Acquisitions Boost JackHenry
MONETT, Mo. - (02/03/06) Credit union outsourcer JackHenry & Associates said the seven acquisitions over the past 18months helped boost its bottom line for the second quarter of itsfiscal year, ended Dec. 31. The company reported a 22% rise inearnings to $21.6 million or 23 cents a share, for the quarter,based on an 8% increase in revenues to $147.4 million. As a result,net income for the first six months of the companys fiscalyear rose 19% to $65.2 million, or 44 cents a share, based on a 9%rise in revenues to $284.4 million. Jack Henry said revenues forits core support and service operations rose a strong 21% for thesecond quarter to $106.5 million, compared to the second quarterlast year. Licensing revenues slumped 6% to $20.8 million for thesecond quarter; and hardware sales declined 23% to $20.1 millionfor the period. Operating expenses, mainly because of thecompanys acquisitions binge, rose 17% in the second quarterand 12% for the first six months.