11 December 2017
visit www.aciworldwide.com

Jack Henry Q3 net profit slips

06 May 2009  |  5158 views  |  0 Financial Graph on screen

US Fintech vendor Jack Henry & Associates says third quarter revenues and profits were down on the same period the previous year, as "headwinds" on discretionary spending hit hardware and license fees.

Revenue for the quarter was $180.4 million, down four per cent from $187.5 million. Gross profit slipped seven per cent to $70.2 million, with net profit also falling by seven per cent to $24.8 million. Earnings per share were flat at $0.30.

For the nine months, revenue was flat at $553.7 million, with net profit down five per cent at $75.3 million.

License revenue for Q3 was down 31%, to $12.7 million, on the same period the previous year, with hardware revenue down 22% to $15.8 million. However, revenue from support and services was up two per cent to $151.8 million.

Jack Prim, CEO, Jack Henry, says cost cutting measures implemented at the end of the fourth quarter have helped buffer the firm but warns that "additional measures" will now be put in place.

"While the near term economic outlook remains cloudy we will continue to manage the business in what we believe to be the best long term interests of stockholders, customers and employees," says Prim.

View Jack Henry data here.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Jack Henry and The Innovation Group lead Finextra50 lower

Jack Henry and The Innovation Group lead Finextra50 lower

26 August 2008  |  4426 views  |  0 comments
Poor results for ACI and Jack Henry lead Finextra50 down 2.7%

Poor results for ACI and Jack Henry lead Finextra50 down 2.7%

12 May 2008  |  4247 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.response.ncr.comvisit www.aciworldwide.comvisit www.solutions.lexisnexis.com

Top topics

Most viewed Most shared
Revolut lets customers buy Bitcoin, Litecoin and EthereumRevolut lets customers buy Bitcoin, Liteco...
18128 views comments | 26 tweets | 22 linkedin
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
11037 views comments | 7 tweets | 6 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
6708 views comments | 13 tweets | 20 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
6417 views comments | 8 tweets | 17 linkedin
Barclays, First Direct and Nationwide join FCA sandbox cohortBarclays, First Direct and Nationwide join...
5826 views comments | 5 tweets | 12 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job