Jack Henry Reports StrongEarnings
MONETT, Mo. - (05/09/06) Credit union outsourcer JackHenry & Associates reported strong growth Monday in its supportand services operations, which propelled it to a 21% increase infiscal third quarter earnings, to $23.5 million, or 25 cents ashare. Revenues grew 8% to $145.5 million for the third quarter,fueled by a 15% rise in support and services, compared to declinesin revenues from licenses and hardware sales. For the first threequarters of its fiscal year Jack Henry reported a 20% increase innet income to $64.5 million, or 69 cents a share, and a 9% rise intotal revenues to $429.9 million. For the first nine months thecompanys credit union and services segment revenue increasedjust 2% to $80.6 million. Separately, Jack Henry announced severalkey management changes Monday, including the appointment of MarkForbis, currently general manager of technology services, as thenewly created position of vice president and chief technologyofficer. The company also announced the resignation of Tom Walsh,general manager of marketing and industry research, and theretirement of Marguerite Butterworth, vice president and generalmanager of hardware and vendor relations.