Business
Jack Henry & Associates, Inc. Reports Second Quarter Fiscal 2020 Results
Year-to-date summary: - GAAP revenue increased 10% and operating income increased 11% for the six months ended December 31, 2019. - Non-GAAP adjusted revenue
About this update from Jack Henry & Associates, Inc.
[{"type":"text","content":"Year-to-date summary:\n - GAAP revenue increased 10% and operating income increased 11% for the six months ended December 31, 2019.\n - Non-GAAP adjusted revenue increased 9% and adjusted operating income increased 8% for the six months ended December 31, 2019.\n - GAAP EPS was $2.10 and $1.96 per diluted share for the six months ended December 31, 2019 and 2018, respectively.\n Second quarter summary:\n - GAAP revenue increased 9% and operating income increased 6% for the quarter.\n - Non-GAAP adjusted revenue increased 8% and adjusted operating income increased 6% for the quarter.\n - GAAP EPS was $0.94 per diluted share for the quarter, compared to $0.88 in the prior year quarter.\n\n\nMONETT, Mo., Feb. 4, 2020 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ: JKHY), a leading provider of technology solutions and payment processing services primarily for the financial services industry, today announced results for the second quarter of fiscal 2020.\nGAAP Results for the Quarter\nRevenue for the quarter ended December 31, 2019 increased to $419.1 million, which is 9% growth over the second quarter of fiscal 2019. Operating income increased 6% to $93.7 million and net income increased 6% to $72.1 million, or $0.94 per diluted share, compared to the second quarter of fiscal 2019. The increase in operating income was driven by organic growth in both our services and support and processing lines of revenue and higher deconversion fees quarter over quarter. The increase in net income is primarily attributable to the growth in both our lines of revenue and higher deconversion fees discussed above.\nFor the six months ended December 31, 2019, revenue increased to $857.1 million, which is 10% growth over the six months ended December 31, 2018. Operating income increased 11% over the prior year-to-date period to $211.9 million. Net income totaled $161.5 million, or $2.10 per diluted share, an increase of 6% compared to the six months ended December 31, 2018. The increase in operating income was driven by organic growth in both our services and support and processing lines of revenue and higher deconversion fees in the year-to-date period over the prior year-to-date period. The increase in net income is primarily attributable to the growth in both our lines of revenue and higher deconversion fees discussed above, partially offset b...