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UPDATE 1-Jack Henry & Associates Q1 profit misses Street view, Nov 05, 2008 (Reuters via COMTEX) -- Jack Henry & Associates Inc, which provides software services to banks and financial institutions, posted a quarterly profit that missed analysts' expectations by a cent, hurt by a fall in its license and hardware revenue. For the first quarter, the company reported a 2 percent decline in its high-margin software license revenue to $13.3 million, while revenue from the hardware segment fell 24 percent to $17.9 million. Weaker economicconditions are impacting software license sales globally, mainly due to the ongoing shift from purchase of software for use in-house towards the subscription model. Operating expenses rose 10 percent to $36.9 million. Shares of the company were trading down 1 percent at $18.94 after the bell. They closed at $19.09 Tuesday on Nasdaq. (Reporting by Bijoy Koyitty in Bangalore; Editing by Vinu Pilakkott) Keywords: JACKHENRY/ ([email protected]; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: [email protected]) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. MMMM [ Back To TMCnet.com's Homepage ] |