Updated from 4:25 p.m.
plunged 12% late Monday after slashing earnings guidance for the fiscal second quarter and the rest of the year.
The Minneapolis-based credit scorer didn't offer a reason for the sharply reduced forecasts, though the news comes as the mortgage industry -- a big customer of the company's so-called FICO scoring system -- has been under substantial pressure in recent months, with the collapse of several lenders to poorer customers.
Fair Isaac expects to make 35 to 37 cents a share for the second quarter ended March 31, down from 40 cents a year earlier and well short of the 59-cent Thomson Financial analyst consensus estimate. Revenue will fall to a range of $200 million to $202 million from a year-earlier $208 million, below the $213 million Wall Street target.
The company expects to make $1.55 to $1.65 for the year on revenue of $795 million to $805 million. Analysts were looking for a profit of $2.53 a share on revenue of $865 million.
Shares fell $4.70 to $35.85.