MONETT, Mo. – Jack Henry & Associates said earnings for its fiscal first quarter ended Sept. 30 rose 10%, fueled by a strong growth in its outsourcing business and a 16% rise in revenues.
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For the quarter, revenues increased to $175.3 million, while net income was $23.5 million, or 26 cents a share.
Revenue from support services and hardware sales rose 20% for the quarter compared to the first quarter last year, to $138.4 million.
That helped offset a 13% decrease in license revenue, to $13.5 million. The company's sales backlog grew 7% to $237.7 million, compared to a year ago.
