Business
Jack Henry & Associates, Inc. Reports Third Quarter Fiscal 2022 Results
MONETT, Mo., May 3, 2022 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ: JKHY), a leading provider of technology solutions and payment processing
About this update from Jack Henry & Associates, Inc.
[{"type":"text","content":"\nMONETT, Mo., May 3, 2022 /PRNewswire/ -- 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 third quarter of fiscal 2022 and discusses its continued response to the novel coronavirus (COVID-19) pandemic (page 8 below).\nYear to date summary:GAAP revenue increased 12% and operating income increased 23% for the nine months ended March 31, 2022 compared to the prior-year period.Non-GAAP adjusted revenue increased 9% and non-GAAP adjusted operating income increased 14% for the nine months ended March 31, 2022 compared to the prior-year period.1GAAP EPS was $3.84 per diluted share for the nine months ended March 31, 2022, compared to $3.08 per diluted share in the prior-year period.Cash at March 31, 2022 was $39.8 million and $70.1 million at March 31, 2021.Debt related to the revolving credit line was $225 million at March 31, 2022 and $200 million at March 31, 2021.Third quarter summary:GAAP revenue increased 10% and operating income increased 22% for the quarter compared to the prior-year quarter.Non-GAAP adjusted revenue increased 7% and non-GAAP adjusted operating income increased 11% for the quarter compared to the prior-year quarter.1GAAP EPS was $1.16 per diluted share for the quarter, compared to $0.95 per diluted share in the prior-year quarter.Full-year fiscal 2022 guidance:GAAP revenue $1,939 million to $1,942 millionGAAP EPS $4.80 to $4.85Non-GAAP revenue $1,889 million to $1,892 million2\nAccording to David Foss, Board Chair and CEO, \"We are very pleased to report another quarter of revenue growth and overall strong financial performance. We continue to experience great demand for Jack Henry financial technology solutions in the markets we serve. The technology modernization strategy we shared publicly in February has been received very positively by the industry, and we're excited about the opportunities this strategy creates for our clients, their accountholders, and our company. As a well-rounded financial technology company, we are dedicated to strengthening connections between community and regional financial institutions and the people and businesses they serve.\"\n1 See tables below reconciling non-GAAP financial measures to GAAP.\n2 See tables below reconciling f...