FAIR ISAAC CORP. $44.96 (New York symbol FICO; TSINetwork Rating: Average) (415-472-2211; www.fairisaac.com; Shares outstanding: 33.8 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. I
In its fiscal 2012 third quarter, which ended June 30, 2012, Fair Isaac’s earnings per share rose 1.7%, to $0.59 from $0.58. That matched the consensus estimate of $0.59. Revenue rose 6.5%, to $160.5 million from $150.7 million.
Research spending is a hidden plus
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 is also making acquisitions. It recently agreed to buy Adeptra, which makes systems that let businesses communicate with customers through a range of channels, including voice, instant messaging, mobile applications and email.
Fair Isaac’s balance sheet is sound. It holds cash and securities of $150.7 million, or $4.41 a share. Its long-term debt of $496 million is a manageable 33.1% of its market cap.
The company should earn $2.56 a share in fiscal 2012. The stock has risen 78.8% over the last year, and now trades at 17.6 times that figure. However, that ratio is not unreasonable for a company with strong growth prospects and high research spending.
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