(RTTNews) - Tuesday, integrated computer systems provider, Jack Henry & Associates Inc. (JKHY: News ) said that its profit for the first quarter increased from the previous year quarter on lower expenses.

The company posted first quarter net income of $26.3 million or $0.31 per share, compared to $22.5 million or $0.26 per share in the same quarter a year ago.

On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of $0.30 per share. Analysts' estimates typically exclude special items.

Total revenue for the quarter was $182.3 million, compared to $183.1 million in the same quarter a year-ago. Analysts expected revenues of $188.79 million.

For the first quarter of 2010, the bank systems and services segment revenue increased to $150.4 million, with a gross margin of 41%, from $149.9 million in revenue with a gross margin of 39% in the first quarter in fiscal 2009.
Operating expenses decreased 12% to $32.5 million for the first quarter of fiscal 2010 from $36.9 million for the same quarter a year ago, primarily due to decreased employee-related expenses.

Operating income increased to $42.0 million, or 23% of revenue for the first quarter of fiscal 2010, compared to $35.6 million, or 19% of revenue, a year ago.

JKHY closed Tuesday's regular trading at $23.20 up $0.22 or 0.96% on a volume of 0.592 million shares o the Nasdaq.

To receive FREE breaking news email alerts for Jack Henry & Associates Inc and others in your portfolio

by RTT Staff Writer

For comments and feedback: contact editorial@rttnews.com