Fair Isaac's Forecast Lifts Shares

Struggling software developer Fair Isaac(FIC Quote - Cramer on FIC - Stock Picks) surprised analysts with stronger-than-expected third-quarter results and higher guidance on Wednesday.

The Minneapolis, Minn.-based software company said revenue for the quarter was $205.8 million, down 0.6% from a year earlier, but above analysts' expectations of $196.8 million.

The stock was recently up 1% in after-hours trading to $38.15.

The company said earnings fell to $23.8 million, or 42 cents a share, from $26 million, or 40 cents a share.

Analysts had expected EPS of 36 cents a share and net income of $20.8 million.

Struggling with a declining revenue model, results included an after-tax restructuring charge of $3.4 million, or 5 cents per share. Bookings were off 5% year over year to $89.8 million from $94.5 million.

For the fourth quarter, the company expects revenue of $200 million and EPS of 40 cents. Analysts were expecting revenue of $196.9 million and EPS of 38 cents, excluding items.

For the full fiscal year, Fair Isaac projects revenue of $815 million and EPS of $1.71. The company had previously projected full-year revenue of $795 million to $805 million and EPS of $1.55 to $1.65. Analysts were expecting revenue of $803 million and EPS of $1.61.