Business
Jack Henry & Associates, Inc. Reports First Quarter Fiscal 2022 Results
MONETT, Mo., Nov. 8, 2021 /PRNewswire/ -- First quarter summary: GAAP revenue increased 8% and operating income increased 14% for the quarter compared to the
About this update from Jack Henry & Associates, Inc.
[{"type":"text","content":"MONETT, Mo., Nov. 8, 2021 /PRNewswire/ -- \nFirst quarter summary:\nGAAP revenue increased 8% and operating income increased 14% for the quarter compared to the prior-year quarter. Non-GAAP adjusted revenue increased 9% and non-GAAP adjusted operating income increased 16% for the quarter compared to the prior-year quarter.1 GAAP EPS was $1.38 per diluted share for the quarter, compared to $1.19 per diluted share in the prior-year quarter. Cash at September 30, 2021 was $44.3 million and $195.3 million at September 30, 2020. Debt related to the revolving credit line was $65 million at September 30, 2021 and zero at September 30, 2020.Full-year fiscal 2022 guidance:\nGAAP revenue $1,910 million to $1,919 million GAAP EPS $4.64 to $4.73 Non-GAAP revenue $1,866 million to $1,875 million2 \n \n\nJack Henry & Associates, Inc. (NASDAQ: JKHY), a leading provider of technology solutions and payment processing services primarily for the financial services industry, today announces results for the first quarter of fiscal 2022 and discusses its continued response to the novel coronavirus (COVID-19) pandemic.3 \nAccording to David Foss, Board Chair, President and CEO, \"We are very pleased to report another quarter of record revenue and an overall strong performance for the first quarter of our new fiscal year. Our sales teams continue to see strong demand for Jack Henry technology solutions and they are currently working a solid pipeline of requests for proposals and contracts. Today, as a well-rounded financial technology company, we continue to invest in a modern technology infrastructure that is cloud-native, digitally centric, open and scalable in order to deliver the speed and agility that our clients require. This infrastructure, when applied to our digital, payments, lending, risk, and core platforms, helps community and regional financial institutions innovate faster, differentiate strategically, and compete successfully while serving the evolving needs of their accountholders.\"\n1 See tables below reconciling non-GAAP financial measures to GAAP.\n2 See tables below reconciling fiscal year 2022 GAAP to non-GAAP guidance.\n3 See \"COVID-19 Impact and Response\" below.\n4 See tables below on page 9 reconciling Net Income to non-GAAP EBITDA.\nOperating Results\nRevenue, operating expenses, operating income, and net income for the thre...