Jack Henry Q1 revenues and earnings rise

Source: Jack Henry & Associates

Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated technology solutions that performs data processing for financial institutions, today announced first quarter fiscal 2007 results with a 10% increase in revenue, an increase of 12% in gross profit which resulted in a 10% rise in net income over the first quarter of fiscal 2006.

For the quarter ended September 30, 2006, the company generated total revenue of $150.6 million, compared to $137.0 million in the same quarter a year ago. Gross profit increased to $63.3 million compared to $56.6 million in the first quarter of fiscal 2006. Net income totaled $21.4 million, or $0.23 per diluted share, compared to $19.4 million, or $0.21 per diluted share in the same quarter a year ago.

According to Jack Prim, CEO, "We are pleased with our performance in the quarter which saw solid organic growth and continued strong growth in the recurring revenue components of our support and services offerings. Our National User Group meeting in Orlando last week had record attendance with over 1,500 bankers. Several new products and partnerships were introduced to this audience and received a strong reception which we believe bodes well for the sales environment, particularly in the last half of the fiscal year."

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