MONETT, Mo. – Jack Henry & Associates reported a 7% rise in net income for its fiscal second quarter yesterday, fueled by a 5% increase in revenues.
The provider of back-office services for credit unions said second quarter revenues were $255.9 million, up from $242.6 million for the same period last year. Revenues for the company’s core support and service operations advanced 6% to $225.6 million for the second quarter; while hardware sales rose 13% to $16.7 million; and license revenue declined 5% to $13.6 million.
“We had solid contributions from our Support and Services line of revenue, which represents 88% of our total revenue,” said Tony Wormington, president of Jack Henry.
For the first half of its fiscal year, Jack Henry reported a 6% increase in revenues to $504.2 million, and an 11% rise in net income to $75 million.
