Jack Henry reports drop in revenue
5/8/09
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From staff reports
news@joplinglobe.com
MONETT, Mo. - Jack Henry & Associates on Thursday reported third-quarter fiscal 2009 results, including a 4 percent decrease in revenue and a 7 percent decrease in net income compared with figures for the third quarter of fiscal 2008.
For the first nine months of fiscal 2009, revenue remained flat compared with that of the same period a year ago. Net income decreased 5 percent for the nine-month period compared with last year's figures.
For the quarter that ended March 31, Jack Henry generated total revenue of $180.4 million, compared with $187.5 million in the same quarter a year ago. Net income totaled $24.8 million, or 30 cents per share, compared with $26.6 million, also 30 cents per share, in the same quarter a year ago.
For the first nine months of fiscal '09, total revenue came to $553.7 million, compared with $554.2 million for the first nine months of fiscal 2008. Net income for the nine months hit $75.3 million, or 89 cents per share, compared with $79.3 million, or 88 cents per share, for the same nine months a year earlier.
Jack Prim, chief executive officer, said in a statement: "We continued to see significant headwinds during the quarter on discretionary spending related to hardware and license fees. The cost controls that we implemented at the end of the fourth quarter with the full participation of our employee base helped buffer these shortfalls to some extent and allowed us to maintain strong gross and operating margins."
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