UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8
AMENDMENT TO APPLICATION OR REPORT
FILED PURSUANT TO SECTION 12, 12 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
JACK HENRY & ASSOCIATES, INC.
(Exact name of registrant as specified in charter)
AMENDMENT NO. 1
The undersigned registrant hereby amends the following items, financial
statements, exhibits or other portions of its CURRENT REPORT Dated July 17, 1995
on Form 8-K, as set forth in the pages attached hereto:
Item 7. Financial Statements and Exhibits
(b) Pro forma financial information.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this amendment to be signed on its behalf by the
undersigned, thereunto duly authorized.
JACK HENRY & ASSOCIATES, INC.
(Registrant)
September 15, 1995 By:/s/ Michael E. Henry
(Date) Michael E. Henry
Chairman of the Board and
Chief Executive Officer
September 15, 1995 By:/s/ Terry W. Thompson
(Date) Terry W. Thompson
Vice President and Chief Financial
Officer
Jack Henry & Associates, Inc.
Purchase of all of the outstanding common stock
of
Liberty Software, Inc.
On June 30, 1995, the Company purchased all the outstanding shares of Liberty
Software, Inc. common stock for a total purchase consideration of $12,000,000
cash. The total outlay will be made over a period of approximately 10 months.
Approximately $5.4 million remains to be paid at June 30, 1995.
A Pro Forma statement of operations is presented for the year ended June 30,
1995, showing the combined operations as though the transaction had been
completed at July 1, 1994. Since the acquisition was made on June 30, 1995 the
consolidated balance sheet includes the assets of the acquired business.
The Pro Forma results are not necessarily indicative of what would have occurred
had the acquisition been on that date, nor are they necessarily indicative of
future operations. Pro Forma data reflect the adjusted amortized excess
purchase price over net assets acquired. No adjustment was made to reflect the
combined impact of operations on income tax expense of the separate companies.
Item 7(b)
JACK HENRY & ASSOCIATES, INC.
UNAUDITED CONDENSED PROFORMA STATEMENT OF OPERATIONS
FOR THE YEAR ENDED JUNE 30, 1995
(IN THOUSANDS)
HISTORICAL PRO FORMA
JACK HENRY LIBERTY ADJUSTMENTS COMBINED
Revenues 46,124 21,331 0 67,455
Cost of Sales 22,946 20,165 856 (1) 43,967
Gross Profit 23,178 1,166 (856) 23,488
Operating Expenses 11,375 0 0 11,375
Operating income 11,803 1,166 (856) 12,113
Other income 839 0 0 839
Income (loss) before taxes 12,642 1,166 (856) 12,952
Provision for taxes 4,664 431 (316) (2) 4,779
Net income (loss) 7,978 735 (540) 8,173
Net income per share 0.66 0.06 (0.04) 0.68
Weighted average shares outstanding
12,049 12,049 12,049 12,049
NOTE: These financial statements should be read in conjunction with the
Company's Annual Report on Form 10-K for the Year Ended June 30, 1995.
PROFORMA CONSOLIDATING
AT JUNE 30, 1995
(IN THOUSANDS)
Debit Credit
1) Cost of sales expenses 856
Other assets 856
To record the goodwill and customer contract amortization for one
year from the assumed purchase date of July 1, 1994.
2) Accrued income taxes payable 316
Provision for taxes 316
To record estimated income tax benefit as a result of the amortization
of goodwill and customer contracts.
