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): January 19, 2004



                        JACK HENRY & ASSOCIATES, INC.
            ------------------------------------------------------
            (Exact name of Registrant as specified in its Charter)



          Delaware                     0-14112                 43-1128385
 ----------------------------  ------------------------   -------------------
 (State or Other Jurisdiction  (Commission File Number)      (IRS Employer
      of Incorporation)                                   Identification No.)


                663 Highway 60, P.O. Box 807, Monett, MO 65708
              --------------------------------------------------
              (Address of principal executive offices)(zip code)


     Registrant's telephone number, including area code:   (417) 235-6652

Item 7. Financial Statements and Exhibits. (c) Exhibits 99.1 Press release dated January 19, 2004. Item 12. Results of Operations and Financial Condition. On January 19, 2004, Jack Henry & Associates, Inc. issued a press release announcing 2004 second quarter results, the text of which is attached hereto as Exhibit 99.1. 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: January 19, 2004 JACK HENRY & ASSOCIATES, INC. (Registrant) By: /s/ Kevin D. Williams ------------------------- 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 FISCAL SECOND QUARTER NET INCOME INCREASES 24%
    ---------------------------------------------------------------------

 Monett, MO,  January 19,  2004 --  Jack Henry  & Associates,  Inc.  (Nasdaq:
 JKHY), a leading provider of  integrated technology solutions that  performs
 data processing for  financial institutions, today  reported strong  results
 with revenues rising 10%, and continued  improvement in gross and  operating
 margins that contributed to  a  24%  increase in net  income for the  second
 quarter of fiscal 2004 compared to the second quarter of fiscal 2003.

 Net income totaled $14.5 million, or  $0.16 per diluted share, and  revenues
 increased 10% to $112.7 million in its second fiscal quarter of fiscal 2004,
 ended  December 31, 2003.  A year ago, second  quarter net income was  $11.7
 million, or $0.13 per diluted share, on revenues of $102.6 million.  For the
 first half of  fiscal 2004, net  income increased 24%  to $28.4 million,  or
 $0.31 per diluted  share, compared to  $23.0 million, or  $0.26 per  diluted
 share in the first  six  months of  fiscal 2003.  Revenues increased 13%  to
 $221.7 million in the first half  of fiscal 2004 compared to $196.5  million
 in the same period of fiscal 2003.

 "Our predictions  of  a gradual  recovery  of  new core  sales  are  proving
 accurate and our  outsourcing, ATM and  debit card processing  and sales  of
 complementary products and services continue to drive revenue growth,"  said
 Michael E. Henry, Chairman and CEO.  "Although we have a number of bank core
 system proposals in the pipeline, including several with large institutions,
 sales in this  part of our  business are still  returning slowly. The  fully
 integrated nature of our  product suite remains one  of our most  compelling
 competitive features and  is proving to  be an important  selling point  for
 both  banks  and credit  unions.  Integration is  particularly appealing  as
 bankers look  to  improve security,  comply  with new  stringent  regulatory
 mandates such as the Patriot Act,  deepen customer relationships and  become
 more efficient."

 "We are quite pleased with the  success of our sales force in  cross-selling
 new products to existing  customers," said Jack Prim,  President.  "When  we
 realigned our  bank sales  force  six months  ago  into a  more  traditional
 hunter/farmer approach, we anticipated the farmer would gain traction faster
 than the hunters, and  that has been the  case.  The  early results of  this
 change  are  showing  promise.  In  addition, expansion  of  our  geographic
 footprint for  item  processing  sites continues  to  drive  growth  in  our
 outsourcing business.  Two new sites opened and one was acquired in the past
 calendar year,  and in  March 2004  we will  be opening  an additional  item
 processing site.  We anticipate opening three new item processing sites each
 year to support this growth opportunity in the foreseeable future."

      Operating Results

 License fees  decreased 10%  to  $12.4 million,  or  11% of  second  quarter
 revenues, compared to  $13.8 million, or  13% of second  quarter revenues  a
 year ago.  Growth  of in-house  support  fees,  outsourcing,  and  ATM/Debit
 switch transaction  fees contributed  to the  19%  increase in  support  and
 service revenue  to  $76.7  million, or  68%  of  second  quarter  revenues,
 compared to $64.3 million,  or 63% of last  year's second quarter  revenues.
 Hardware sales fell 4% to $23.6 million in the quarter from $24.5 million in
 the prior year quarter.  Year-to-date, license revenues were off 2% at $25.4
 million, support and  service revenues  were up  20% to  $149.2 million  and
 hardware revenues increased 1% to $47.1  million compared to the first  half
 of fiscal 2003.

 Second quarter  cost of  sales  increased 4%  to  $68.0 million  from  $65.7
 million in  the second  quarter  a year  ago.  Second quarter  gross  profit
 increased 21% to $44.7 million, producing a gross margin of 40%, compared to
 $36.9 million and a gross margin  of 36% in last year's second quarter.  For
 the first half of fiscal 2004, cost of sales rose 8% to $134.3 million  from
 $124.6 million,  producing a  gross profit  of $87.4  million with  a  gross
 margin of 39%, compared to $72.0  million and a gross  margin of 37% in  the
 first six months of fiscal 2003.

 "Gross margins in all three revenue categories grew in the quarter and year-
 to-date," said Kevin D. Williams, CFO.  "Furthermore, both gross margin  and
 operating margin are expanding, with total revenue growth outpacing cost  of
 sales and operating expenses.  As we continue to leverage our resources  and
 infrastructure for support and services  and as lower-margin hardware  sales
 continue to become a  smaller part of the  total revenue mix, we  anticipate
 even further improvement in margins in the future."  Second quarter  support
 and service margin  was 33% up  from 28% for  the same quarter  a year  ago.
 Hardware gross margin for the second quarter was 32% compared to 26% for the
 second quarter last  year, primarily  due to sales  mix of  hardware and  an
 increase over last year in incentives  and rebates received on the  specific
 hardware sold.

 Bank systems and services segment revenue increased 7% to $94.2 million from
 $87.8 million and the  related gross margins for  this segment increased  to
 40% from 38%  in the same  quarter last year.  The credit union systems  and
 services segment revenue increased 25% to  $18.5 million from $14.8  million
 and the related gross margins for this segment increased to 36% from 24%  in
 the same quarter last year. Year-to-date  bank systems and services  segment
 revenue increased 10% to $185.8 million from $168.5 million and the  related
 gross margins for this segment increased to 40% from 38% in the same  period
 last year.  The credit union systems and services segment revenue  increased
 28% to $35.9 million  from $28.1 million and  the related gross margins  for
 this segment increased to 36%  from 27% in the  same period last year.  "The
 gross margin expansion is primarily due to additional leverage of  resources
 and infrastructure,  overall  cost  control  and  a  continued  decrease  in
 hardware as a percentage of total revenue," continued Williams.

 Operating expenses increased 19% during the second quarter and 20%  year-to-
 date.  Sales and marketing expenses rose  11% in the second quarter and  16%
 year-to-date relatively in line with revenue growth. The increase  of 49% in
 the second quarter and year-to-date in  research and development expense  is
 primarily due to  ongoing development of  enhancements to existing  products
 for  financial  institutions.  In  the prior  year,  a large  percentage  of
 employee  related  expenses  were  capitalized  as  part  of  major  ongoing
 development  projects,  which  have   since  been  completed.  General   and
 administrative costs rose 9% in the quarter and 7% year-to-date.

 Operating income increased 24%  to $22.6 million, or  20% of second  quarter
 revenues, compared  to $18.2  million,  or 18%  of  revenues in  the  second
 quarter of fiscal 2003.  For the first six months of fiscal 2004,  operating
 income grew 23% to $44.2 million, or 20% of year-to-date revenues,  compared
 to $35.9 million, or 18% of revenues  in the same period a year ago.  Second
 quarter net  income  totaled $14.5  million,  or $0.16  per  diluted  share,
 compared to $11.7 million or $0.13 per diluted share in the same quarter  of
 fiscal 2003.  Year-to-date  net income grew 24%  to $28.4 million, or  $0.31
 per share, compared to $23.0  million, or $0.26 per  share in the first  six
 months of fiscal 2003.

 Cash Flow, Balance Sheet and Backlog Review

 At December 31, 2003,  cash, cash equivalents  and investments increased  by
 $78.3 million to $109.5 million compared  to a year ago.  Trade  receivables
 decreased $6.3 million  from  December 31, 2002 to  $67.8 million.  Deferred
 revenue increased 25% to  $97.9 million compared to  a year ago,  reflecting
 the shift  in  the annual  billing  cycles  for in-house  support  fees  for
 acquired customers to our  fiscal year end and  increases in prepaid  annual
 support related  to software installed in  the prior periods.  Stockholders'
 equity grew 20% to $406.8 million from $340.4 million at December 31, 2002.

 Cash flow from operations increased to $92.7 million year-to-date from $69.3
 million  in the  first six months  a year ago.  The primary  reason for  the
 $23.4 million increase  is collections related  to the shift  in the  annual
 billing  cycle.  Depreciation and amortization  expenses were $16.5  million
 year-to-date compared  to  $15.0  million in  the  same  period  last  year.
 Capital expenditures were $24.9 million this year-to-date compared to  $26.3
 million  in the respective  period a year ago.  The estimated total  capital
 expenditure budget this year includes a  large investment for a facility  in
 California  and  a  possible  facility  in  North  Carolina  to  accommodate
 continued growth.

 Backlog was up 16% from year-ago levels, and up 3% from the prior quarter at
 $182.5 million ($60.0  million in-house and  $122.5 million outsourcing)  at
 December 31, 2003.  Backlog at September 30, 2003, was $176.5 million ($60.2
 million  in-house and  $116.3  million  outsourcing),  and  at  December 31,
 2002,  it was  $158.0 million ($57.6  million  in-house  and $100.4  million
 outsourcing).


 About Jack Henry & Associates

 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 3,000 customers nationwide.  For additional information on Jack  Henry,
 visit the company's web site at www.jackhenry.com.  The company will hold  a
 conference call on October 20th at 7:45 a.m. Central Time, and investors are
 invited to listen 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 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.

Condensed Consolidated Statements of Income (In Thousands, Except Per Share Data - unaudited) Three Months Ended % Change Six Months Ended % Change ------------------ -------- ---------------- -------- December 31, December 31, 2003 2002 2003 2002 -------- -------- -------- -------- REVENUE License $ 12,400 $ 13,807 -10% $ 25,360 $ 25,876 -2% Support and service 76,717 64,252 19% 149,241 124,136 20% Hardware 23,613 24,504 -4% 47,069 46,529 1% -------- -------- -------- -------- Total 112,730 102,563 10% 221,670 196,541 13% COST OF SALES Cost of license 252 975 -74% 1,165 1,766 -34% Cost of support and service 51,696 46,518 11% 100,745 87,973 15% Cost of hardware 16,073 18,204 -12% 32,394 34,823 -7% -------- -------- -------- -------- Total 68,021 65,697 4% 134,304 124,562 8% -------- -------- -------- -------- GROSS PROFIT 44,709 36,866 21% 87,366 71,979 21% Gross Profit Margins 40% 36% 39% 37% OPERATING EXPENSES Selling and marketing 8,531 7,661 11% 17,303 14,860 16% Research and development 5,912 3,962 49% 11,231 7,513 49% General and administrative 7,673 7,012 9% 14,678 13,748 7% -------- -------- -------- -------- Total 22,116 18,635 19% 43,212 36,121 20% -------- -------- -------- -------- OPERATING INCOME 22,593 18,231 24% 44,154 35,858 23% INTEREST INCOME (EXPENSE) Interest income 281 191 47% 568 378 50% Interest expense (3) (32) -91% (29) (55) -47% -------- -------- -------- -------- Total 278 159 75% 539 323 67% -------- -------- -------- -------- INCOME BEFORE INCOME TAXES 22,871 18,390 24% 44,693 36,181 24% PROVISION FOR INCOME TAXES 8,348 6,713 24% 16,313 13,206 24% -------- -------- -------- -------- NET INCOME $ 14,523 $ 11,677 24% $ 28,380 $ 22,975 24% ======== ======== ======== ======== Diluted net income per share $ 0.16 $ 0.13 $ 0.31 $ 0.26 ======== ======== ======== ======== Diluted weighted avg shares outstanding 92,000 88,812 91,534 89,196 ======== ======== ======== ======== Consolidated Balance Sheet Highlights (In Thousands-unaudited) December 31, % Change ---------------------- -------- 2003 2002 -------- -------- Cash, cash equivalents and investments $ 109,535 $ 31,207 251% Trade receivables $ 67,832 $ 74,090 -8% TOTAL ASSETS $ 548,375 $ 459,581 19% Accounts payable and accrued expenses $ 16,081 $ 21,747 -26% Deferred revenue $ 97,882 $ 78,153 25% STOCKHOLDERS' EQUITY $ 406,802 $ 340,381 20% (thirty) Note: Transmitted on PR Newswire on January 19, 2003, at 04:00 p.m. CT.