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.
Jack Henry Reports StrongQuarter
October 20, 2005, 1:00 a.m. EDT 1 Min Read
