Amended: deletes " on lower profit" in the first sentence of the intro.
Jack Henry & Associates Inc. (JKHY), an integrated computer systems provider for in-house and outsourced data processing, Tuesday reported an increase in fourth quarter profit and revenues, driven by licensing, support and service segments.
For the fourth quarter, Jack Henry's net income was $27.81 million or $0.33 per share, compared to $24.92 million or $0.29 per share in the same quarter a year ago. Income from continuing operations was $27.81 million, compared to $25.30 million in the prior-year quarter.
On average, twelve analysts polled by Thomson Reuters expected the company to report earnings of $0.30 per share for the quarter. Analysts' estimate typically exclude one-time items.
Total revenue for the quarter increased to $191.88 million from $188.70 million in the same quarter a year ago, surpassing Street estimates of $184.66 million.
License revenue was $17.6 million, or 9% of total revenue, Support and service revenue increased 5% to $155.4 million, or 81% of total revenue, while Hardware sales decreased 13% to $18.9 million, or 10% of total revenue,
Operating expenses decreased to $35.65 million from $36.45 million in the year-earlier quarter. Operating income was $43.61 million, compared to $39.21 million in the year-ago quarter.
For the full-year, net income decreased to $103.10 million or $1.22 per share from $104.22 million or $1.16 per share last year. Revenue for the year rose to $745.59 million from $742.93 million a year ago. The Street expected earnings of $1.18 per share on revenues of $738.10 million for the year.
JKHY closed Tuesday's regular trading at $22.09, up $0.16 or 0.73%, on a volume of 0.67 million shares. In after-hours, the stock dropped $0.77 or 3.49%, to trade at $21.32.
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