Jack Henry quarterly revenue grows 16%

The Monett-based financial data technology provider had revenue of $175.3 million in the quarter ended Sept. 30, compared to $150.6 million in the same period last year.

Gross profit grew 10 percent to $69.5 million, from $63.3 million last year.

Net income was $23.5 million, a 10 percent increase from $21.4 million a year ago. Earnings per diluted share were 26 cents, compared to 23 cents last year.

Growth came in areas such as license revenue, implementation services, in-house support fees, outsourcing and hardware sales. Cost of sales, however, increased 21 percent during the quarter due to labor costs, product costs and processing fees, according to the earnings release.

“We are pleased with our overall performance in the quarter, which saw organic revenue growth of over 15 percent and continued strong growth in the recurring revenue components of our support and services offerings,” CEO Jack Prim said in the release.

Shares (Nasdaq: JKHY) closed Monday at $28.53, near a $28.88 52-week high, but were trading down at $27.96 as of 9:30 a.m.