FICO declines as co. cuts full-year forecasts

FICO falls as company lowers full-year earnings, revenue forecasts

Associated Press

NEW YORK (AP) -- Shares of FICO slipped Monday after the company cut its fiscal full-year earnings and revenue forecasts.

THE SPARK: FICO, which provides credit scoring and other analysis technology to businesses, now foresees full-year earnings of $2.47 to $2.51 per share. That's down from its prior guidance of $2.61 to $2.70 per share. The company's fiscal year ended in September.

FICO, formerly known as Fair Isaac Corp., now expects fiscal 2013 revenue between $741 million and $743 million. It previously predicted $755 million to $765 million.

For the fourth quarter, FICO anticipates earnings of 77 cents to 81 cents per share, on revenue in a range of $188 million to $190 million.

CEO Will Lansing said in a statement that FICO is still experiencing delays in application license sales to North American banks and that customers are delaying purchasing decisions.

The company is expected to report its fourth-quarter and full-year results on Oct. 30.

SHARE ACTION: Down $2.29, or 4 percent, to $55.04 in afternoon trading. The stock has traded in a 52-week range of $40.47 to $57.58. Year to date, the shares are up more than 31 percent.

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