MONNETT, Mo. – Jack Henry & Associates reported yesterday that net income for its fiscal first quarter declined 4%, to $22.5 million, or 26 cents a share, as income from continuing operations fell by 5%.
First quarter revenue rose 5% to $183.1 million, but income from continuing operations decreased to $22.5 million.
"While revenue was slightly below our expectations for the quarter, considering the current challenges presented by the economy and the related uncertainty in the marketplace, we are fairly pleased with our overall performance which saw total revenue growth of 5% and organic growth of over 3%," said Jack Prim, CEO, in a statement.
Growth of in-house support fees, outsourcing, and EFT support helped boost support and service revenue by 10% to $151.9 million in the first quarter. But hardware sales decreased 24% to $17.9 million, while license revenue fell 2% to $13.3 million, in the first quarter.
