Jack Henry reports 1% net income growth

The Monett-based financial technology provider reported results for the quarter that ended March 31 after market close on Tuesday.

Net income was $26.6 million, up 1 percent from $26.4 million in the same quarter last year. Earnings per diluted share were 30 cents, compared to 29 cents a year ago.

Revenue, meanwhile, climbed 11 percent to $187.9 million, up from $168.9 million last year. The growth was driven largely by gains in the company’s support and services segment.

Gross profit for the quarter was $77 million, a 7 percent increase from $71.7 million last year.

“The overall results of the quarter were slightly below our expectations and internal budget, with the obvious shortfalls being in license and hardware revenue,” Chief Financial Officer Kevin Williams said in a news release. “However, this was offset somewhat by the increase in our support and services, and primarily by our recurring revenue.”

Company shares (Nasdaq: JKHY) closed Tuesday at $26.39 and were trading down at $22.80 as of 10:30 a.m. today. The 52-week range is $22.22 to $29.24.