Jack Henry boosts bottom line 33% in 2Q

Monett-based technology firm Jack Henry & Associates Inc. (Nasdaq: JKHY) boosted its bottom line by 33 percent for the company's second quarter of fiscal 2014.

Earnings jumped to $54 million, or 63 cents per diluted share, for the three months ended Dec. 31, compared to $40.5 million, or 47 cents per diluted share, in the same quarter a year ago, according to a news release.

"For the quarter and first six months ended Dec. 31, 2013, we had record revenue, gross profit and operating income compared to any respective periods in our history," Jack Henry President Tony Wormington said in the release. "The primary driver continues to be our support and services line of revenue, which grew organically 10 percent for both the quarter and year to date, compared to the prior year periods."

The company's support and services revenue jumped to $274.3 million, or 91 percent of total revenue.

Second-quarter financial notes:

• Jack Henry generated revenue of $302.5 million during the quarter, up from $278.7 million in the same quarter last year.
• License revenue decreased 4 percent to $12.9 million from $13.2 million.
• Cost of sales rose 8 percent to $169.7 million from $156.5 million.

As of Dec. 31, Jack Henry reported assets of $1.6 billion and claimed some 11,300 customers nationwide, according to the release.

JKHY shares were trading at $54.36 as of 8:37 a.m., compared to a 52-week range of $37.90 to $60.34.