Jack Henry & Associates Inc. (Nasdaq: JKHY) reported a net income gain of 19% in its fiscal third quarter.
Profits moved up to $84.7 million from $71.4 million a year earlier, according to a news release. Revenue during the quarter increased 10% to $478.3 million.
“We are very pleased to report another quarter of revenue growth and overall strong financial performance," said David Foss, board chair and CEO, in the release. "We continue to experience great demand for Jack Henry financial technology solutions in the markets we serve."
Chief Financial Officer Kevin Williams added in the release that private cloud and processing services were large contributors to the company's revenue growth in the quarter.
As of March 31, the Monett-based financial software firm had assets of $2.3 billion, according to the release. Jack Henry serves roughly 8,000 financial-industry clients nationwide.
JKHY shares were trading at $184.76 as of 9:13 a.m., compared with a 52-week range of $147.50 to $205.37 per share. Its 52-week high was hit April 6.
The Bureau of Labor Statistics reported in May the all-items inflation index surged 8.6% over the past year, the highest increase since 1981.