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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 4, 2002
JACK HENRY & ASSOCIATES, INC.
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(Exact name of Registrant as specified in its Charter)
Delaware 0-14112 43-1128385
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(State or Other Jurisdiction (Commission File Number) (IRS Employer
of Incorporation) Identification No.)
663 Highway 60, P.O. Box 807, Monett, MO 65708
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(Address of principal executive offices)(zip code)
Registrant's telephone number, including area code: (417) 235-6652
Item 5. Other Events.
On October 4, 2002, Jack Henry & Associates, Inc. ("Jack Henry") issued
a press release (a copy of which is attached to this report) announcing the
authorization of an additional three million share stock repurchase.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
99.1 Press release dated October 4, 2002.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: October 4, 2002
JACK HENRY & ASSOCIATES, INC.
(Registrant)
By: /s/ Kevin D. Williams
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Kevin D. Williams
Chief Financial Officer
Exhibit 99.1
Company: Jack Henry & Associates, Inc. Analyst Contact: Kevin D. Williams
663 Highway 60, P.O. Box 807 Chief Financial Officer
Monett, MO 65708 (417) 235-6652
IR Contact: Becky Pendleton Reid
The Cereghino Group.
(206) 762-0993
For Immediate Release
Jack Henry & Associates Adds Three Million Shares To Stock Repurchase
Authorization
Monett, MO, October 4, 2002 -- Jack Henry & Associates, Inc. (Nasdaq: JKHY),
a leading provider of integrated technology solutions for financial
institutions, today reported its Board of Directors increased its existing
stock repurchase authorization by 3 million shares. In September 2001,
the company's Board of Directors approved a buyback program authorizing
repurchase of up to 3 million shares of common stock, and in the last year
the company has repurchased approximately 2.8 million common shares for the
treasury. If JKHY repurchases all 3.2 million shares remaining in the
plan, there will be approximately 84.9 million basic shares outstanding.
"This program signals the high-level of confidence that management and the
Board of Directors have in the company's long-term prospects. In spite of
the downturn in the market, we remain profitable and have no debt on our
balance sheet," said Kevin D. Williams, CFO. "We believe repurchasing
shares of our stock at current market prices is a great use of capital that
will drive up earnings per share and provide a solid return."
The company is financing its share repurchases with available cash reserves.
All transactions are being executed in accordance with regulatory and
exchange guidelines. The share repurchase program does not include specific
price targets or timetables and may be suspended at any time.
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.
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.
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