Topic: Growth Stocks

The Stock Pickers Digest Hotline – Friday, April 4, 2008

Article Excerpt

FAIR ISAAC CORP. $24.38, symbol FIC on New York, rose this week after it announced a number of restructuring measures. The company’s main business is its FICO software, which lets creditors use information about a customer to calculate a credit score. Fair Isaac will sell more than a dozen non-strategic businesses. These include its government research, advertising and veterinary diagnostics businesses, as well as some of its telecommunications applications. It has already sold its insurance-bill review business to Mitchell International. The company will also cut 420 jobs (out of 2,824 employees) and consolidate facilities. In total, Fair Isaac aims to reduce annual costs by about $100 million through the restructuring. The company will take a $7 million pre-tax charge for the restructuring. To put that into context, in its first fiscal quarter ended December 31, 2007, Fair Isaac earned $20.2 million or $0.39 a share on $199.4 million in revenues. The U.S. subprime mortgage crisis has hurt the banks and other financial institutions that…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.