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Jack Henry & Associates Fiscal 2011 Second Quarter Net Income Increases 20%

MONETT, Mo. Feb. 1, 2011 Jack Henry

December 31, 2010 $242.6 million $210.9 million $102.8 million $89.1 million $36.0 million $0.42 $30.0 million $0.35

$477.5 million $393.2 million $199.9 million $163.5 million $67.8 million $0.79 $56.3 million $0.66

Jack Prim

Operating Results

Tony Wormington

$15.5 million $12.0 million $212.4 million $184.1 million $14.8 million $14.7 million

$24.9 million $23.4 million $423.0 million $340.1 million $29.6 million $29.7 million

$121.8 million December 31, 2009 $139.8 million $102.8 million $89.1 million

December 31, 2010 $277.6 million $229.7 million December 31, 2009 $199.9 million $163.5 million

December 31, 2010

Support and service gross margin remained consistent at 40% for the second quarter of fiscal 2011 and for the same period last year. Support and service gross margin for the 6 months of fiscal 2011 increased to 40% from 39% in the same period a year ago.  Hardware gross margin decreased from 27% in the second quarter of fiscal 2010 to 26% in the same period in the current year, yet remained consistent at 27% for the first half of both fiscal years.  

October 29, 2009 June 4, 2010 $17.0 million $14.9 million $15.8 million $12.3 million $15.0 million $14.5 million

$92.1 million $74.2 million October 1, 2009 December 31, 2010 $33.3 million $27.0 million $31.2 million $22.5 million $27.5 million $24.7 million

$55.0 million $47.4 million $36.0 million $0.42 $30.0 million $0.35

$107.8 million $89.3 million $67.8 million $0.79 $56.3 million $0.66

Kevin Williams $10.7 million $12.2 million $77.9 million $152.9 million $123.0 million

$189.0 million $171.0 million $53.6 million $39.8 million

December 31, 2010 $370.9 million $321.4 million $106.6 million $71.7 million

Condensed, Consolidated Balance Sheet, Cash Flow, and Backlog Review

$46.9 million $24.9 million December 31, 2009 June 30, 2010 $125.5 million $130.0 million

$190.0 million December 31, 2010 $819.1 million December 31, 2010 $684.8 million December 31, 2009

$85.8 million $75.9 million

Six months ended

December 31,

2010

2009

Net income

$     67,816

$     56,251

Non-cash expenses

48,506

35,754

Change in receivables

81,623

87,554

Change in deferred revenue

(85,601)

(92,740)

Change in other assets and liabilities

(26,515)

(10,963)

Net cash provided by operating activities

$     85,829

$     75,856

$27.6 million $15.5 million $12.1 million $164.6 million $125.9 million October 2009 $25.9 million $12.9 million

$136.9 million $135.3 million $16.3 million $14.3 million $4.5 million $64.8 million $14.3 million $61.6 million $13.0 million

$342.7 million $78.7 million $264.0 million December 31, 2010 December 31, 2009 $316.3 million $76.6 million $239.7 million June 30, 2010 $328.8 million $78.2 million $250.6 million

Jack Henry

Jack Henry the United States Jack Henry www.jackhenry.com February 2nd 7:45 a.m. Central Time 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 Conso lidated Statements of Income

(In Thousands, Except Per Share Data – unaudited)

Three Months Ended

Six Months Ended

December 31,

% Change

December 31,

% Change

2010

2009

2010

2009

REVENUE

  License

$     15,460

$    12,013

29%

$   24,919

$ 23,415

6%

  Support and service

212,378

184,143

15%

422,988

340,069

24%

  Hardware

14,797

14,705

1%

29,550

29,708

-1%

         Total

242,635

210,861

15%

477,457

393,192

21%

COST OF SALES

  Cost of license

2,079

1,091

91%

3,257

2,211

47%

  Cost of support and service

126,857

110,026

15%

252,663

205,836

23%

  Cost of hardware

10,880

10,664

2%

21,685

21,674

0%

         Total

139,816

121,781

15%

277,605

229,721

21%

GROSS PROFIT

102,819

89,080

15%

199,852

163,471

22%

Gross Profit Margin

42%

42%

42%

42%

OPERATING EXPENSES

  Selling and marketing

16,979

14,866

14%

33,341

26,991

24%

  Research and development

15,837

12,339

28%

31,227

22,487

39%

  General and administrative

15,014

14,512

3%

27,520

24,693

11%

         Total

47,830

41,717

15%

92,088

74,171

24%

OPERATING INCOME

54,989

47,363

16%

107,764

89,300

21%

INTEREST INCOME (EXPENSE)

  Interest income

32

4

>100%

49

45

9%

  Interest expense

(2,487)

(143)

>100%

(5,379)

(233)

>100%

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