Fair Isaac Corporation (FICO) has reported 3.65 percent fall in profit for the quarter ended Sep. 30, 2016. The company has earned $32.10 million, or $1 a share in the quarter, compared with $33.32 million, or $1.03 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $41.36 million, or $1.28 a share compared with $50.92 million or $1.57 a share, a year ago. Revenue during the quarter went up marginally by 1.32 percent to $235.82 million from $232.76 million in the previous year period. Gross margin for the quarter contracted 270 basis points over the previous year period to 68.49 percent. Total expenses were 80.95 percent of quarterly revenues, down from 82.31 percent for the same period last year. This has led to an improvement of 136 basis points in operating margin to 19.05 percent.
Operating income for the quarter was $44.92 million, compared with $41.17 million in the previous year period.
"We had a strong finish to our fiscal 2016," said Will Lansing, chief executive officer. "We drove continued growth in our Scores segment, and are seeing increased demand for our new decision management products."
Fair Isaac Corp expects revenue to be $925 million for fiscal year 2017. For fiscal year 2017, Fair Isaac Corp forecasts net income to be $109 million. For the fiscal year 2017, Fair Isaac Corp projects adjusted net income to be $158 million. For fiscal year 2017, the company projects diluted earnings per share to be $3.39. For fiscal year 2017, the company expects diluted earnings per share to be $4.92 on adjusted basis.
Operating cash flow improves significantlyFair Isaac Corp has generated cash of $185.23 million from operating activities during the year, up 39.30 percent or $52.25 million, when compared with the last year. The company has spent $27.62 million cash to meet investing activities during the year as against cash outgo of $81.92 million in the last year.
The company has spent $164.98 million cash to carry out financing activities during the year as against cash outgo of $58.64 million in the last year period.
Cash and cash equivalents stood at $75.93 million as on Sep. 30, 2016, down 11.84 percent or $10.19 million from $86.12 million on Sep. 30, 2015.
Working capital drops significantly
Fair Isaac Corp has witnessed a decline in the working capital over the last year. It stood at $21.56 million as at Sep. 30, 2016, down 49.54 percent or $21.17 million from $42.73 million on Sep. 30, 2015. Current ratio was at 1.09 as on Sep. 30, 2016, down from 1.18 on Sep. 30, 2015.
Days sales outstanding went up to 33 days for the quarter compared with 31 days for the same period last year.
At the same time, days payable outstanding went down to 31 days for the quarter from 35 for the same period last year.
Debt comes down
Fair Isaac Corp has recorded a decline in total debt over the last one year. It stood at $571 million as on Sep. 30, 2016, down 6.09 percent or $37 million from $608 million on Sep. 30, 2015. Total debt was 46.76 percent of total assets as on Sep. 30, 2016, compared with 49.42 percent on Sep. 30, 2015. Debt to equity ratio was at 1.28 as on Sep. 30, 2016, down from 1.39 as on Sep. 30, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
