Jack Henry & Associates, Inc. Reports First Quarter Fiscal 2023 Results

About this update from Jack Henry & Associates, Inc.

[{"type":"text","content":"\nMONETT, Mo., Nov. 8, 2022 /PRNewswire/ -- Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading financial technology provider, today announced results for the first quarter ended September 30, 2022.\nFirst quarter summary:\nGAAP revenue increased 8% and GAAP operating income increased 5% for the three months ended September 30, 2022, compared to the prior fiscal year quarter.Non-GAAP adjusted revenue increased 8% and non-GAAP adjusted operating income increased 2% for the three months ended September 30, 2022, compared to the prior fiscal year quarter.1GAAP EPS was $1.46 per diluted share for the three months ended September 30, 2022, compared to $1.38 for the prior fiscal year quarter.Cash at September 30, 2022, was $32 million and $44.3 million at September 30, 2021.Debt related to the revolving credit line was $245 million at September 30, 2022, and $65 million at September 30, 2021.Full-year fiscal 2023 guidance:2\nGAAP revenue $2,092 million to $2,099 millionGAAP operating margin 23.2% to 23.3%GAAP EPS $4.90 to $4.94Non-GAAP revenue $2,045 million to $2,052 million3Non-GAAP operating margin 22.5% to 22.6%3\n \nAccording to David Foss, Board Chair 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 we're seeing significant interest in our new initiatives including our technology modernization strategy, Financial Crimes Defender platform, Banno Business solution, and Payrailz. 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.\"\n1 See tables below reconciling non-GAAP financial measures to GAAP.2 The guidance assumes no additional acquisitions are made during the year.3 See tables below reconciling fiscal year 2023 GAAP to non-GAAP guidance.4 See tables below on page 10 reconciling Net Income to non-GAAP EBITDA.\nOperating Results\nRevenue, operating expenses, operating income, and net income for the three months ended September 30, 2022, compared to the three months ended September 30, 2021, were as follows (all dollar amounts in this section are...

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