SAN JOSE, Calif. (AP) -- The company that invented the credit score hit a financial speedbump of its own, saying that a tax charge cut its earnings 5 percent. It cut its full-year revenue and profit guidance, and its shares fell in after-hours trading.
FICO, which provides credit scoring and other analysis technology to businesses, posted net income of $19.6 million, or 54 cents per share, for the quarter that ended June 30. During the same period last year it earned $20.7 million, or 59 cents per share.
It said it would have earned 61 cents per share if not for a noncash tax charge related to a deferred tax asset, which was required because of recent tax law changes in a state where it does business.
FICO's revenue rose almost 15 percent to $183.8 million, from $160.5 million a year earlier.
Analysts surveyed by FactSet, on average, had been expecting a profit of 67 cents per share on revenue of $185.7 million. Revenue rose in all three of its business units, including a gain of 17 percent to $115 million in its applications unit. It said the revenue gain was because of acquisitions.
For the full fiscal year, which ends in September, it now expects to earn $2.61 to $2.70 per share, down from previous guidance of $2.80. It said revenue will be $755 million to $765 million, down from a previous estimate of $760 million to $770 million.
Analysts were expecting a profit of $2.81 per share on revenue of $764.6 million.
The company, formerly known as Fair Isaac Corp., said the lower guidance was because of the tax charge as well as "potential continued delays in license revenue," which it didn't explain further.
Before the results were released, its shares rose 34 cents to close at $50.13, near their 52-week high of $51.26. In late trading after regular markets closed, shares fell $2.62, or 5.2 percent, to $47.51.