Jack Henry starts fiscal year with earnings bump

Jack Henry & Associates Inc. (Nasdaq: JKHY) reported a 2% increase in net income to start its fiscal 2021.

The Monett-based financial software firm's fiscal first quarter earnings were $91.2 million, or $1.19 per diluted share, compared with $89.4 million, or $1.16 per diluted share, a year earlier, according to a news release.

"Our teams continue to perform admirably given the obvious challenges of conducting business in the midst of the ongoing pandemic," Jack Henry President and CEO David Foss said in the release. "As I've said before, the resiliency of our business model and the extraordinary commitment of our associates has enabled us to continue to deliver solid results for our clients and our shareholders."

Chief Financial Officer Kevin Williams added in the release that quarterly results were driven by private cloud, card processing and digital services.

Third quarter financial notes included a 3% increase in revenue to $451.8 million, as well as a 10% drop in provision for income taxes to $26.3 million, according to the release.

As of Sept. 30, Jack Henry had $2.3 billion in assets. The company has roughly 8,700 financial industry clients.

JKHY shares were trading at $158.75 as of 9:18 a.m., compared with a 52-week range of $123.64 to $200.98.