Jack Henry ends fiscal year with roughly flat profits

Monett-based financial software firm Jack Henry & Associates Inc. (Nasdaq: JKHY) ended its fiscal year with nearly flat profits.

During fiscal 2023, which ended June 30, the company's net income was $366.6 million, a 1% increase from $362.9 million a year earlier, according to a news release. Diluted share earnings moved up to $5.02 from $4.94 per share in the prior fiscal year.

"Our sales pipeline is the highest it's ever been entering a new fiscal year, and we're continuing to innovate and deliver modern technology to community and regional financial institutions," Jack Henry board Chair and CEO David Foss said in the release.

Revenue during fiscal 2023 rose 5% to $1.2 billion from $1.16 billion a year earlier.

The company's fiscal fourth-quarter net income jumped 22% to $97.8 million, while revenue during the three-month period was up 11% to $534.6 million, according to the release.

As of June 30, Jack Henry's assets were $2.8 billion. The company has around 7,500 financial industry clients.

JKHY shares were trading at $156.20 as of 10:16 a.m., compared with a 52-week range of $139.28 to $205.21 per share.