Business
Jack Henry & Associates, Inc. Reports Third Quarter Fiscal 2020 Results
MONETT, Mo., May 4, 2020 /PRNewswire/ -- Year-to-date summary: GAAP revenue increased 11% and operating income increased 13% for the nine months ended March
About this update from Jack Henry & Associates, Inc.
[{"type":"text","content":"MONETT, Mo., May 4, 2020 /PRNewswire/ -- \nYear-to-date summary: GAAP revenue increased 11% and operating income increased 13% for the nine months ended March 31, 2020. Non-GAAP adjusted revenue increased 9% and adjusted operating income increased 7% for the nine months ended March 31, 2020. GAAP EPS was $3.06 and $2.72 per diluted share for the nine months ended March 31, 2020 and 2019, respectively.Third quarter summary: GAAP revenue increased 13% and operating income increased 20% for the quarter. Non-GAAP adjusted revenue increased 9% and adjusted operating income increased 6% for the quarter. GAAP EPS was $0.96 per diluted share for the quarter, compared to $0.77 in the prior year quarter.Full-year fiscal 2020 GAAP guidance: Revenue $1,695 to $1,702 million EPS $3.83 to $3.85Fourth quarter fiscal 2020 GAAP guidance: Revenue $408 to $415 million EPS $.77 to $.79Jack 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 third quarter of fiscal 2020 and discusses its response to the novel coronavirus (COVID-19) pandemic.\nAccording to David Foss, President and CEO, \"We are very pleased to report another record quarter of revenue, operating income and net income. We continued to see strong demand for our Jack Henry technology solutions through the third fiscal quarter and total sales bookings are now running 12% ahead of last year's record pace. As we look forward to the coming months, we do expect some impact on sales bookings and revenue due to COVID-19, but there is no way for us to fully predict the impact on our business or our customers. With that in mind we will continue to focus on taking care of our associates and customers, while at the same time maintaining our strong financial position and preparing for continued growth in the future. I would like to thank all of our associates for their commitment to our customers during these challenging times. Since the onset of this pandemic, the Jack Henry team has moved mountains to address the unprecedented needs of our customers while at the same time demonstrating unwavering commitment to each other and our communities. They have weathered this storm with grace and passion.\"\nGAAP Results for the Quarter and Year to Date\nRevenue for...