$JKHY
JACK HENRY & ASSOCIATES INC

2013 Q1 Form 10-Q Financial Statement

#000077915213000018 Filed on May 06, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q1
Revenue $281.5M $256.3M
YoY Change 9.85% 6.71%
Cost Of Revenue $167.0M $152.9M
YoY Change 9.18% 5.54%
Gross Profit $114.6M $103.4M
YoY Change 10.84% 8.49%
Gross Profit Margin 40.7% 40.34%
Selling, General & Admin $32.89M $31.42M
YoY Change 4.68% 8.06%
% of Gross Profit 28.7% 30.39%
Research & Development $16.00M $15.47M
YoY Change 3.39% -1.56%
% of Gross Profit 13.96% 14.96%
Depreciation & Amortization $26.20M $23.10M
YoY Change 13.42% 2.67%
% of Gross Profit 22.86% 22.34%
Operating Expenses $48.88M $46.89M
YoY Change 4.26% 4.69%
Operating Profit $65.71M $56.50M
YoY Change 16.31% 11.87%
Interest Expense $1.034M $1.464M
YoY Change -29.37% -14.39%
% of Operating Profit 1.57% 2.59%
Other Income/Expense, Net
YoY Change
Pretax Income $64.81M $55.12M
YoY Change 17.58% 12.82%
Income Tax $18.81M $18.46M
% Of Pretax Income 29.03% 33.49%
Net Earnings $46.00M $36.66M
YoY Change 25.48% 10.81%
Net Earnings / Revenue 16.34% 14.3%
Basic Earnings Per Share $0.53 $0.42
Diluted Earnings Per Share $0.53 $0.42
COMMON SHARES
Basic Shares Outstanding 86.12M shares 86.82M shares
Diluted Shares Outstanding 86.71M shares 87.59M shares

Balance Sheet

Concept 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $182.1M $89.80M
YoY Change 102.78% 62.09%
Cash & Equivalents $182.1M $89.77M
Short-Term Investments $0.00
Other Short-Term Assets $81.10M $77.50M
YoY Change 4.65% 41.94%
Inventory
Prepaid Expenses $23.04M $19.62M
Receivables $126.8M $118.4M
Other Receivables $2.800M $7.300M
Total Short-Term Assets $392.8M $293.0M
YoY Change 34.07% 26.39%
LONG-TERM ASSETS
Property, Plant & Equipment $291.3M $273.1M
YoY Change 6.67% 1.11%
Goodwill $533.3M $533.5M
YoY Change -0.04%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $29.55M $29.39M
YoY Change 0.54% -32.43%
Total Long-Term Assets $879.3M $878.0M
YoY Change 0.16% -23.85%
TOTAL ASSETS
Total Short-Term Assets $392.8M $293.0M
Total Long-Term Assets $879.3M $878.0M
Total Assets $1.563B $1.444B
YoY Change 8.27% 4.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.33M $10.24M
YoY Change 10.7% 16.32%
Accrued Expenses $55.18M $49.55M
YoY Change 11.37% 17.69%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $37.60M $28.60M
YoY Change 31.47% 42.29%
Total Short-Term Liabilities $260.8M $221.7M
YoY Change 17.63% 7.0%
LONG-TERM LIABILITIES
Long-Term Debt $95.10M $112.5M
YoY Change -15.47% -49.91%
Other Long-Term Liabilities $5.476M $11.42M
YoY Change -52.04% -54.14%
Total Long-Term Liabilities $222.8M $243.5M
YoY Change -8.51% -2.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $260.8M $221.7M
Total Long-Term Liabilities $222.8M $243.5M
Total Liabilities $483.6M $465.2M
YoY Change 3.95% -13.09%
SHAREHOLDERS EQUITY
Retained Earnings $1.042B $910.7M
YoY Change 14.42%
Common Stock $1.019M $1.013M
YoY Change 0.59%
Preferred Stock
YoY Change
Treasury Stock (at cost) $359.7M $309.6M
YoY Change 16.2%
Treasury Stock Shares 15.85M shares 14.41M shares
Shareholders Equity $1.080B $978.8M
YoY Change
Total Liabilities & Shareholders Equity $1.563B $1.444B
YoY Change 8.27% 4.28%

Cashflow Statement

Concept 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income $46.00M $36.66M
YoY Change 25.48% 10.81%
Depreciation, Depletion And Amortization $26.20M $23.10M
YoY Change 13.42% 2.67%
Cash From Operating Activities $33.20M $21.70M
YoY Change 53.0% -26.19%
INVESTING ACTIVITIES
Capital Expenditures -$23.60M -$17.80M
YoY Change 32.58% 11.95%
Acquisitions
YoY Change
Other Investing Activities $200.0K $1.100M
YoY Change -81.82%
Cash From Investing Activities -$23.30M -$16.80M
YoY Change 38.69% 5.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -20.80M -10.50M
YoY Change 98.1% 77.97%
NET CHANGE
Cash From Operating Activities 33.20M 21.70M
Cash From Investing Activities -23.30M -16.80M
Cash From Financing Activities -20.80M -10.50M
Net Change In Cash -10.90M -5.600M
YoY Change 94.64% -173.68%
FREE CASH FLOW
Cash From Operating Activities $33.20M $21.70M
Capital Expenditures -$23.60M -$17.80M
Free Cash Flow $56.80M $39.50M
YoY Change 43.8% -12.8%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">RECENT ACCOUNTING PRONOUNCEMENTS</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2011-05, Comprehensive Income in </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">June 2011</font><font style="font-family:Arial;font-size:10pt;">, which was effective for the Company beginning </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">July&#160;1, 2012</font><font style="font-family:Arial;font-size:10pt;">. The updated guidance requires non-owner changes in stockholders' equity to be reported either in a single continuous statement of comprehensive income or in two separate but consecutive statements, rather than as part of the statement of changes in stockholders' equity. Adoption of this update did not have any impact on the financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">September 2011</font><font style="font-family:Arial;font-size:10pt;">, the FASB issued ASU No. 2011-08, Testing Goodwill for Impairment, which was effective for annual and interim goodwill impairment tests performed for fiscal years beginning after </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">December&#160;15, 2011</font><font style="font-family:Arial;font-size:10pt;">. The amendments in the update permit an entity to first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test. The provisions in this update were effective for the Company beginning </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">July&#160;1, 2012</font><font style="font-family:Arial;font-size:10pt;"> and its adoption did not have any impact on the financial statements.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In July 2012, the FASB issued ASU No. 2012-02, Intangibles - Goodwill and Other. The amendments in the update permit an entity to first assess qualitative factors to determine whether it is more likely than not that the fair value of an indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform the quantitative impairment test. The provisions in this update will be effective for the Company beginning July 1, 2013.</font></div></div>
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CY2013Q1 us-gaap Line Of Credit Facility Current Borrowing Capacity
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us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2015-06-04
CY2013Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
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CY2013Q1 us-gaap Long Term Debt
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CY2013Q1 us-gaap Long Term Debt And Capital Lease Obligations
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CY2013Q1 us-gaap Loss Contingency Accrual At Carrying Value
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us-gaap Loss From Catastrophes
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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118017000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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152425000 USD
us-gaap Net Income Loss
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111657000 USD
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CY2013Q1 us-gaap Notes Payable To Bank
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110625000 USD
us-gaap Proceeds From Issuance Of Common Stock
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2416000 USD
us-gaap Net Income Loss
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128976000 USD
CY2012Q1 us-gaap Net Income Loss
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Operating Expenses
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OperatingIncomeLoss
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CY2013Q1 us-gaap Other Liabilities Noncurrent
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5476000 USD
CY2013Q1 us-gaap Other Long Term Debt
OtherLongTermDebt
129000 USD
CY2012Q2 us-gaap Other Long Term Debt
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445000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
15788000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments Of Dividends
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us-gaap Payments Of Dividends
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3766000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3745000 USD
us-gaap Payments To Acquire Intangible Assets
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186000 USD
us-gaap Payments To Acquire Intangible Assets
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720000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
0 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
2000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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28413000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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26555000 USD
us-gaap Payments To Develop Software
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37942000 USD
us-gaap Payments To Develop Software
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25855000 USD
CY2013Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1.00
CY2012Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1.00
CY2013Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000 shares
CY2012Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
500000 shares
CY2012Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q1 us-gaap Preferred Stock Value
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0 USD
CY2012Q2 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2013Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
58079000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
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3000000 USD
CY2013Q1 us-gaap Property Plant And Equipment Net
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CY2012Q2 us-gaap Property Plant And Equipment Net
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276730000 USD
CY2012Q2 us-gaap Receivables Net Current
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218305000 USD
CY2013Q1 us-gaap Receivables Net Current
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us-gaap Repayments Of Long Term Debt
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us-gaap Repayments Of Long Term Debt
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24315000 USD
CY2013Q1 us-gaap Research And Development Expense
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CY2012Q1 us-gaap Research And Development Expense
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us-gaap Research And Development Expense
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us-gaap Research And Development Expense
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45482000 USD
CY2013Q1 us-gaap Retained Earnings Accumulated Deficit
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CY2012Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2013Q1 us-gaap Revenues
Revenues
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CY2012Q1 us-gaap Revenues
Revenues
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us-gaap Revenues
Revenues
831238000 USD
us-gaap Revenues
Revenues
760500000 USD
CY2013Q1 us-gaap Sales Revenue Goods Net
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14447000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
43173000 USD
CY2012Q1 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
14760000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
47261000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
745310000 USD
us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
672414000 USD
CY2013Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
250415000 USD
CY2012Q1 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
226535000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
61061000 USD
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
55912000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-30
CY2012Q1 us-gaap Selling And Marketing Expense
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18994000 USD
CY2013Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
20935000 USD
us-gaap Share Based Compensation
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6121000 USD
us-gaap Share Based Compensation
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4886000 USD
CY2012Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1871000 USD
CY2013Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2011000 USD
CY2012Q2 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
4539000 shares
CY2013Q1 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
4140000 shares
CY2013Q1 us-gaap Stockholders Equity
StockholdersEquity
1079840000 USD
CY2012Q2 us-gaap Stockholders Equity
StockholdersEquity
983056000 USD
CY2013Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
15850300 shares
CY2012Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
15452064 shares
CY2013Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
398000 shares
CY2012Q2 us-gaap Treasury Stock Value
TreasuryStockValue
343956000 USD
CY2013Q1 us-gaap Treasury Stock Value
TreasuryStockValue
359744000 USD
CY2013Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
4166000 USD
CY2013Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
679000 USD
CY2013Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
3113000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86650000 shares
CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86705000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
87366000 shares
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
87592000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
86600000 shares
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
86120000 shares
CY2012Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
86824000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
86104000 shares
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Period End Date
DocumentPeriodEndDate
2013-03-31
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000779152
CY2013Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
86112301 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
HENRY JACK & ASSOCIATES INC

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0000779152-13-000018-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
jkhy-20130331.xml Edgar Link completed
jkhy-20130331.xsd Edgar Link pending
jkhy-20130331_cal.xml Edgar Link unprocessable
jkhy-20130331_def.xml Edgar Link unprocessable
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