MONETT, Mo. - (10/20/04) -- Credit union outsourcer Jack Henry& Associates reported Tuesday that earnings for its fiscalfirst quarter ended September 30 rose 20% to $16.7 million, or 18cents a share, fuelded by a 22% surge in revenues. Revenues for thecompany's core credit union and bank services unit rose 9% to $99.8million for the quarter, including a 15% increase in revenues fromin-house support fees, ATM/Debit card and switching fees andoutsourcing. Licensing revenue soared by 51% to $19.6 million forthe first quarter. Hardware sales slumped 11% during the period to$21 million.
Jack Henry Reports StrongQuarter
October 20, 2004, 1:00 a.m. EDT
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