Fair Isaac's Profit Slumps

SAN FRANCISCO - Fair Isaac's(FIC Quote) revenue and earnings were hit hard during its second quarter as the company undergoes a restructuring.

The Minneapolis, Minn. software company said second-quarter revenue was essentially flat at $193.2 million, vs. $190.7 million for the same quarter of last year. Analysts were expecting $204.7 million, according to Thomson Financial.

Net income was down to $13.5 million, or 28 cents a share , from $21.4 million, or 37 cents a share, one year ago.

Excluding a charge of 8 cents a share from a re-engineering plan, Fair Isaac posted a profit from continuing operations of 44 cents a share, meeting the average estimate of analysts polled by Thomson Financial. ...