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

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."




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