Thompson has been with the company since 1990 and served as its Chief Financial Officer for 10 years. Kevin D. Williams will advance to CFO from Controller, a position he has held since 1998. No successor has been named to fill the seat on the board.
"The Board and I have the utmost confidence in Terry's ability to provide operational leadership to Jack Henry & Associates. He is one of the most able managers in the business and is very knowledgeable not only about our finances, but also on all aspects of our business philosophy and customer relationships," said Michael E. Henry, Chairman and CEO. "Kevin has proven his financial expertise over the years and will make an excellent CFO. I expect this management team will provide the strong leadership required to continue delivering excellent performance for our customers and shareholders."
Earlier yesterday, the company reported record results with revenues up 49% to $80.7 million and profits up 207% to $12.9 million in the second quarter ended December 31, 2000 fueled by strong demand across all sectors of the business. Earnings per share increased 180% to $.28, setting a new record for any quarter in the company's history. "While gross margins are down slightly from the September quarter, our net profitability improved during the quarter and the year. We believe the profitability of our business, regardless of the measure used, is strong, vibrant and growing," said Terry W. Thompson. Net after-tax margins for the quarter improved to 15.95%, up from the immediate prior quarter of 15.43% and higher than 15.25% achieved in all of fiscal 2000. The company also hosted an earnings conference call, which can be heard at www.streetfusion.com through January 24, 2001.
Terry W. Thompson has served as Jack Henry & Associates Chief Financial Officer, Treasurer and Vice President since 1990 and has over 28 years of experience in finance and management. He received a Bachelor of Science degree in Business Administration (Accounting) from Southwest Missouri State University in 1972 and is a Certified Public Accountant and belongs to the American Institute of Certified Public Accountants (AICPA).
Kevin D. Williams is Corporate Controller for Jack Henry & Associates, Inc, a position he has held since joining the company in July 1998. Formerly, he worked in public accounting and Jack Henry & Associates, Inc. was one of his clients for seven years from 1990 through 1996. Williams received a Bachelor of Science degree in Business Administration (Accounting) from Missouri Southern State College in 1987, is a Certified Public Accountant, and belongs to the American Institute of Certified Public Accountants (AICPA) and the Missouri Society of Certified Public Accountants (MSCPA).
Jack Henry & Associates, Inc. provides integrated computer systems and ATM networking products for banks and credit unions. Jack Henry markets and supports its systems throughout the United States and has over 2,800 customers nationwide. For additional information on Jack Henry, visit the company's web site at www.jackhenry.com.
Statements made in this news release that are not historical facts are forward-looking information. Actual results may differ materially from those projected in any forward-looking information. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated by any forward looking information. Additional information on these and other factors which could affect the Company's financial results are included in its Securities and Exchange Commission (SEC) filings on Form 10-K and its registration statement filing of August 11, 2000. These statements should be reviewed by potential investors. Finally, there may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from any forward-looking information.
