Jack Henry and Associates, Inc., a leading provider of integrated technology solutions and outsourced data processing for financial institutions, headquartered in Monett, has announced fiscal 2009 results.
Total revenue remained even compared to the prior fiscal year at $746.6 million. Gross profit fell 3 percent to $299.4 million. Income from continuing operations decreased 2 percent from the prior fiscal year at $103.1 million. Net income fell 1 percent compared to the prior fiscal year at $103.1 million.
For the same quarter which ended June 30, the company generated total revenue of $191.9 million, compared to $188.7 million in the same quarter a year ago. Gross profit increased to $79.3 million, compared to $75.7 million in the fourth quarter of the last fiscal year.
Income from continuing operations increased 10 percent to $278.8 million. Net income in the current year was also $27.8 million, or 33 cents per diluted share, compared to $24.9 million, or 28 cents per diluted share, in the same quarter a year ago.
"In a year of unprecedented challenges, we maintained a long-term focus on the operation of our business and delivered increased earnings per share to our stockholders," said Jack Prim, chief executive officer of Jack Henry.
"We enter fiscal 2010 with a strong balance sheet, a focused strategy, and a cautiously optimistic outlook for the new year," Prim continued. "We will continue to maintain a balanced focus on cost control and reduction, and investment in growth oriented business initiatives."
Tony Wormington, president of Jack Henry, stated, "Despite the recession's impact on our ability to earn new customers and expand existing customer relationships at historic levels, our solid balance sheet, conservative business principles, recurring revenue, long-term contracts, large and loyal customer base, and diversified product offering enabled us to continue to generate solid financial results during fiscal year 2009.
"For 33 years, our company has prospered in a highly competitive and consolidating industry and weathered various economic cycles by constantly focusing on providing high quality, technology-driven products and services backed by superior levels of customer care," Wormington said. "Through this most recent economic downturn and its impact on our financial performance, our strategic focus has not changed and each of our three brands continues to execute its successful business strategy."
Kevin Williams, chief financial officers, said the company's focus on expense reduction positively impacted the Jack Henry's fiscal year's financial performance. "Our managers and our associates looked for every opportunity to reduce near and long-term expenses, and we implemented an array of containment initiatives," Williams said.
"We believe the results of these efforts were very successful expecially when you consider license revenue was down 21 percent and hardware revenue was down 18 percent compared to the prior year, and that both our gross and operating margins only decreased by 1 percent," Williams added. "We will all continue to focus on cost controls in every area of the organization in an ongoing effort to maintain and ultimately improve margins."
Jack Henry and Associates Inc. is a leading provider of integrated computer systems and processor of automatic teller machine/debit card/ACH transactions for banks and credit unions. The company markets and supports its systems throughout the United States, and has more han 9,800 customers nationwide.