Business
Jack Henry & Associates, Inc. Reports Third Quarter Fiscal 2023 Results
Fiscal year-to-date summary: GAAP revenue increased 6% and GAAP operating income decreased 4% for the nine months ended March 31, 2023, compared to the
About this update from Jack Henry & Associates, Inc.
[{"type":"text","content":" \n\nFiscal year-to-date summary:\nGAAP revenue increased 6% and GAAP operating income decreased 4% for the nine months ended March 31, 2023, compared to the prior-year period.Non-GAAP adjusted revenue increased 8% and non-GAAP adjusted operating income increased 5% for the nine months ended March 31, 2023, compared to the prior-year period.1GAAP EPS was $3.68 per diluted share for the nine months ended March 31, 2023, compared to $3.84 in the prior-year period.Cash, was $27 million at March 31, 2023, and $40 million at March 31, 2022.Debt related to the revolving credit line was $375 million at March 31, 2023, and $225 million at March 31, 2022.Third quarter summary:\nGAAP revenue increased 6% and GAAP operating income decreased 3% for the three months ended March 31, 2023, compared to the prior-year period.Non-GAAP adjusted revenue increased 8% and non-GAAP adjusted operating income increased 11% for the three months ended March 31, 2023, compared to the prior-year period.1GAAP EPS was $1.12 per diluted share for the three months ended March 31, 2023, compared to $1.16 for the prior-year period.Full-year fiscal 2023 guidance:2\nGAAP (compared to second quarter guidance)\nRevenue increases to $2,050 million to $2,057 million.Operating margin increases to 22.9% to 23.1%.EPS increases to $4.85 to $4.87.Non-GAAP3\nAdjusted revenue $2,021 million to $2,028 million.3Adjusted operating margin 22.8% to 22.9%.3\n \nMONETT, Mo., May 2, 2023 /PRNewswire/ -- Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading financial technology provider, today announced results for the fiscal third quarter ended March 31, 2023.\nAccording to David Foss, Board Chair and CEO, \"We are very pleased to report another quarter of revenue growth and an overall strong financial performance. Despite the disruptions in the banking industry, we continue to experience great demand for Jack Henry financial technology solutions. Our sales teams produced an all-time record Q3 bookings quarter, and our sales pipeline is now larger than at any time in the history of our company. Most of the banks and credit unions that support Main Street America are Jack Henry clients. They are essential to the economic success of local communities, and we continue to focus on our stated mission to help strengthening connections between community and regional financial institutions...