FAIR ISAAC CORP. $42.44 (New York symbol FICO; TSINetwork Rating: Average) (415-472-2211; www.fairisaac.com; Shares outstanding: 34.3 million; Market cap: $1.5 billion; Dividend yield: 0.2%) makes FICO Scores, the computer program that dominates the market for software that businesses use to evaluate customer creditworthiness. The company is also profiting by selling software that helps credit card issuers control fraud and analyze their clients’ spending patterns.
In its fiscal 2012 second quarter, which ended March 31, 2012, Fair Isaac’s earnings per share excluding one-time items jumped 41.0%, to $0.55 from $0.39. The company’s ongoing cost cuts were a major reason for the increase. Sales rose 4.4%, to $159.5 million from $152.8 million.
Fair Isaac spends around 10% of its sales on research. That lets it keep producing innovative new products that help it stay ahead of its competitors.
The company’s balance sheet is sound. It holds cash and securities of $191.1 million, or $5.31 a share. Its long-term debt of $504 million is a manageable 33.6% of its market cap.
Fair Isaac should earn $2.56 a share in fiscal 2012. The stock has risen 111.7% since the start of October 2011, and now trades at 16.6 times that figure. However, that’s not unreasonable for a company with strong growth prospects and hefty research spending.
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