Jack Henry & Associates posts quarterly revenue of $240M

Monett-based Jack Henry & Associates Inc. (Nasdaq: JKHY) reported revenue of $240.2 million during its third quarter, an 11.4 percent increase compared to $215.5 million in revenue in the same quarter of fiscal 2010.

The company recorded net income of $33.1 million during the quarter, a 4.6 percent uptick from earnings of $31.7 million in third-quarter fiscal 2010. Earnings per diluted share were 38 cents, a cent higher than the company's third quarter of the previous year, according to a news release.

"We are pleased to report another solid performance in our third fiscal quarter, with record revenue and net income and solid organic revenue growth," Jack Henry & Associates CEO Jack Prim said in the release. "Against a backdrop of ongoing improvement in the economy, we have seen increased sales activity levels and results."

Third-quarter highlights:

• Cost of sales was $144.9 million, up from $129 million in the same quarter last fiscal year.
• Assets improved to $1.4 billion from $1 billion.
• The current and long-term debt figure increased to $244.7 million from $73.8 million. Approximately $130 million in debt was repaid during the third quarter.

Jack Henry & Associates constructs integrated computer systems and processes ATM and debit card transactions for bank and credit unions, with 11,200 customers nationwide.

Jack Henry shares were trading at $33.39 as of 8:25 a.m., compared to a 52-week range of $22.55 to $34.17.[[In-content Ad]]