FICO Declines as Company Cuts Full-Year Forecasts

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 $2.66, or 4.64 percent, to $54.67 at the closing. 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.