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Jack Henry starts fiscal year with earnings bump

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Jack Henry & Associates Inc. (Nasdaq: JKHY) opened its fiscal year with first-quarter profits of $63.4 million, a nearly 2 percent increase from $62.2 million in the same three-month period of fiscal 2017.

The Monett-based financial industry software firm posted diluted share earnings of 82 cents, a 3-cent bump, according to a news release.

“We begin fiscal year 2018 with another quarter of record revenue and earnings,” Jack Henry President and CEO David Foss said in the release. “Our combined sales team ended ahead of their sales plan for the first quarter, which is a good indicator regarding the state of our business.”

Fiscal 2018 first-quarter financial notes:
    •    Jack Henry sold its jhaDirect product line to Kristopher James Co., netting $1.7 million.
    •    Revenue rose 4 percent to $359.9 million.
    •    Operating expenses increased 6 percent to $267.7 million.

As of Sept. 30, Jack Henry held assets of $1.8 billion and served roughly 9,000 financial industry customers, according to the release.

JKHY shares were trading at $114.63 as of 9:15 a.m., compared with a 52-week range of $81.55 to $115.34.

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