiscal quarter reached $10.7 million, or $0.71 per share (diluted), up 49% compared with net income of $7.1 million, or $0.49 per share (diluted), after restructuring charges, for the second quarter of last year.
Revenues for the six-month period ended March 31, 2001 totaled $158.2 million, an increase of 10% compared with $143.4 million for the first half of fiscal 2000. Net income for the six-month period reached $19.5 million, up 61% from $12.1 million, after restructuring charges and non-recurring expenses, for the first half of fiscal 2000.
“We delivered exceptional earnings growth this quarter as a result of productivity gains from our netsourced business model,” said Tom Grudnowski, Fair, Isaac CEO. “In addition to achieving record revenues and profitability, we saw solid demand for our decision technology in our core markets. Since businesses use our solutions to make more profitable decisions, our solutions are in demand even in the current difficult business climate.
“One of the highlights of the second quarter was our successful launch of our myFICOÂ®.com Web site. Working in partnership with Equifax, we made available to consumers — for the first time ever — their FICOÂ®(R) credit risk scores, effectively expanding our premier brand into the consumer market. Demand has been strong, and we are very pleased with the market’s response to this new service,” said Grudnowski.
About Fair, Isaac
Fair, Isaac and Company is a global provider of customer analytics and decision technology. Widely recognized for its pioneering work in credit scoring, Fair, Isaac revolutionized the way lending decisions are made. Today the company helps clients in multiple industries increase the value of customer relationships. Fair, Isaac has made the Forbes list of the top 200 U.S. small companies eight times in the last nine years and is headquartered in San Rafael, California.
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