MONETT, Mo. Jack Henry & Associates reported a 9.2% increase in net income for its fiscal fourth quarter, spurred by 12% growth in revenue.
Fourth quarter earnings were fueled by a 14% surge in the company’s core support and service revenue to $269.9 million. License revenue dropped 4% in the quarter to $12.1 million and hardware sales advanced 2% to $16.2 million.
For the full year Jack Henry reported a 10% increase in revenue to $1.12 billion; and a 14% growth in net income to $176.6 million.
“Results for the year were very much in-line with our internal forecasts and budgets,” said Kevin Williams, CFO of Jack Henry. “Operating income was within 1% of our original projections. Our interest expense increased due to writing off the remaining balance related to the term loan that was paid off prior to year end.”
