Jack Henry & Associates (JKHY) FY2014 results: revenue $1.2 billion, up 5.9% on the year
Jack Henry & Associates Inc. (JKHY) reported revenue of $1.2 billion for fiscal 2014, the year ended 30 June 2014, up 5.9% on the year before. Net income was $187 million, up 11.4%, and diluted earnings per share $2.19. The figures are the company's own, from the 10-K it filed with the SEC on 27 August 2014.
Revenue
$1.2 billion
+5.9% on the year
FY2009FY2014
Operating margin
24.6%
22.6% a year earlier
FY2009FY2014
Net income
$187 million
+11.4% on the year
FY2009FY2014
Diluted EPS
$2.19
+12.9% on the year
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
1,173
1,108
1,018
+5.9%
Cost of revenue
679
646
599
+5.1%
Gross profit
494
461
419
+7.0%
Gross margin
42.1%
41.7%
41.2%
Research and development
66.7
63.2
60.9
+5.6%
Operating income
288
251
232
+15.0%
Operating margin
24.6%
22.6%
22.8%
Interest expense
1.1
6.3
5.7
-82.6%
Pre-tax income
288
245
227
+17.3%
Income tax
101
77.5
75.0
+30.2%
Effective tax rate
35.1%
31.6%
33.0%
Net income
187
168
152
+11.4%
Net margin
15.9%
15.1%
14.9%
Diluted EPS
$2.19
$1.94
$1.74
+12.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
342
309
265
+10.5%
Capital expenditure
33.2
46.3
41.4
-28.3%
Free cash flow
308
263
223
+17.3%
Free cash flow margin
26.3%
23.7%
21.9%
Cash from investing
-132
-97.2
-76.3
Cash from financing
-267
-241
-94.1
Depreciation
52.9
52.0
45.3
+1.9%
Share-based compensation
10.1
8.6
7.0
+17.1%
Buybacks
176
58.1
34.4
+202.3%
Dividends paid
71.3
48.2
38.1
+47.8%
Dividend per share
$0.84
$0.56
$0.44
+50.0%
Diluted shares, weighted
85m
87m
87m
-1.4%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
967
1,016
936
-4.8%
Debt
9.1
15.3
132
-40.3%
Other liabilities
704
641
552
+9.8%
Total liabilities and equity
1,681
1,672
1,619
+0.5%
Fixed assets
292
301
277
-2.9%
Goodwill
553
533
534
+3.7%
Intangible assets
137
147
163
-7.2%
Securities held for sale or to maturity
n/a
n/a
0.0
Cash and equivalents
70.4
128
157
-45.0%
Receivables
224
231
218
-3.1%
Other assets
405
332
271
+22.0%
Total assets
1,681
1,672
1,619
+0.5%
10-K for the year ended 30 June 2014, filed 27 August 2014: the filing.