Jack Henry increases profits, revenue in latest quarter

Jack Henry & Associates Inc. (Nasdaq: JKHY) posted higher net income and revenue in its fiscal third quarter that ended March 31.

The Monett-based financial software company reported profits of $111.1 million, a 27.6% increase from $87.1 million in the same quarter a year earlier, according to a news release issued yesterday. Diluted share earnings were up to $1.52 from $1.19 year over year.

Revenue during the three-month period rose 8.6% to $585.1 million from $538.6 million.

"We continued to see strong growth in key revenue areas such as public and private cloud as well as processing. We are successfully winning deals with larger financial institutions through our unwavering focus on culture, service, innovation, strategy and execution," Jack Henry President and CEO Greg Adelson said in the release. "We remain confident in the demand environment, our robust sales pipeline and our long-term financial performance."

Jack Henry's assets were roughly $2.9 billion as of March 31. The company has around 7,500 financial industry clients.

JKHY shares were trading at $169.49 as of 10:23 a.m., compared with a 52-week range of $157 to $196 per share.