Jack Henry 4Q Profit Up 12 Percent

MONETT, Mo. (AP) — Shares of Jack Henry & Associates Inc. surged above the previous 52-week high on Wednesday after the company posted improved fiscal fourth-quarter profit, which beat Wall Street estimates.

The data processing equipment and services provider for financial firms said its profit for the fourth quarter rose 12 percent to $27.8 million, or 33 cents per share, from $24.9 million, or 28 cents per share, a year ago.

Revenue rose 2 percent to $191.9 million from $188.7 million the year before.

Analysts polled by Thomson Reuters expected 30 cents per share on revenue of $184.7 million.

Support and service revenue, which accounted for 81 percent of total revenue for the quarter, increased 5 percent to $155.4 million. That included ATM/debit card processing, bill pay and other transaction processing services.

Shares climbed $1.52, or 6.9 percent, to $23.61, surpassing the previous 52-week high of $23.08.

For the fiscal year ended June 30, the company saw profit fall 1 percent to $103.1 million, or $1.22 per share, from $104.2 million, or $1.16 a share.

Revenue rose slightly to $745.6 million compared with $742.9 million in fiscal 2008.

The company enters 2010 with a strong balance sheet and cautious optimism, CEO Jack Prim said in a statement.

"We will continue to maintain a balanced focus on cost control and reduction, and investment in growth oriented business initiatives," he said.