Jack Henry's Second Quarter Income Up 5% Over Last Year

Print
Email
Reprints
Comment
Twitter
LinkedIn
Facebook
Google+

Jack Henry (JKHY) reported Wednesday a fiscal second quarter net income of $40.5 million, or $0.47 per share — up 5% from the same period a year ago.

The bank technology provider's revenue was $549.7 million, an increase of roughly 9% from the same period last year. Jack Henry's fiscal second quarter ended Dec. 31.

Still, the Monett, Mo. company fell short of analysts' estimates by almost three cents, in part because of costs related to Hurricane Sandy. Flooding during the storm rendered Jack Henry's Lyndhurst, N.J. item processing center inoperable. The company's costs rose to $62.8 million from roughly $46.6 million in the same quarter last year.

"Our performance was very strong on multiple fronts in the quarter, including gross margin improvement, backlog growth, electronic payments and OutLink revenue growth, as well as overall organic revenue growth," said Jack Henry's chief executive Jack Prim, in a press release. "These results, however, were somewhat masked by the unusual events in the quarter."

JOIN THE DISCUSSION

SEE MORE IN

'We Don't Want to Wage this Proxy Contest in the Gutter': Week's Best Quotes

The most notable quotes from American Banker stories of the previous week. Readers are encouraged to add their own observations in the Comments fields at the bottom of each slide.

(Image: Fotolia)

Comments (0)

Be the first to comment on this post using the section below.

Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.

The FinTech 100

FIS and Tata once again top the annual FinTech 100 list of vendors, ranked by revenue; IBM and Hewlett-Packard lead the pack of tech companies serving multiple industries; and Bionym and Silver Tail are among the 10 Tech Companies to Watch.
DAILY ENEWSLETTER UPDATE

A Newsletter featuring Bank Technology News' top stories plus special reports and data

This feature displays payments industry news and analysis from American Banker sibling brand PaymentsSource. Registration is required; for more information contact customer service.

TWITTER
FACEBOOK
LINKEDIN
Already a subscriber? Log in here
Please note you must now log in with your email address and password.