Jack Henry revenue up in fiscal 2008

Total revenue was $742.9 million, up from $666.5 million in fiscal 2007. Gross profit for the year was $307.2 million, up 7.1 percent from the previous year. Net income for the year was down 0.5 percent to $104.2 million, or $1.16 per diluted share.

Numbers for the fourth quarter were not so positive. Total revenue for the quarter was $188.7 million, up 4.3 percent from the same quarter in fiscal 2007, but gross profit was down 3.4 percent to $75.7 million. Income from continuing operations decreased 14 percent to $25.3 million, while net income was $24.9 million, or 28 cents per diluted share, down 14.4 percent from a year earlier.

“We are pleased to announce record revenues for the year, but obviously are not happy with the net income for the quarter or year,” CEO Jack Prim said in a news release. “License revenue fell off dramatically for the quarter compared to last year and slightly for the year, which had a significant impact on both top-line revenue and gross margin. Our managers and employees continue their ongoing focus on our customers while also maintaining a focus on cost control during this challenging period.”

License revenue for the fourth quarter was $18.3 million, down 24.7 percent from the $24.3 million brought in during fourth-quarter 2007.

Company shares (Nasdaq: JKHY) closed Tuesday at $22.24, but were trading down 8 percent at $20.45 as of 9 a.m. central time. The 52-week range is $20.13 to $29.24.

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