Jack Henry Associates, Inc. (JKHY) has reported 0.90 percent fall in profit for the quarter ended Dec. 31, 2016. The company has earned $58.81 million, or $0.75 a share in the quarter, compared with $59.35 million, or $0.74 a share for the same period last year. Revenue during the quarter grew 4.71 percent to $348.55 million from $332.87 million in the previous year period. Gross margin for the quarter expanded 36 basis points over the previous year period to 43.15 percent. Total expenses were 74.58 percent of quarterly revenues, up from 74.53 percent for the same period last year. That has resulted in a contraction of 5 basis points in operating margin to 25.42 percent.
Operating income for the quarter was $88.61 million, compared with $84.79 million in the previous year period.
According to David Foss, president and chief executive officer, "We are pleased to report another record second quarter of revenue and operating income growth, both in line with our previous guidance. Our combined sales teams had another solid quarter in Q2 and theyre off to a good start in Q3. Id like to thank all of our associates, customers and partners who participated in celebrating our 40th anniversary throughout 2016. We concluded those celebrations in November when we rang the opening bell at NASDAQ."
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