Jack Henry reports 19% increase in net income

The financial data-processing and integrated technology provider reported revenue of $592.2 million, an increase of 11 percent from the previous fiscal year. Gross profit grew 15 percent to $256.4 million, and net income increased to $89.9 million, or 96 cents per share, an increase of 19 percent over the prior fiscal year.

For the quarter ended June 30, Jack Henry earned $25.4 million, or 27 cents per share, compared to $21.7 million, or 23 cents per share, for the same quarter last year.

Revenue was $162.3 million compared to $141.4 million during the same period last year. Gross profit increased to $70.7 million compared to $59.9 million in fourth-quarter 2005.

Expectations

Fourth-quarter sales exceeded Wall Street expectations. Analysts predicted earnings of 27 cents per share and sales of $154.1 million.

“We continue to experience strong demand for our products and services in both of our banking and credit union segments,” President Tony Wormington said in a news release. “Also, we are experiencing continued increasing demand for the products marketed under our ProfitStars brand to noncore customers, which are contributing to both our revenue and earnings growth.”

Shares of Jack Henry (Nasdaq: JKHY) closed Aug. 23 at $19.23, compared to a 52-week range of $16.56 to $23.77.

This story originally appeared in SBJ’s Aug. 23 free e-news Daily Update. Click here to register.