SAN FRANCISCO -- Fair Isaac (FIC) posted first-quarter earnings in line with its prior warning and announced an acquisition Tuesday.

Revenue for the quarter was $199.4 million, down 4% from $208.2 million in the prior year.

Since the company's warning on Jan. 14 that revenue and earnings would fall short of guidance, analysts had revised estimates and were expecting a top line of $198.8 million, according to Thomson Financial.

Net income was down 35% year over year to $20.2 million, or 39 cents a share. A year ago, the bottom line was $31.2 million, or 52 cents a share.

As previously disclosed, Fair Isaac expects second-quarter revenue of $205 million and earnings per share of 44 cents. Analysts are projecting a top line of $204.4 million and EPS of 44 cents.

Bookings contracts for the first quarter totaled $102.4 million, up 42% year over year.

The developer of credit scoring software bought business management software maker Dash Optimization for $32 million.

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