The time of purchases and the exact number of shares to be purchased will depend on market conditions. The share repurchase program does not include specific price targets or timetables and may be suspended at any time. The company intends to finance the purchases using its available cash and if necessary, its line of credit. Repurchased shares will be principally used for ongoing stock issuances under employee stock plans and other general corporate purposes.
"We remain confident in the strength of our customers, our business, our economy and the spirit of America," said Michael E. Henry, Chairman and CEO. "We believe this program will serve our shareholders well over the long-term."
Jack Henry & Associates, Inc. provides integrated computer systems and ATM and debit card transactions 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.
