"Barring any unusual activity in the next few weeks, our forecasts show fiscal second quarter results will come in a few cents per share below expectations,"said Terry W. Thompson, President. "The ongoing economic slowdown appears to have some of our customers in a 'Wait & See' mode in terms of capital spending projects. Sales of complementary products and outsourcing remain strong, while software and hardware revenues from in-house core system installations are lower than expected."
"We still expect to achieve double digit growth in both revenues and earnings in the second quarter, and we remain optimistic about prospects for the remainder of the fiscal year,"remarked Michael E. Henry, Chairman and CEO. "Today's announcement of our strategy to offer customer relationship management (CRM) products through two new relationships will begin to generate incremental new revenues immediately, and may add as much as $100 million in revenues in the next five to six years."Jack Henry & Associates announced today it will acquire Transcend Systems Group, Inc and partner with ARGO Data Resource Corporation to launch new CRM products, one of the fastest growing technology sectors in the market.
Jack Henry & Associates, Inc. provides integrated computer systems and processes 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.
The Company will host a conference call today to discuss today's news releases at 7:45 a.m. CST. The call can be accessed live and for one week thereafter at www.jackhenry.com, www.streetevents.com or www.companyboardroom.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 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. Potential investors should review these statements. 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.
