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Jack Henry reports its results for fiscal 1998

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Jack Henry & Associates Inc. reported July 20 its preliminary fourth-quarter and fiscal-year results for 1998. The company said in a release that new records were set for revenues, earnings and earnings per share from continuing operations for the quarter and year.

Net income from continuing operations for the fiscal year that ended June 30 was $22.24 million, or $1.13 per share, on revenues of $113.42 million. That compares to $15.76 million, or 83 cents per share, on revenues of $82.6 million for the previous year.

The annual results reflect a 36 percent increase in earnings per share from continuing operations on a 37 percent increase in revenues compared to last year.

"Obviously we are very excited about our results for the quarter and the year. This year we have seen record sales of our core software systems and IBM hardware," said Michael E. Henry, chairman and chief executive officer, in a release.

"Growth has also been stimulated by strong demand for our complimentary products and expansion of our outsourcing business. It is always great to exceed expectations, but the enthusiasm at our company comes from how we've positioned ourselves for the future," Henry added.

Net income from continuing operations for the fourth quarter that ended June 30 was $7.34 million, or 37 cents per share, on revenues of $38.73 million. This compares to $4.44 million of net income, or 23 cents per share, on revenues of $20.84 million in the same period of the previous year.

The figures represented the 34th consecutive quarter of earnings increase from continuing operations on a year-to-year comparison. Earnings per share rose 61 percent and revenues increased 86 percent comparing fourth-quarter performance from year to year.

The Monett-based company provides integrated computer software to banks and other financial institutions. JHA markets, installs and supports its systems for more than 1,500 customers internationally.

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