Jack Henry & Associates Inc. in Monett, Mo., reported that its fiscal second-quarter net income rose 7%, to $38.5 million, from a year earlier because of increased revenue from support and services.
The technology and payment processing provider also said Tuesday that for the first six months of its fiscal year that its net income increased 11% to almost $75 million. For the second quarter that ended Dec. 31, Jack Henry’s revenue totaled $255.9 million, up more than 5% from a year earlier.
The company’s second-quarter support and service revenue climbed 6%, to $225.6 million, from a year earlier. Within this area, the largest growth was in electronic payment services.
Second-quarter hardware sales totaled $16.7 million, a 13% increase from a year earlier, while license revenue slid 12% to $13.6 million. Jack Henry’s second-quarter operating expenses declined 3%, to $46.6 million, from a year earlier because of decreased general and administrative expenses.