First USA Paymentech Inc. reported $7.7 million of net income for the quarter ended June 30, more than a 42% increase from $5.4 million the year before.

The Dallas-based payment processor, for which June 30 marked the end of its 1997 fiscal year, said its income for the year rose to $29.9 million, or 89 cents per share, from $14.3 million, or 54 cents per share, in the 1996 fiscal year.

In the most recent quarter, First USA, the third-largest payment processor, handled $11 billion of sales volume, including 392 million transactions.

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