Jack Henry quarterly revenues rise 16%

Revenue for the fiscal quarter ended March 31 was $168.9 million, compared to $145.5 million a year earlier.

Net income was $26.4 million, or 29 cents per diluted share – a 12 percent increase over $23.5 million, or 25 cents per share, last year.

The financial data-processing and integrated technology provider also reported a 13 percent increase in gross profit, which was $71.7 million, compared to $63.7 million a year before.

“While license fees were below expected levels, increases in support and service revenue more than offset any shortfall,” CEO Jack Prim said in a news release. “Our business continues to be less dependent on license fees to drive revenue growth, while still providing upside opportunities when larger license transactions do occur in a particular quarter.”

Shares of Jack Henry (Nasdaq: JKHY) closed Tuesday at $24.09 and were trading at $24.27 as of 11:30 this morning. The 52-week range is $17.40 to $24.93.