Jack Henry's quarterly profits rise by nearly 21%

Jack Henry & Associates Inc. (Nasdaq: JKHY) posted a 20.8% increase in profits during its fiscal first quarter that ended Sept. 30.

The Monett-based financial software company's net income during the three-month period was roughly $144 million, up from $119.2 million in the same quarter a year earlier, according to a news release. Diluted share earnings improved to $1.97 from $1.63 per share year over year.

The company's revenue during the latest quarter increased by 7.3% to $644.7 million from approximately $601 million.

"The resiliency of our business model showed in our first quarter results," said Mimi Carsley, Jack Henry's chief financial officer and treasurer, in the release, noting an increase in free cash flow. "This cash flow was partially utilized for $100 million in share repurchases for the first quarter and the month of October."

As of Sept. 30, Jack Henry's assets were $3 billion. The company has roughly 7,400 financial industry clients.

JKHY shares were trading at $164.35 as of 10:57 a.m., compared with a 52-week range of $144.12 to $196 per share.