Jack Henry |amp| Assoc. reports record profits

Jack Henry & Associates, a Monett-based provider of integrated computer systems and ATM networking products for banks and credit unions, April 19 reported double-digit growth in the third quarter of fiscal 2000. The company's recent growth is generating record revenues, profits and earnings per share, according to a press release from the company.

Income from operations increased 22 percent to $10.1 million, or 24 cents per diluted share, in the quarter ended March 31, compared to $8.3 million, or 20 cents per diluted share, a year ago.

"As expected, the market for bank technology has quickly rebounded from its Y2K doldrums, and we see increasing demand for all products and services," said Chairman and Chief Executive Officer Michael E. Henry, in the release.

"We believe our strong suite of Internet banking products, which include real-time e-banking and bank-branded portals, are the best in the industry. As such, our Internet technology provides a competitive advantage in a broad range of marketing situations," he added.

Third-quarter revenues increased 28 percent to $56.4 million, compared to a year ago.

"We are well-positioned to capture our share and more of the upsurge in bank technology spending. Our two most recent acquisitions greatly enhanced our product and service capabilities, both for banks using UNIX or NT platforms, and for West Coast banks that outsource their data processing operations. We believe these improvements in the breadth of capabilities, coupled with (the company's) excellent reputation for customer service, provide compelling growth opportunities for the future," Henry said.