Jack Henry records $123M in profits

Jack Henry & Associates Inc. (Nasdaq: JKHY) posted a 10.6% increase in profits during its fiscal third quarter.

The Monett-based financial software company recorded profits of $122.9 million, up from $111.1 million a year earlier, according to a news release. Diluted share earnings rose to $1.71 from $1.52 year over year.

Revenue increased by 8.7% to $636.2 million from $585.1 million.

"We delivered very strong third-quarter financial results, reflecting our differentiated set of modern solutions, unwavering focus on helping banks and credit unions win in the markets they serve and disciplined execution across our business," Jack Henry President and CEO Greg Adelson said in the release. "The sales pipeline is increasing, fueled by increased technology spending and competitive uncertainty, positioning Jack Henry well for driving long-term growth and value creation."

As of March 31, Jack Henry's assets were $3.1 billion. The company has roughly 7,400 financial industry clients.

JKHY shares were trading at $144.40 as of 9 a.m., compared with a 52-week range of $141.81 to $193.39 per share.