Jack Henry & Associates Inc. said its first-quarter net income for its fiscal year 2012 rose 15% to $36.5 million from a year earlier, lifted by growth in support and service revenue.
The Monett, Mo., company said Tuesday that support and service revenue represented 89% of its total revenue for the quarter that ended Sept. 30. This area grew more than 4% from a year ago to $220.3 million for the quarter, despite slightly lower implementation revenues.
Its total revenue rose 6% to $248.3 million from a year earlier.
License revenue totaled $12.3 million, up 29% from first quarter 2010. Hardware revenue climbed almost 7% from a year earlier to $15.8 million.
The company’s interest expense dropped almost 50% from a year earlier to $1.5 million. This decline related to the repayment of debt on its credit facilities last fiscal year, Kevin Williams, chief financial officer, said in a press release.
