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Shares of Fair Isaacundefined plummeted in after-hours trading after the company cut third- and fourth-quarter earnings estimates as a result of lower software license fees.

In a press release after the bell Monday, the company now said it expects to earn between 38 and 40 cents a share in the third quarter -- below previous guidance of 40 to 43 cents a share and Thomson First Call's estimate of 42 cents a share.

Net income in the quarter is getting a 6-cent-a-share boost from the sale of a minority investment.

In addition, Fair Isaac estimates third-quarter revenue will now come in at $173 million to $175 million -- below its prior estimate of $185 million to $189 million as well as the consensus analyst estimate of $185.9 million.

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For the fourth quarter, the Minneapolis-based provider of management systems and consulting services expects to earn 25 cents to 27 cents a share on revenue of $189 million to $195 million. Both ranges are below the Street estimates of net income of 42 cents a share and revenue of $208.2 million.

The company's shares were down more than 15% in after-hours trading after closing the regular session up 4 cents to $31.36.