Jack Henry Profit Climbs on Processing Revenues
Jack Henry & Associates made $47.7 million in its fiscal fourth quarter ended June 30, 9% more than a year earlier, as revenues grew in the vendor's transaction processing business.
Earnings per share of 55 cents beat the average estimate of analysts by about four cents.
The Monett, Mo., provider of core banking technology said its revenues grew nearly 12% to $298.1 million. Revenues from the payment services business which processes ATM, debit and credit transactions grew 16% to $15 million.
"A year ago for the first time we closed the fiscal year with over $1 billion in total revenue and company market capitalization of over $3 billion," said Jack Henry's chief executive, Jack Prim, in a press release issued Tuesday after the market closed. "This year we followed that performance with double digit organic revenue growth and market cap of over $4 billion. We delivered a balanced performance that benefitted our shareholders, customers and employees."
For the full fiscal year, Jack Henry's net income rose 14% to $176.6 million.