Jack Henry Unfazed by Financial Market Woes in Fiscal Q2

February 18, 2008 Timothy Prickett Morgan

Maybe sometimes it is not so bad to be a midrange company and to serve customers in credit unions and savings and loan banks. Financial application software and System i hardware vendor Jack Henry & Associates has not seen much of an effect in its fiscal second quarter financial results from the global financial services meltdown associated with bad mortgages written in the United States.

Jack Henry recently reported its financial results for the second quarter of fiscal 2008, ended December 31, booking $192.2 million in sales, up 15 percent, with gross profits of $84.8 million, up 16 percent. Costs rose a bit, however, and net income only rose by 5 percent, to $29.2 million, in the December quarter. For the first six months of fiscal 2008, Jack Henry has booked $367.6 million in sales, up 15.6 percent, with net income of $52.7 million, up 10.7 percent.

“We are pleased to announce another strong quarter with new records for revenue and net income,” said Jack Prim, the company’s chief executive officer, in a statement accompanying the financial results. “We experienced solid growth in both our banking and credit union segments with bank revenue increasing 14 percent and credit union revenue increasing 18 percent for the quarter compared to a year ago. In addition to this strong revenue growth, our gross margins remained relatively level in the bank segment at 44 percent, while our gross margins in the credit union segment increased to 45 percent this year compared to 39 percent a year ago quarter, reflecting continued strong license fee revenue in this segment.”

Jack Henry’s software licensing revenue during the second fiscal quarter was up 9.9 percent in the quarter, to $23.3 million, while support and services sales jumped 17 percent to $145.3 million. Hardware sales–which include System i servers as well as other gear used by banks and credit unions, accounted for $23.6 million in sales, up 8.3 percent.

Jack Henry Acquires Gladiator Technology

Jack Henry Closes 15 Deals for Opening Act

Jack Henry Sees 10 Percent Revenue and Profit Growth in Fiscal Q1

Texas Bank Licenses Core Banking System from Jack Henry

Jack Henry’s Revenues Increase Thanks to Support and Services

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Tags: Tags: mtfh_rc, Volume 17, Number 7 -- February 18, 2008

CYBER-ATTACKS ON THE RISE. PROTECT WITH THE TRIPLE PLAY.

COVID-19 has not only caused a global pandemic, but has sparked a “cyber pandemic” as well.

“Cybersecurity experts predict that in 2021, there will be a cyber-attack incident every 11 seconds. This is nearly twice what it was in 2019 (every 19 seconds), and four times the rate five years ago (every 40 seconds in 2016). It is expected that cybercrime will cost the global economy $6.1 trillion annually, making it the third-largest economy in the world, right behind those of the United States and China.”1

Protecting an organization’s data is not a single-faceted approach, and companies need to do everything they can to both proactively prevent an attempted attack and reactively respond to a successful attack.

UCG Technologies’ VAULT400 subscription defends IBM i and Intel systems against cyber-attacks through comprehensive protection with the Triple Play Protection – Cloud Backup, DRaaS, & Enterprise Cybersecurity Training.

Cyber-attacks become more sophisticated every day. The dramatic rise of the remote workforce has accelerated this trend as cyber criminals aggressively target company employees with online social engineering attacks. It is crucial that employees have proper training on what NOT to click on. Cyber threats and social engineering are constantly evolving and UCG’s Enterprise Cybersecurity Training (powered by KnowBe4) is designed to educate employees on the current cutting-edge cyber-attacks and how to reduce and eliminate them.

A company is only as strong as its weakest link and prevention is just part of the story. Organizations need to have a quick response and actionable plan to implement should their data become compromised. This is the role of cloud backup and disaster-recovery-as-a-service (DRaaS).

Data is a company’s most valuable asset. UCG’s VAULT400 Cloud Backup provides 256-bit encrypted backups to two (2) remote locations for safe retrieval should a cyber-attack occur. This is a necessary component of any protection strategy. Whether a single click on a malicious link brings down the Windows environment or an infected SQL server feeds the IBM i, once the data is compromised, there is no going back unless you have your data readily available.

Recovery is not a trivial task, especially when you factor in the time sensitive nature of restoring from an active attack. This leads to the third play of the Triple Play Protection – DRaaS. Companies have myriad concerns once an attack is realized and a managed service disaster recovery allows employees to keep focus on running the business in a crisis state.

The combination of training employees with secure backup and disaster recovery offers companies the best chance at avoiding financial disruption in an age of stronger, more frequent cyber-attacks.

Reach out to UCG Technologies to discuss your company’s security needs and develop a data protection plan that fits you best.

ucgtechnologies.com/triple-play

800.211.8798 | info@ucgtechnologies.com

https://theconversation.com/cyberattacks-are-on-the-rise-amid-work-from-home-how-to-protect-your-business-151268

Admin Alert: Printing and Emailing a System i Rack Config LiveTime Service Desk Now Supports i5/OS

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