Jack Henry Reports StrongQuarter
MONETT, Mo. - (10/20/05) -- Credit union outsourcer Jack Henry& Associates said Wednesday that net income for its fiscalfirst quarter ending Sept. 30 rose 16% to $19.4 million, or 21cents a share, due to a strong performance in its outsourcingoperations. First quarter revenues rose 10% to $137 million.Support and service revenue, which includes ATM/debt card andswitch fees, outsourcing and in-house support fees, rose 19% forthe first quarter, to $99.4 million; while license revenue slumped14% to $16.9 million; and hardware sales declined 1% to $20.7million. Jack Henry predicted that the wide-reaching impact of therecent hurricanes Katrina and Rita will result in increasedinterest by existing clients in the company's outsourced coreprocessing services, disaster recovery services and businesscontinuity consulting.