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Jack Henry & Associates Third Quarter Fiscal 2013 Ends With 25 Percent Increase In Net Income

 

May 1 - Jack Henry & Associates Inc. (Nasdaq: JKHY), a provider of technology solutions and payment processing services primarily for the financial services industry, has announced third-quarter fiscal 2013 results with a 10 percent increase in revenue, an increase of 11 percent in gross profit and a 25 percent increase in net income over the third quarter of fiscal 2012. For the first nine months of fiscal 2013, revenue increased 9 percent, with an increase of 12 percent in gross profit, and an increase of 16 percent in net income compared to last year.

For the quarter ended March 31, 2013, the company generated total revenue of $281.5 million compared to $256.3 million in the same quarter a year ago. Gross profit increased to $114.6 million from $103.4 million in the third quarter of last fiscal year. Net income in the current quarter was $46 million, or $0.53 per diluted share, compared to $36.7 million, or $0.42 per diluted share in the same quarter a year ago.

For the nine months ended March 31, 2013, total revenue of $831.2 million was generated compared to $760.5 million in the first nine months of fiscal 2012. Gross profit increased to $352.8 million compared to $315.2 million during the same period last fiscal year. Net income for the nine months of fiscal 2013 totaled $129 million, or $1.49 per diluted share, compared to $111.7 million, or $1.28 per diluted share for the same nine months in fiscal 2012.

According to Jack Prim, CEO, "The results this quarter are much like those of the last several quarters with solid performances across all areas of the company. Revenue growth was very strong with double digit gains in license fees, implementation and payments."

About Jack Henry & Associates
Jack Henry & Associates Inc. (Nasdaq: JKHY) is a leading provider of computer systems and electronic payment solutions primarily for financial services organizations. Its technology solutions serve more than 11,600 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking supports banks ranging from community to mid-tier institutions with information processing solutions. Symitar is the leading provider of information processing solutions for credit unions of all sizes. ProfitStars provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities and contain costs. Additional information is available at www.jackhenry.com.



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