Thursday October 16 7:01 AM EDT
Company Press Release
Jack Henry & Associates Reports First Quarter Results
MONETT, Mo., Oct. 16 /PRNewswire/ -- Jack Henry & Associates, Inc. (Nasdaq:JKHY) today reported first quarter results for fiscal 1998. The
quarter tied the record for earnings per share from continuing operations. This is the 31st consecutive quarter of earnings increase from
continuing operations on a year-to-year comparison.
Net income from continuing operations for the first quarter ended September 30, 1997 was $4,427,000, or $.23 per share, on revenues of
$20,059,000, compared to $3,803,000, or $.20 per share, on revenues of $18,350,000 in the came period last year. This represents a 15% increase in
earnings per share on a 9% increase in revenues for the first quarter comparison. The loss from discontinued BankVision operations was
$261,000, or $.02 per share compared to no income or loss in the same period last year. Net income was $4,166,000, or $.21 per share, compared
to $3,803,000, or $.20 per share last year. The backlog of sales at September 30, 1997, was $32,550,000.
Jack Henry & Associates, Inc. provides integrated computer systems and ATM networking products for banks and other financial institutions.
JHA markets and supports its systems throughout the United States. The company has over 1450 customers nationwide.
JACK HENRY & ASSOCIATES, INC.
CONDENSED CONSOLIDATED FINANCIAL INFORMATION
(In Thousands, Except Per Share Data)
(Unaudited)
Quarter Ended
CONDENSED STATEMENT OF INCOME September 30,
1997 1996 *
Revenues:
Software licensing
& installation $6,122 $5,833
Maintenance/support
& service 8,509 6,277
Hardware sales &
commissions 5,428 6,240
Total revenues $20,059 $18,350
Cost of sales:
Cost of hardware 3,395 4,318
Cost of services 5,423 4,025
Total cost of sales $8,818 $8,343
Gross profit $11,241 $10,007
56% 55%
Operating expenses:
Selling and marketing 2,172 2,202
Research and development 671 523
General and administrative 1,800 1,381
Total operating expenses $4,643 $4,106
Operating income $6,598 $5,901
Other income:
Interest income 278 177
Other, net 111 74
Total other income $389 $251
Income before income taxes $6,987 $6,152
Provision for income taxes 2,560 2,349
Income from continuing
operations $4,427 $3,803
Loss from discontinued
operations 261 ---
Net income $4,166 $3,803
Per share data:
Income from continuing
operations $ .23 $ .20
Loss from discontinued
operations .02 --
Net income $ .21 $ .20
Weighted Average Shares
Outstanding 19,533 19,040
* Adjusted for split
CONDENSED BALANCE SHEET
September 30,
1997 1996
Current assets $41,780 $25,421
Property and equipment, net 22,930 16,705
Intangible assets, net 16,250 18,042
Other assets, net 912 618
Total assets $81,872 $60,786
Current liabilities $24,174 $18,803
Deferred income taxes 2,048 1,732
Stockholders' equity 55,650 40,251
Total liabilities and
stockholders' equity $81,872 $60,786
SOURCE Jack Henry & Associates, Inc. |
