Jack Henry revenues up 16% in first quarter

First-quarter income is up for Monett-based Jack Henry & Associates and a dividend has been declared.

The companys board of directors declared Oct. 29 a regular quarterly cash dividend of 35 cents per share. The cash dividend on its common stock, par value 1 cent per share, is payable Dec. 2 to stockholders of record as of Nov. 18. As of Oct. 28, there were 88,968,622 shares of the common stock outstanding.

The company, a provider of integrated technology solutions that perform data processing for financial institutions, is traded on the NASDAQ market under the symbol JKHY.

Jack Henry also reported its first quarter results Oct. 15.

Among those results, revenues rose 16 percent, gross margins improved and net income increased 23 percent compared to the first quarter of fiscal 2003.

For the quarter ended Sept. 30, the company generated total revenues of $108.9 million, compared to $94 million in the same quarter a year ago. Gross profit increased to $42.7 million compared to $35.1 million in last years first quarter. Net income totaled $13.9 million, or 15 cents per diluted share, compared to $11.3 million, or 13 cents per diluted share in the same quarter a year ago.

Customer attendance at our recent national user group meeting was significantly higher than at last years event, and the participants appeared to be noticeably more upbeat than in the prior year. The overall attitudes of our existing customers appear that they are very happy and fairly optimistic regarding the future which is evidenced by our strong sales pipeline, said Michael E. Henry, chairman and CEO, in a news release. We continue to have good success in selling those products that assist our customers in becoming more efficient, such as teller and platform automation.

Jack Prim, president, added, The investments made last year to continue the development of our existing products, acquisition and the opening of additional item processing centers, and an acquisition to service the smaller sized credit union market are all beginning to have a positive impact on our overall performance.