Jack Henry & Associates Fiscal 2004
Net Income Increases 26% -- Stock Up 42.3%
07/30/2004
How Jack Henry & Associates has done for us: +42.3% from
the time we recommended the stock, including a 10.7% jump
this week. The company announced their recent quarterly results
on Tuesday: net income increased 26% as revenue jumped to
$126 million for the quarter just ended. The company's press
release follows:
MONETT, Mo., July 27 /PRNewswire-FirstCall/
-- Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading
provider of integrated technology solutions that performs
data processing for financial institutions, today reported
strong results with revenues rising 15% for the fourth quarter
and 16% for the fiscal year ended June 30, 2004. Gross profit
and margins continue to improve and have contributed to a
25% increase in net income for the fourth quarter and a 26%
increase in net income for fiscal year 2004.
Net income totaled $17.6 million, or $0.19
per diluted share, while revenues increased 15% to $126.0
million for the fourth quarter of fiscal 2004. A year ago,
the fourth quarter net income was $14.1 million, or $0.16
per diluted share on revenues of $109.2 million. For fiscal
year 2004, net income increased 26% to $62.3 million, or $0.68
per diluted share, compared to $49.4 million or $0.55 per
diluted share for the fiscal year ended June 2003. Revenues
increased 16% to $467.4 million for fiscal year 2004 compared
to $404.6 million for fiscal 2003.
Fiscal 2004 Highlights
"Jack Henry had an exceptional year
in fiscal 2004, posting record revenues, earnings and operating
cash flow," said Michael E. Henry, Chairman. "The
16% increase in revenue was leveraged to a 26% increase in
net income primarily due to the efforts of our employees to
control costs, utilization of existing infrastructure and
continuing to improve processes and procedures. I am very
proud of our employees and of our company's position for future
success."
"Contributing to the strong fiscal
year was an increase of 30% in license revenue compared to
last year and continued growth in our support and services
revenue which increased 20% this year and primarily is recurring
revenue. Our credit union segment had a very impressive year
with a 39% increase in revenue while expanding gross margins
from 30% a year-ago to 39% this year," said Jack F. Prim,
CEO. "We expect this growth to continue as we expand
our geographic footprint for outsourcing, complete the integration
of our recent acquisitions and continue to see improvements
from the realignment of our sales force a year ago."
About Jack Henry & Associates
Jack Henry & Associates, Inc. provides
integrated computer systems and processes ATM and debit card
transactions for banks and credit unions. Jack Henry markets
and supports its systems throughout the United States and
has over 3,500 customers nationwide. For additional information
on Jack Henry, visit the company's web site at http://www.jackhenry.com
. The company will hold a conference call on July 28th at
7:45 a.m. Central Time and investors are invited to listen
at http://www.jackhenry.com .
Statements made in this news release
that are not historical facts are forward-looking information.
Actual results may differ materially from those projected
in any forward-looking information. Specifically, there are
a number of important factors that could cause actual results
to differ materially from those anticipated by any forward-looking
information. Additional information on these and other factors,
which could affect the Company's financial results, are included
in its Securities and Exchange Commission (SEC) filings on
Form 10-K, and potential investors should review these statements.
Finally, there may be other factors not mentioned above or
included in the Company's SEC filings that may cause actual
results to differ materially from any forward-looking information.
The full press release can be found
at http://www.jackhenry.com
SOURCE Jack Henry & Associates, Inc.
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