Jack Henry & Associates, Inc. (NASDAQ:JKHY), a leading provider of integrated technology solutions and outsourced data processing for financial institutions, today announced fiscal 2006 results.
Total revenue increased 11 percent over prior fiscal year to $592.2 million, gross profit grew 15 percent to $256.4 million, and net income increased to $89.9 million or 19 percent over the prior fiscal year.
For the quarter ended June 30, 2006, the company generated total revenue of $162.3 million compared to $141.4 million in the same quarter a year ago. Gross profit increased to $70.7 million compared to $59.9 million in the fourth quarter of last fiscal year. Net income totaled $25.4 million, or $0.27 per diluted share, compared to $21.7 million, or $0.23 per diluted share in the same quarter a year ago.
In fiscal 2006, total revenue was $592.2 million compared to $535.9 million in fiscal 2005. Gross profit increased to $256.4 million compared to $222.5 million during last fiscal year. Net income for the current year was $89.9 million, or $0.96 per diluted share, compared to $75.5 million, or $0.81 per diluted share for the prior year.
According to Jack Prim, CEO, "We are pleased to announce record revenues and net income for the quarter and year. Our revenue growth of 15% in the quarter was primarily organic, led by core system sales to mid-tier financial institutions, and by strong continued growth in our electronic processing services including ATM/Debit Card, bill payment and remote deposit. Our performance for the year was solid with 11% growth in revenues. Our manager's strong focus on the business enabled us to leverage that revenue growth into a 19% increase in net income and EPS. At the same time our employees continued focus on our customers allowed us to further improve on our industry leading customer satisfaction ratings."
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