Jack Henry & Associates Ends Fiscal 2017 With 6% Increase In Revenue

MONETT, Mo., Aug. 15, 2017

Revenue for the quarter ended June 30, 2017 increased to $383.8 million, a 5% increase over the fourth quarter of fiscal 2016.  Gross profit also increased 2% to $164.4 million.  Net income decreased 23% to $64.7 million, or $0.83 per diluted share, due to the gain on the sale of Alogent recognized in the fourth quarter of fiscal 2016, coupled with lower deconversion fees in the fourth quarter of fiscal 2017 compared to the same period of the prior year.

Revenue for the year ended June 30, 2017 increased 6% over the year ended June 30, 2016 to $1,431.1 million, with a gross profit increase of 5% to $612.1 million. Net income totaled $245.8 million, a decrease of 1% over the prior year-to-date period, with diluted earnings per share of $3.14.  The decrease in net income was due to the gain on the sale of Alogent in the prior year. 

According to David Foss, President and CEO, "As we wrap up our FY'17, we are pleased to report another year of record revenue and operating income.  Our combined sales organization ended their year ahead of plan and our sales pipeline is very strong which should position us well for next year.  Additionally, we are pleased that both our employee engagement and customer satisfaction scores continue to be very solid as we enter FY'18."

Operating Results

Revenue, cost of sales, and gross profit results for the quarter and year ended June 30, 2017 were as follows: