Jack Henry’s earnings rise 11%

Jack Henry & Associates Inc. (Nasdaq: JKHY) boosted its fiscal third-quarter net income by 11 percent to $60 million from $53.9 million a year earlier.

Diluted share earnings for the Monett-based financial industry software firm were 77 cents, compared with 68 cents per share for the three-month period ended March 31, 2016, according to a news release.

“Our sales teams continue to have a very solid year through our third quarter, and our fourth quarter has started out very well as it appears all three brands should exceed their quota targets for the fiscal year,” Jack Henry President and CEO David Foss said in the release, referencing Jack Henry Banking, Symitar and ProfitStars.

Third-quarter financial notes:
    •    Revenue rose 6 percent to $353.8 million.
    •    Cost of sales also increased by 6 percent, moving up to $206.7 million.
    •    Provision for income taxes increased 12 percent to $28.5 million.

As of March 31, Jack Henry had assets of $1.7 billion. The company, which serves more than 10,000 customers, creates technology and payment processing products for the financial services industry, according to the release.

JKHY shares were trading at $96.03 as of 11:03 a.m., compared with a 52-week range of $79 to $98.54.

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