Jack Henry opens fiscal year with 6% earnings bump

Jack Henry & Associates Inc. (Nasdaq: JKHY) started its fiscal 2015 with first-quarter earnings of $52.8 million, a 6 percent increase compared to $49.8 million a year earlier.

The Monett-based banking software firm produced 64-cent diluted share earnings for the three months ended Sept. 30, a year-to-year bump of 6 cents, according to a news release.

Chief Executive Jack Prim said the company posted record first-quarter earnings, as well as revenue of $318.8 million - up 8 percent.

Third-quarter financial notes:

• The company’s largest producer of revenue - its support and services line comprising 92 percent of the total - gained 8 percent to $292.5 million.
• Sales costs increased 8 percent to $180.5 million.
• Gross profit was up 7 percent to $138.3 million for the quarter.

Jack Henry constructs integrated computer systems and processes ATM and debit card transactions for banks and credit unions, with some 11,300 customers nationwide. As of Sept. 30, the company's assets were $1.6 billion, according to the release.

JKHY shares were trading at $60.42 as of 10:26 a.m., compared to a 52-week range of $51.86 to $62.[[In-content Ad]]