10-K/APeriod: FY2002

FAIR ISAAC CORP Annual Report (Amendment), Year Ended Sep 30, 2002

Filed January 10, 2003For Securities:FICO

Summary

This filing is an amendment to Fair Isaac Corp's (FICO) 10-K report originally filed on November 21, 2002, primarily to correct a typographical error regarding revenue contributions from key alliances. The amendment clarifies that alliances with Equifax, TransUnion, and Experian accounted for 12%, 8%, and 7% of 2002 revenues, respectively. The core business of FICO involves providing analytic, software, and data management products/services to automate and improve business decisions across various industries, including finance, insurance, retail, and telecommunications. The acquisition of HNC on August 5, 2002, is a significant event that impacts comparability of financial results between fiscal years 2002 and prior periods. This acquisition also led to a restructuring of FICO's reportable business segments for internal reporting and performance assessment purposes, including Scoring Solutions, Strategy Machine Solutions, Professional Services, and Analytic Software Tools.

Key Highlights

  • 1Amendment to original 10-K filed to correct revenue percentages from major credit bureau alliances (Equifax: 12%, TransUnion: 8%, Experian: 7% in 2002).
  • 2FICO provides decision automation and improvement solutions used in over 25 billion customer decisions annually.
  • 3Key customer industries include banking, credit card issuing, insurance, retail, telecommunications, healthcare, and government.
  • 4The acquisition of HNC on August 5, 2002, significantly impacts comparability of financial results between fiscal 2002 and prior years.
  • 5FICO's business segments have been reorganized post-HNC acquisition into Scoring Solutions, Strategy Machine Solutions, Professional Services, and Analytic Software Tools.
  • 6The company also serves consumers directly through online services offering FICO® scores.

Frequently Asked Questions

The amended filing (10-K/A) was solely to correct a typographical error in the original 10-K concerning the percentage of 2002 revenues generated from alliances with Equifax, TransUnion, and Experian. The corrected percentages are 12%, 8%, and 7% respectively.

The acquisition of HNC on August 5, 2002, means that HNC's results are included in FICO's financial statements only from the acquisition date. This makes direct year-over-year financial comparisons between fiscal 2002 and prior years (like 2001) not directly comparable. Additionally, FICO reorganized its reportable business segments to reflect management's new structure for evaluating performance.

Following the HNC acquisition and subsequent reorganization, FICO's reportable business segments are Scoring Solutions, Strategy Machine Solutions, Professional Services, and Analytic Software Tools.