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Jack Henry & Associates Inc. (JKHY+1.39%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in total revenue to $573,848,000 from $545,701,000 in the same quarter the previous year. This increase was primarily driven by growth in data processing and hosting revenues, card revenue, and payment processing revenues.
Operating expenses for the quarter increased to $450,846,000 from $426,734,000 in the same quarter of the previous year. This increase was attributed to higher personnel costs and direct costs.
The company reported an operating income of $123,002,000 for the quarter, compared to $118,967,000 in the previous year. This increase was primarily driven by organic revenue growth.
Interest income for the quarter was $7,159,000, up from $5,121,000 in the previous year, while interest expense decreased to $2,780,000 from $3,865,000, resulting in a net interest income of $4,379,000.
Net income for the quarter was $97,845,000, up from $91,965,000 in the previous year. The effective tax rate for the quarter was 23.2%, compared to 23.5% in the previous year.
Cash provided by operating activities was $206,543,000 for the six months ended December 31, 2024, while cash used in investing and financing activities was $119,800,000 and $99,374,000, respectively.
The filing also details various financial agreements, including a five-year senior unsecured credit agreement and a term loan credit agreement.
Jack Henry & Associates does not anticipate cash dividend payments to common stockholders in the near future.
The company continues to focus on expanding its private cloud services and payment processing solutions, highlighting its commitment to providing technology solutions and payment processing services to financial institutions.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Jack Henry & Associates Inc. quarterly 10-Q report dated February 7, 2025. To report an error, please email earnings@qz.com.