Business
Jack Henry & Associates, Inc. Reports Fiscal 2020 Results
MONETT, Mo., Aug. 18, 2020 /PRNewswire/ -- Fiscal year summary: GAAP revenue increased 9% and operating income increased 10% for the year ended June 30, 2020.
About this update from Jack Henry & Associates, Inc.
[{"type":"text","content":"MONETT, Mo., Aug. 18, 2020 /PRNewswire/ -- \nFiscal year summary: GAAP revenue increased 9% and operating income increased 10% for the year ended June 30, 2020. Non-GAAP adjusted revenue increased 7% and adjusted operating income increased 5% for the year ended June 30, 2020. GAAP EPS was $3.86 and $3.52 per diluted share for the years ended June 30, 2020 and 2019, respectively. Cash at June 30, 2020 was $213.3 million, an increase of 128% compared to June 30, 2019. Debt related to the revolving credit line and other lines of credit was zero for the years ended June 30, 2020 and 2019.Fourth quarter summary: GAAP revenue increased 4% and operating income decreased 3% for the quarter compared to the prior-year quarter. Non-GAAP adjusted revenue increased 4% and adjusted operating income decreased 2% for the quarter compared to the prior-year quarter. GAAP EPS was $0.80 per diluted share for the quarter, compared to $0.79 in the prior-year quarter.Full-year fiscal 2021 GAAP guidance: GAAP revenue $1,750 million to $1,770 million (assumes deconversion fee decrease of $33 million) GAAP EPS $3.70 to $3.75 Non-GAAP revenue growth 5.5% to 6.5% Jack 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 fourth quarter of fiscal 2020 and discusses its continued response to the novel coronavirus (COVID-19) pandemic.\nAccording to David Foss, President and CEO, \"We are very pleased to report another quarter of record revenue to finish off a very solid year of financial performance for our company. Despite the challenges associated with conducting business in the midst of a global pandemic, our sales teams persevered and set a monthly sales record in June and a quarterly sales record in our fiscal fourth quarter. At the same time, our operations teams continued to deliver new solutions and outstanding customer service for our clients. Even in the current business environment, the resiliency of our business model and the ongoing commitment of our associates have put us in a position to continue to successfully execute as we look forward to the new fiscal year.\"\nGAAP Results for the Quarter and Year\nRevenue for the quarter ended June 30, 2020 increased to $410.5 million, which is 4% growth over the fou...