MONETT, Mo. – Jack Henry & Associates yesterday reported a 4% decline in its fiscal second quarter earnings, to $28 million, or 33 cents a share, fueled by a 1% drop in revenues, to $190.2 million.
For the first six months of its fiscal year, Jack Henry also reported a 4% fall in net income, to $59.7 million, or 58 cents a share. Revenues for the first half of the fiscal year rose 2% to $373.3 million.
"We continued to see a cautious outlook by our customers during the quarter regarding discretionary software and hardware expenditures and expect these types of spending items to remain a challenge until we return to some form of economic stability," said Jack Henry CEO Jack Prim, in a statement. "During these challenging times we continue to maintain a strong focus on cost control which is reflected in our operating expense reduction in the quarter. As part of this we will look for additional areas of cost containment which do not damage the long term outlook for the business."
