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Jack Henry starts fiscal year with earnings gain

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To start fiscal 2020, Jack Henry & Associates Inc. (Nasdaq: JKHY) reported first quarter net income of $89.4 million, a 7% increase from $83.6 million a year earlier.

For the three months ended Sept. 30, the Monett-based financial industry software firm’s diluted share earnings were $1.16. That’s 8 cents above the prior year quarter, according to a news release.

"We are very pleased to report another record quarter of revenue, operating income and net income,” Jack Henry President and CEO David Foss said in the release. “Our sales teams again had a very strong quarter and demand for Jack Henry technology solutions continues to be high.”

First quarter financial notes for Jack Henry:
• Revenue climbed 12% to $438 million.
• Operating income grew 14% to $118 million.
• Provision for income taxes was $29.2 million, a 47% increase.

As of Sept. 30, Jack Henry’s assets were $2.2 billion. The company has more than 9,000 financial institution clients, according to the release.

JKHY shares hit a new 52-week high of $151.66 this morning. The 52-week low is $120.20.

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