Jack Henry reports FY07 earnings increase

The banking technology and data-processing provider recorded $668.1 million in total revenue for fiscal 2007. That’s up 13 percent from $592.2 million in 2006.

Gross profit was $286.2 million, up 12 percent from $256.4 million. Net income for the year was $104.7 million, or $1.14 per diluted share, up 19 percent from $89.9 million, or 96 cents per diluted share last year.

“Our revenue growth … was primarily organic,” CEO Jack Prim said in a news release. “While our license revenue was below expectations for the quarter and fiscal year, the increase in support and services and hardware revenue continued to offset any shortfall.”

Total revenue for the fourth quarter was $181.3 million, up 12 percent from $162.3 million in fourth-quarter 2006. Net income was $29.1 million, or 32 cents per diluted share, up 19 percent from $25.4 million, or 27 cents per diluted share, in 2006.

Shares (Nasdaq: JKHY) closed Sept. 5 at $25.98 compared to a 52-week range of $19.85–$27.