Monett-based Jack Henry & Associates Inc. (Nasdaq: JKHY) ended both its fourth quarter and fiscal year with positive net income gains, according to an Aug. 17 news release.
For the fourth quarter ended June 30, the company posted net income of $36.57 million, or 42 cents per diluted share, a 22 percent increase compared to earnings of $29.98 million in the same quarter of the previous fiscal year.
Revenue for the quarter was $249.3 million, with cost of sales coming in at $145.1 million and operating expenses, $46.1 million.
Jack Henry ended its fiscal year with net earnings of $137.47 million, 17 percent more than $117.87 million earned in fiscal 2010. Earnings per diluted share were $1.59 for the year, compared to $1.38 per share in the previous year, according to the release.
Fiscal 2011 highlights:
- Revenue was $966.9 million, a 16 percent uptick from fiscal 2010 revenue of $836.6 million.
- Cost of sales was $567.6 million, leaving a gross profit of $399.3 million.
- Operating expenses were $216.3 million, a 19 percent increase compared to $182.3 million last year.
- Current and long-term debt decreased to $154 million at the end of the fiscal year, compared to $378.7 million a year ago.
"We ended fiscal 2011 with record levels of revenue, gross profit and net income," Jack Henry President Tony Wormington said in the release. "We are entering our fiscal 2012 with a strong balance sheet with low levels of debt, recurring revenue that continues to grow, an extremely focused strategy on servicing financial institutions and a cautiously optimistic outlook for the new fiscal year."
As of June 30, the company's assets were $1.51 billion, a 4 percent drop compared to the end of fiscal 2010, when the company had assets of $1.56 billion.
Jack Henry & Associates constructs integrated computer systems and processes ATM and debit card transactions for bank and credit unions, with 11,300 customers nationwide.
Jack Henry shares were trading at $28.67 as of 10 a.m., compared to a 52-week range of $23.34 to $34.17.[[In-content Ad]]
