Community bank systems developer Jack Henry & Associates Inc. last week reported higher earnings for its second fiscal quarter of 1995, the 20th consecutive quarter of year-to-year earnings growth.
Net income for the three months ended Dec. 31, was $2.0 million, or 17 cents per share, compared to $1,672,000, or 14 cents per share, in the same period in 1993.
Revenues for the quarter reached $11.4 million, compared with $10.1 million in the year-earlier quarter.
The earnings per share equalled to the highest analyst estimates for the period, Jack Henry officials said.
Officials at the Monett, Mo.-based firm said the results reflected a 36% increase in software and installation revenue and a 51% increase in maintenance, support, and service revenues.
The mix in revenues being more heavily weighted toward software and services was a major contributor to the increase in Jack Henry's gross profit, up to 53% from last year's 43% level. The trend of software and services taking up a larger portion of total revenues is expected to continue, officials said.
Mike Henry, chairman of the board, said he expects the board of directors to continue its current quarterly dividend policy. The last quarterly dividend of five cents per share was paid on Dec. 15.