Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Sep. 30, 2013 | Nov. 06, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'HENRY JACK & ASSOCIATES INC | ' |
Entity Central Index Key | '0000779152 | ' |
Current Fiscal Year End Date | '--06-30 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 85,582,787 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
REVENUE | ' | ' |
License | $11,779 | $12,864 |
Support and service | 269,544 | 244,585 |
Hardware | 14,338 | 13,552 |
Total revenue | 295,661 | 271,001 |
COST OF SALES | ' | ' |
Cost of license | 1,412 | 1,077 |
Cost of support and service | 154,583 | 143,418 |
Cost of hardware | 10,941 | 10,578 |
Total cost of sales | 166,936 | 155,073 |
GROSS PROFIT | 128,725 | 115,928 |
OPERATING EXPENSES | ' | ' |
Selling and marketing | 21,458 | 20,189 |
Research and development | 15,673 | 14,645 |
General and administrative | 14,250 | 13,578 |
Total operating expenses | 51,381 | 48,412 |
OPERATING INCOME | 77,344 | 67,516 |
INTEREST INCOME (EXPENSE) | ' | ' |
Interest income | 131 | 187 |
Interest expense | -280 | -1,341 |
Total interest income (expense) | -149 | -1,154 |
INCOME BEFORE INCOME TAXES | 77,195 | 66,362 |
PROVISION FOR INCOME TAXES | 27,407 | 23,887 |
NET INCOME | $49,788 | $42,475 |
Earnings Per Share | ' | ' |
Diluted earnings per share | $0.58 | $0.49 |
Diluted weighted average shares outstanding | 85,854 | 86,605 |
Basic earnings per share | $0.58 | $0.49 |
Basic weighted average shares outstanding | 85,294 | 86,109 |
Cash dividends paid per share | $0.20 | $0.12 |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
CURRENT ASSETS: | ' | ' |
Cash and cash equivalents | $181,787 | $127,905 |
Receivables, net | 152,624 | 231,263 |
Income tax receivable | 2,691 | 6,107 |
Prepaid expenses and other | 63,736 | 59,244 |
Prepaid cost of product | 29,621 | 23,366 |
Total current assets | 430,459 | 447,885 |
PROPERTY AND EQUIPMENT, net | 295,635 | 300,511 |
OTHER ASSETS: | ' | ' |
Non-current prepaid cost of product | 28,427 | 27,898 |
Computer software, net of amortization | 137,362 | 132,612 |
Other non-current assets | 31,007 | 30,411 |
Customer relationships, net of amortization | 143,583 | 147,167 |
Other intangible assets, net of amortization | 15,378 | 9,380 |
Goodwill | 533,291 | 533,291 |
Total other assets | 889,048 | 880,759 |
Total assets | 1,615,142 | 1,629,155 |
CURRENT LIABILITIES: | ' | ' |
Accounts payable | 13,914 | 11,701 |
Accrued expenses | 52,164 | 68,528 |
Accrued income taxes | 14,887 | 0 |
Deferred income tax liability | 30,845 | 30,845 |
Notes payable and current maturities of long term debt | 11,447 | 7,929 |
Deferred revenues | 241,986 | 293,255 |
Total current liabilities | 365,243 | 412,258 |
LONG TERM LIABILITIES: | ' | ' |
Non-current deferred revenues | 10,446 | 11,342 |
Non-current deferred income tax liability | 122,296 | 120,434 |
Debt, net of current maturities | 6,543 | 7,366 |
Other long-term liabilities | 5,833 | 5,586 |
Total long term liabilities | 145,118 | 144,728 |
Total liabilities | 510,361 | 556,986 |
STOCKHOLDERS' EQUITY | ' | ' |
Preferred stock - $1 par value; 500,000 shares authorized, none issued | 0 | 0 |
Common stock - $0.01 par value; 250,000,000 shares authorized; 102,329,144 shares issued at September 30, 2013; 101,993,808 shares issued at June 30, 2013 | 1,023 | 1,020 |
Additional paid-in capital | 400,585 | 400,710 |
Retained earnings | 1,105,255 | 1,072,521 |
Less treasury stock at cost; 16,753,889 shares at September 30, 2013 and June 30, 2013 | -402,082 | -402,082 |
Total stockholders' equity | 1,104,781 | 1,072,169 |
Total liabilities and equity | $1,615,142 | $1,629,155 |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS PARENTHETICAL (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
Preferred stock, par value | $1 | $1 |
Preferred stock, authorized shares | 500,000 | 500,000 |
Preferred stock, issued shares | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, authorized shares | 250,000,000 | 250,000,000 |
Common stock, issued shares | 102,329,144 | 101,993,808 |
Treasury stock, shares | 16,753,889 | 16,753,889 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' |
Net Income | $49,788 | $42,475 |
Adjustments to reconcile net income to cash from operating activities: | ' | ' |
Depreciation | 12,963 | 12,088 |
Amortization | 12,893 | 12,130 |
Change in deferred income taxes | 1,862 | 3,071 |
Expense for stock-based compensation | 1,922 | 1,734 |
Gain/loss on disposal of assets | -30 | 632 |
Changes in operating assets and liabilities: | ' | ' |
Change in receivables | 78,489 | 81,478 |
Change in prepaid expenses, prepaid cost of product and other | -12,591 | -3,614 |
Change in accounts payable | 2,213 | -5,799 |
Change in accrued expenses | -16,238 | -11,796 |
Change in income taxes | 18,584 | 17,842 |
Change in deferred revenues | -52,165 | -48,392 |
Net cash from operating activities | 97,690 | 101,849 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' |
Capital expenditures | -7,351 | -6,794 |
Proceeds from sale of assets | 2,702 | 131 |
Customer contracts acquired | 0 | -186 |
Internal use software | -3,183 | 0 |
Computer software developed | -14,076 | -11,646 |
Net cash from investing activities | -21,908 | -18,495 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' |
Repayments on credit facilities | 2,798 | 5,726 |
Purchase of treasury stock | 0 | -4,776 |
Dividends paid | -17,054 | -9,911 |
Excess tax benefits from stock-based compensation | -2,947 | -1,743 |
Proceeds from issuance of common stock upon exercise of stock options | 111 | 2,942 |
Minimum tax withholding payments related to option exercises | -6,176 | -2,200 |
Proceeds from sale of common stock, net | 1,070 | 949 |
Net cash from financing activities | -21,900 | -16,979 |
NET CHANGE IN CASH AND CASH EQUIVALENTS | 53,882 | 66,375 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 127,905 | 157,313 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 181,787 | 223,688 |
Supplemental Cash Flow Information [Abstract] | ' | ' |
Income Taxes Paid | 4,015 | 1,229 |
Interest Paid | 299 | 938 |
Capital Expenditures Incurred but Not yet Paid | $5,337 | $7,801 |
Nature_of_Operations_and_Summa
Nature of Operations and Summary of Significant Accounting Policies (Text Block) | 3 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Nature of Operations and Summary of Significant Accounting Policies [Abstract] | ' | ||||||||||||||||
Nature of Operations and Summary of Significant Accounting Policies [Text Block] | ' | ||||||||||||||||
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |||||||||||||||||
Description of the company | |||||||||||||||||
Jack Henry & Associates, Inc. and subsidiaries (“JHA” or the “Company”) is a provider of integrated computer systems and services that has developed and acquired a number of banking and credit union software systems. The Company's revenues are predominately earned by marketing those systems to financial institutions nationwide together with computer equipment (hardware), by providing the conversion and software implementation services for financial institutions to utilize JHA software systems, and by providing other related services. JHA also provides continuing support and services to customers using in-house or outsourced systems. | |||||||||||||||||
Consolidation | |||||||||||||||||
The consolidated financial statements include the accounts of JHA and all of its subsidiaries, which are wholly-owned, and all intercompany accounts and transactions have been eliminated. | |||||||||||||||||
Fair value of financial instruments | |||||||||||||||||
For cash equivalents, amounts receivable or payable and short-term borrowings, fair values approximate carrying value, based on the short-term nature of the assets and liabilities. The fair value of long term debt also approximates carrying value as estimated using discounted cash flows based on the Company’s current incremental borrowing rates or quoted prices in active markets. | |||||||||||||||||
The Company's estimates of the fair value for financial assets and financial liabilities are based on the framework established in the fair value accounting guidance. The framework is based on the inputs used in valuation, gives the highest priority to quoted prices in active markets, and requires that observable inputs be used in the valuations when available. The three levels of the hierarchy are as follows: | |||||||||||||||||
Level 1: inputs to the valuation are quoted prices in an active market for identical assets | |||||||||||||||||
Level 2: inputs to the valuation include quoted prices for similar assets in active markets that are observable either directly or indirectly | |||||||||||||||||
Level 3: valuation is based on significant inputs that are unobservable in the market and the Company's own estimates of assumptions that we believe market participants would use in pricing the asset | |||||||||||||||||
Fair value of financial assets, included in cash and cash equivalents, is as follows: | |||||||||||||||||
Estimated Fair Value Measurements | Total Fair | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Value | ||||||||||||||
September 30, 2013 | |||||||||||||||||
Financial Assets: | |||||||||||||||||
Money market funds | $ | 146,688 | $ | — | $ | — | $ | 146,688 | |||||||||
June 30, 2013 | |||||||||||||||||
Financial Assets: | |||||||||||||||||
Money market funds | $ | 101,576 | $ | — | $ | — | $ | 101,576 | |||||||||
Comprehensive income | |||||||||||||||||
Comprehensive income for the three month periods ended September 30, 2013 and 2012 equals the Company’s net income. | |||||||||||||||||
Interim financial statements | |||||||||||||||||
The accompanying condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q of the Securities and Exchange Commission and in accordance with accounting principles generally accepted in the United States of America applicable to interim condensed consolidated financial statements, and do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete consolidated financial statements. The condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and accompanying notes, which are included in its Annual Report on Form 10-K (“Form 10-K”) for the fiscal year ended June 30, 2013. The accounting policies followed by the Company are set forth in Note 1 to the Company's consolidated financial statements included in its Form 10-K for the fiscal year ended June 30, 2013. | |||||||||||||||||
In the opinion of the management of the Company, the accompanying unaudited condensed consolidated financial statements reflect all adjustments necessary (consisting of normal recurring adjustments) to present fairly the financial position of the Company as of September 30, 2013, the results of its operations for the three month periods ended September 30, 2013 and 2012, and its cash flows for the three month periods ended September 30, 2013 and 2012. | |||||||||||||||||
The results of operations for the period ended September 30, 2013 are not necessarily indicative of the results to be expected for the entire year. |
Additional_Interim_Footnote_In
Additional Interim Footnote Information Additional Interim Footnote Information (Text Block) | 3 Months Ended |
Sep. 30, 2013 | |
Additional Financial Information Disclosure [Abstract] | ' |
Additional Financial Information Disclosure [Text Block] | ' |
ADDITIONAL INTERIM FOOTNOTE INFORMATION | |
The following additional information is provided to update the notes to the Company’s annual consolidated financial statements for developments during the period ended September 30, 2013. | |
Common stock | |
The Board of Directors has authorized the Company to repurchase shares of its common stock. Under this authorization, the Company may finance its share repurchases with available cash reserves or short-term borrowings on its existing credit facilities. The share repurchase program does not include specific price targets or timetables and may be suspended at any time. At September 30, 2013, there were 16,754 shares in treasury stock and the Company had the remaining authority to repurchase up to 8,237 additional shares. The total cost of treasury shares at September 30, 2013 is $402,082. No treasury shares were purchased in the first three months of fiscal 2014. | |
Commitments and contingencies | |
For fiscal 2014, the Board of Directors approved bonus plans for its executive officers and general managers. Under the plan, bonuses may be paid following the end of the current fiscal year based upon achievement of operating income and individually tailored performance targets. For general managers, one half of each manager’s bonus is contingent upon meeting individual business unit objectives established by the executive officer to whom the general manager reports. | |
The Company has entered into agreements that provide its executive officers with compensation totaling two years’ base salary and target bonus in the event the Company terminates the executive without cause within the period from 90 days before to two years after a change in control of the Company. The Company has also entered into agreements that provide its general managers with compensation totaling one year of base salary and target bonus under circumstances identical to those contained in the executive officer agreements. | |
Litigation | |
We are subject to various routine legal proceedings and claims, including the following: | |
In May 2013 a patent infringement lawsuit entitled DataTreasury Corporation v. Jack Henry & Associates, Inc. et. al. was filed against the Company, several subsidiaries and a number of customer financial institutions in the US District Court for the Eastern District of Texas. The complaint seeks damages, interest, injunctive relief, and attorneys' fees for the alleged infringement of two patents, as well as trebling of damage awards for alleged willful infringement. We believe we have strong defenses and intend to defend the lawsuit vigorously. At this early stage, we cannot make a reasonable estimate of possible loss or range of loss, if any, arising from this lawsuit. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements (Notes) | 3 Months Ended |
Sep. 30, 2013 | |
Recent Accounting Pronouncements [Abstract] | ' |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | ' |
RECENT ACCOUNTING PRONOUNCEMENTS | |
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 were effective for the Company beginning July 1, 2013 and did not materially impact the financial statements. | |
In July 2013, the FASB issued ASU No. 2013-11, Income Taxes. The amendments update guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The provisions in this update will be effective for the Company beginning January 1, 2014 and we do not anticipate that this update will materially impact the financial statements. |
Debt_Text_Block
Debt (Text Block) | 3 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Debt and Capital Leases Disclosures [Text Block] | ' | |||||||
DEBT | ||||||||
The Company’s outstanding long and short term debt is as follows: | ||||||||
September 30, | June 30, | |||||||
2013 | 2013 | |||||||
LONG TERM DEBT | ||||||||
Capital leases | $ | 16,493 | $ | 14,161 | ||||
Other borrowings | — | 120 | ||||||
16,493 | 14,281 | |||||||
Less current maturities | 9,950 | 6,915 | ||||||
Debt, net of current maturities | $ | 6,543 | $ | 7,366 | ||||
SHORT TERM DEBT | ||||||||
Capital leases | $ | 1,419 | $ | 1,014 | ||||
Current maturities of long-term debt | 9,950 | 6,915 | ||||||
Other borrowings | 78 | — | ||||||
Notes payable and current maturities of long term debt | $ | 11,447 | $ | 7,929 | ||||
Capital leases | ||||||||
The Company has entered into various capital lease obligations for the use of certain computer equipment. Long term capital lease obligations were entered into of which $16,493 remains outstanding at September 30, 2013 and $9,950 will be maturing within the next twelve months. The Company also has short term capital lease obligations totaling $1,419 at September 30, 2013. | ||||||||
Other lines of credit | ||||||||
The long term revolving credit facility allows for borrowings of up to $150,000, which may be increased by the Company at any time until maturity to $250,000. Each of the above loans bear interest at a variable rate equal to (a) a rate based on LIBOR or (b) an alternate base rate (the greater of (a) the Federal Funds Rate plus 0.5%, (b) the Prime Rate or (c) LIBOR plus 1.0%), plus an applicable percentage in each case determined by the Company's leverage ratio. The credit facility is secured by pledges of capital stock of certain subsidiaries of the Company and also guaranteed by certain subsidiaries of the Company. The credit facility is subject to various financial covenants that require the Company to maintain certain financial ratios as defined in the agreement. As of September 30, 2013, the Company was in compliance with all such covenants. The revolving loan terminates June 4, 2015 and at September 30, 2013, there was no outstanding revolving loan balance. | ||||||||
The Company renewed an unsecured bank credit line on April 29, 2012 which provides for funding of up to $5,000 and bears interest at the prime rate less 1% (2.25% at September 30, 2013). The credit line was renewed through April 29, 2014. At September 30, 2013, no amount was outstanding. |
Income_Taxes_Text_Block
Income Taxes (Text Block) | 3 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Tax Disclosure [Text Block] | ' |
INCOME TAXES | |
The effective tax rate of 35.5% of income before income taxes for the quarter ended September 30, 2013 is slightly lower than 36.0% for the same quarter in fiscal 2013 primarily due to the retroactive extension of the Research and Experimentation Credit in January 2013 through December 31, 2013. | |
At September 30, 2013, the Company had $4,554 of gross unrecognized tax benefits, $3,469 of which, if recognized, would affect our effective tax rate. Our policy is to include interest and penalties related to unrecognized tax benefits in the provision for income taxes. As of September 30, 2013, we had accrued interest and penalties of $682 related to uncertain tax positions. | |
During the fiscal year ended June 30, 2012, the Internal Revenue Service initiated an examination of the Company’s U.S. federal income tax returns for the fiscal years ended June 30, 2010 and 2011. The exam was completed in fiscal 2013 and did not result in a material change to the financial condition of the Company. The U.S. federal and state income tax returns for June 30, 2010 and all subsequent years remain subject to examination as of September 30, 2013 under statute of limitations rules. We anticipate potential changes could reduce the unrecognized tax benefits balance by $100 - $700 within twelve months of September 30, 2013. |
Stock_Based_Compensation_Text_
Stock Based Compensation (Text Block) | 3 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||||
STOCK-BASED COMPENSATION | |||||||||||
For the three months ended September 30, 2013 and 2012, there was $1,922 and $1,734 of equity-based compensation costs, respectively. | |||||||||||
2005 NSOP and 1996 SOP | |||||||||||
The Company previously issued options to employees under the 1996 Stock Option Plan (“1996 SOP”) and to outside directors under the 2005 Non-Qualified Stock Option Plan (“2005 NSOP”). No stock options were issued under the 1996 SOP or the 2005 NSOP during the three months ended September 30, 2013. | |||||||||||
A summary of option plan activity under the plan is as follows: | |||||||||||
Number of Shares | Weighted Average Exercise Price | Aggregate | |||||||||
Intrinsic | |||||||||||
Value | |||||||||||
Outstanding July 1, 2013 | 144 | 21.79 | |||||||||
Granted | — | — | |||||||||
Forfeited | — | — | |||||||||
Exercised | (4 | ) | 18.38 | ||||||||
Outstanding September 30, 2013 | 140 | $ | 21.88 | $ | 4,167 | ||||||
Vested September 30, 2013 | 140 | $ | 21.88 | $ | 4,167 | ||||||
Exercisable September 30, 2013 | 140 | $ | 21.88 | $ | 4,167 | ||||||
Compensation cost related to outstanding options has been fully recognized. The weighted-average remaining contractual term on options currently exercisable as of September 30, 2013 was 3.86 years. | |||||||||||
Restricted Stock Plan | |||||||||||
The Company issues both unit awards and share awards under the Restricted Stock Plan. The following table summarizes non-vested unit awards as of September 30, 2013, as well as activity for the three months then ended: | |||||||||||
Unit awards | Shares | Weighted | |||||||||
Average | |||||||||||
Grant Date | |||||||||||
Fair Value | |||||||||||
Outstanding July 1, 2013 | 814 | 23.08 | |||||||||
Granted | 164 | 48.21 | |||||||||
Vested | (168 | ) | 15.77 | ||||||||
Forfeited | (101 | ) | 15.77 | ||||||||
Outstanding September 30, 2013 | 709 | $ | 31.66 | ||||||||
The weighted average assumptions used in this model to estimate fair value at the measurement date and resulting values are as follows: | |||||||||||
Volatility | 21.6 | % | |||||||||
Risk free interest rate | 0.91 | % | |||||||||
Dividend yield | 1.6 | % | |||||||||
Stock Beta | 0.837 | ||||||||||
At September 30, 2013, there was $14,185 of compensation expense that has yet to be recognized related to non-vested restricted stock unit awards, which will be recognized over a weighted-average period of 1.66 years. | |||||||||||
The following table summarizes non-vested share awards as of September 30, 2013, as well as activity for the three months then ended: | |||||||||||
Share awards | Shares | Weighted | |||||||||
Average | |||||||||||
Grant Date | |||||||||||
Fair Value | |||||||||||
Outstanding July 1, 2013 | 252 | 25.83 | |||||||||
Granted | 8 | 49.63 | |||||||||
Vested | (114 | ) | 21.99 | ||||||||
Forfeited | (1 | ) | 22.17 | ||||||||
Outstanding September 30, 2013 | 145 | $ | 30.2 | ||||||||
At September 30, 2013, there was $1,964 of compensation expense that has yet to be recognized related to non-vested restricted stock share awards, which will be recognized over a weighted-average period of 1.41 years. |
Earnings_Per_Share_Text_Block
Earnings Per Share (Text Block) | 3 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Earnings Per Share [Abstract] | ' | |||||||
Earnings Per Share [Text Block] | ' | |||||||
EARNINGS PER SHARE | ||||||||
The following table reflects the reconciliation between basic and diluted earnings per share: | ||||||||
Three Months Ended September 30, | ||||||||
2013 | 2012 | |||||||
Net Income | $ | 49,788 | $ | 42,475 | ||||
Common share information: | ||||||||
Weighted average shares outstanding for basic earnings per share | 85,294 | 86,109 | ||||||
Dilutive effect of stock options and restricted stock | 560 | 496 | ||||||
Weighted average shares outstanding for diluted earnings per share | 85,854 | 86,605 | ||||||
Basic earnings per share | $ | 0.58 | $ | 0.49 | ||||
Diluted earnings per share | $ | 0.58 | $ | 0.49 | ||||
Per share information is based on the weighted average number of common shares outstanding for the three month periods ended September 30, 2013 and 2012. Stock options and restricted stock have been included in the calculation of earnings per share to the extent they are dilutive. 18 anti-dilutive stock options and restricted stock were excluded from the computation of diluted earnings per share for the three month period ended September 30, 2013 (32 shares were excluded for the three month period ended September 30, 2012). |
Business_Segment_Information_T
Business Segment Information (Text Block) | 3 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||
Segment Reporting Disclosure [Text Block] | ' | |||||||||||||||||||||||
BUSINESS SEGMENT INFORMATION | ||||||||||||||||||||||||
The Company is a provider of integrated computer systems that perform data processing (available for in-house installations or outsourced services) for banks and credit unions. The Company’s operations are classified into two reportable segments: bank systems and services (“Bank”) and credit union systems and services (“Credit Union”). The Company evaluates the performance of its segments and allocates resources to them based on various factors, including prospects for growth, return on investment, and return on revenue. | ||||||||||||||||||||||||
Three Months Ended | Three Months Ended | |||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | |||||||||||||||||||||||
Bank | Credit Union | Total | Bank | Credit Union | Total | |||||||||||||||||||
REVENUE | ||||||||||||||||||||||||
License | $ | 6,379 | $ | 5,400 | $ | 11,779 | $ | 7,281 | $ | 5,583 | $ | 12,864 | ||||||||||||
Support and service | 204,045 | 65,499 | 269,544 | 186,065 | 58,520 | 244,585 | ||||||||||||||||||
Hardware | 10,585 | 3,753 | 14,338 | 9,080 | 4,472 | 13,552 | ||||||||||||||||||
Total revenue | 221,009 | 74,652 | 295,661 | 202,426 | 68,575 | 271,001 | ||||||||||||||||||
COST OF SALES | ||||||||||||||||||||||||
Cost of license | 1,012 | 400 | 1,412 | 687 | 390 | 1,077 | ||||||||||||||||||
Cost of support and service | 117,996 | 36,587 | 154,583 | 108,723 | 34,695 | 143,418 | ||||||||||||||||||
Cost of hardware | 8,180 | 2,761 | 10,941 | 7,211 | 3,367 | 10,578 | ||||||||||||||||||
Total cost of sales | 127,188 | 39,748 | 166,936 | 116,621 | 38,452 | 155,073 | ||||||||||||||||||
GROSS PROFIT | $ | 93,821 | $ | 34,904 | 128,725 | $ | 85,805 | $ | 30,123 | 115,928 | ||||||||||||||
OPERATING EXPENSES | 51,381 | 48,412 | ||||||||||||||||||||||
INTEREST INCOME (EXPENSE) | (149 | ) | (1,154 | ) | ||||||||||||||||||||
INCOME BEFORE INCOME TAXES | $ | 77,195 | $ | 66,362 | ||||||||||||||||||||
September 30, | June 30, | |||||||||||||||||||||||
2013 | 2013 | |||||||||||||||||||||||
Property and equipment, net | ||||||||||||||||||||||||
Bank systems and services | $ | 259,965 | $ | 265,595 | ||||||||||||||||||||
Credit Union systems and services | 35,670 | 34,916 | ||||||||||||||||||||||
Total | $ | 295,635 | $ | 300,511 | ||||||||||||||||||||
Intangible assets, net | ||||||||||||||||||||||||
Bank systems and services | $ | 597,737 | $ | 589,891 | ||||||||||||||||||||
Credit Union systems and services | 231,877 | 232,559 | ||||||||||||||||||||||
Total | $ | 829,614 | $ | 822,450 | ||||||||||||||||||||
The Company has not disclosed any additional asset information by segment, as the information is not produced internally and its preparation is impracticable. |
Nature_of_Operations_and_Summa1
Nature of Operations and Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Consolidation | ' |
The consolidated financial statements include the accounts of JHA and all of its subsidiaries, which are wholly-owned, and all intercompany accounts and transactions have been eliminated. | |
Fair Value of Financial Instruments | ' |
Fair value of financial instruments | |
For cash equivalents, amounts receivable or payable and short-term borrowings, fair values approximate carrying value, based on the short-term nature of the assets and liabilities. The fair value of long term debt also approximates carrying value as estimated using discounted cash flows based on the Company’s current incremental borrowing rates or quoted prices in active markets. | |
The Company's estimates of the fair value for financial assets and financial liabilities are based on the framework established in the fair value accounting guidance. The framework is based on the inputs used in valuation, gives the highest priority to quoted prices in active markets, and requires that observable inputs be used in the valuations when available. The three levels of the hierarchy are as follows: | |
Level 1: inputs to the valuation are quoted prices in an active market for identical assets | |
Level 2: inputs to the valuation include quoted prices for similar assets in active markets that are observable either directly or indirectly | |
Level 3: valuation is based on significant inputs that are unobservable in the market and the Company's own estimates of assumptions that we believe market participants would use in pricing the asset |
Income_Taxes_Income_Taxes_Poli
Income Taxes Income Taxes (Policies) | 3 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Tax, Policy [Policy Text Block] | ' |
Our policy is to include interest and penalties related to unrecognized tax benefits in the provision for income taxes. |
Nature_of_Operations_and_Summa2
Nature of Operations and Summary of Significant Accounting Policies Fair Value Disclosures (Tables) | 3 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value of Financial Instruments [Abstract] | ' | ||||||||||||||||
Fair Value, Measurement Inputs, Disclosure [Text Block] | ' | ||||||||||||||||
Estimated Fair Value Measurements | Total Fair | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Value | ||||||||||||||
September 30, 2013 | |||||||||||||||||
Financial Assets: | |||||||||||||||||
Money market funds | $ | 146,688 | $ | — | $ | — | $ | 146,688 | |||||||||
June 30, 2013 | |||||||||||||||||
Financial Assets: | |||||||||||||||||
Money market funds | $ | 101,576 | $ | — | $ | — | $ | 101,576 | |||||||||
Debt_Tables
Debt (Tables) | 3 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Debt Disclosure [Abstract] | ' | |||||||
Schedule of Long-term Debt Instruments [Table Text Block] | ' | |||||||
September 30, | June 30, | |||||||
2013 | 2013 | |||||||
LONG TERM DEBT | ||||||||
Capital leases | $ | 16,493 | $ | 14,161 | ||||
Other borrowings | — | 120 | ||||||
16,493 | 14,281 | |||||||
Less current maturities | 9,950 | 6,915 | ||||||
Debt, net of current maturities | $ | 6,543 | $ | 7,366 | ||||
Schedule of Short-term Debt [Table Text Block] | ' | |||||||
SHORT TERM DEBT | ||||||||
Capital leases | $ | 1,419 | $ | 1,014 | ||||
Current maturities of long-term debt | 9,950 | 6,915 | ||||||
Other borrowings | 78 | — | ||||||
Notes payable and current maturities of long term debt | $ | 11,447 | $ | 7,929 | ||||
Stock_Based_Compensation_Table
Stock Based Compensation (Tables) | 3 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||
Number of Shares | Weighted Average Exercise Price | Aggregate | |||||||||
Intrinsic | |||||||||||
Value | |||||||||||
Outstanding July 1, 2013 | 144 | 21.79 | |||||||||
Granted | — | — | |||||||||
Forfeited | — | — | |||||||||
Exercised | (4 | ) | 18.38 | ||||||||
Outstanding September 30, 2013 | 140 | $ | 21.88 | $ | 4,167 | ||||||
Vested September 30, 2013 | 140 | $ | 21.88 | $ | 4,167 | ||||||
Exercisable September 30, 2013 | 140 | $ | 21.88 | $ | 4,167 | ||||||
Schedule of Nonvested Restricted Stock Activity [Table Text Block] | ' | ||||||||||
Share awards | Shares | Weighted | |||||||||
Average | |||||||||||
Grant Date | |||||||||||
Fair Value | |||||||||||
Outstanding July 1, 2013 | 252 | 25.83 | |||||||||
Granted | 8 | 49.63 | |||||||||
Vested | (114 | ) | 21.99 | ||||||||
Forfeited | (1 | ) | 22.17 | ||||||||
Outstanding September 30, 2013 | 145 | $ | 30.2 | ||||||||
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | ' | ||||||||||
Unit awards | Shares | Weighted | |||||||||
Average | |||||||||||
Grant Date | |||||||||||
Fair Value | |||||||||||
Outstanding July 1, 2013 | 814 | 23.08 | |||||||||
Granted | 164 | 48.21 | |||||||||
Vested | (168 | ) | 15.77 | ||||||||
Forfeited | (101 | ) | 15.77 | ||||||||
Outstanding September 30, 2013 | 709 | $ | 31.66 | ||||||||
ScheduleOfShareBasedPaymentAwardRSUValuationAssumptionsTableTextBlock [Table Text Block] | ' | ||||||||||
Volatility | 21.6 | % | |||||||||
Risk free interest rate | 0.91 | % | |||||||||
Dividend yield | 1.6 | % | |||||||||
Stock Beta | 0.837 | ||||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 3 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Earnings Per Share [Abstract] | ' | |||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | |||||||
Three Months Ended September 30, | ||||||||
2013 | 2012 | |||||||
Net Income | $ | 49,788 | $ | 42,475 | ||||
Common share information: | ||||||||
Weighted average shares outstanding for basic earnings per share | 85,294 | 86,109 | ||||||
Dilutive effect of stock options and restricted stock | 560 | 496 | ||||||
Weighted average shares outstanding for diluted earnings per share | 85,854 | 86,605 | ||||||
Basic earnings per share | $ | 0.58 | $ | 0.49 | ||||
Diluted earnings per share | $ | 0.58 | $ | 0.49 | ||||
Business_Segment_Information_T1
Business Segment Information (Tables) | 3 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||||||||||
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | ' | |||||||||||||||||||||||
Three Months Ended | Three Months Ended | |||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | |||||||||||||||||||||||
Bank | Credit Union | Total | Bank | Credit Union | Total | |||||||||||||||||||
REVENUE | ||||||||||||||||||||||||
License | $ | 6,379 | $ | 5,400 | $ | 11,779 | $ | 7,281 | $ | 5,583 | $ | 12,864 | ||||||||||||
Support and service | 204,045 | 65,499 | 269,544 | 186,065 | 58,520 | 244,585 | ||||||||||||||||||
Hardware | 10,585 | 3,753 | 14,338 | 9,080 | 4,472 | 13,552 | ||||||||||||||||||
Total revenue | 221,009 | 74,652 | 295,661 | 202,426 | 68,575 | 271,001 | ||||||||||||||||||
COST OF SALES | ||||||||||||||||||||||||
Cost of license | 1,012 | 400 | 1,412 | 687 | 390 | 1,077 | ||||||||||||||||||
Cost of support and service | 117,996 | 36,587 | 154,583 | 108,723 | 34,695 | 143,418 | ||||||||||||||||||
Cost of hardware | 8,180 | 2,761 | 10,941 | 7,211 | 3,367 | 10,578 | ||||||||||||||||||
Total cost of sales | 127,188 | 39,748 | 166,936 | 116,621 | 38,452 | 155,073 | ||||||||||||||||||
GROSS PROFIT | $ | 93,821 | $ | 34,904 | 128,725 | $ | 85,805 | $ | 30,123 | 115,928 | ||||||||||||||
OPERATING EXPENSES | 51,381 | 48,412 | ||||||||||||||||||||||
INTEREST INCOME (EXPENSE) | (149 | ) | (1,154 | ) | ||||||||||||||||||||
INCOME BEFORE INCOME TAXES | $ | 77,195 | $ | 66,362 | ||||||||||||||||||||
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | ' | |||||||||||||||||||||||
September 30, | June 30, | |||||||||||||||||||||||
2013 | 2013 | |||||||||||||||||||||||
Property and equipment, net | ||||||||||||||||||||||||
Bank systems and services | $ | 259,965 | $ | 265,595 | ||||||||||||||||||||
Credit Union systems and services | 35,670 | 34,916 | ||||||||||||||||||||||
Total | $ | 295,635 | $ | 300,511 | ||||||||||||||||||||
Intangible assets, net | ||||||||||||||||||||||||
Bank systems and services | $ | 597,737 | $ | 589,891 | ||||||||||||||||||||
Credit Union systems and services | 231,877 | 232,559 | ||||||||||||||||||||||
Total | $ | 829,614 | $ | 822,450 | ||||||||||||||||||||
Nature_of_Operations_and_Summa3
Nature of Operations and Summary of Significant Accounting Policies Fair Value of Financial Instruments (Details) (Fair Value, Measurements, Recurring [Member], USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Money market funds | $146,688 | $101,576 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Money market funds | 146,688 | 101,576 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Money market funds | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Money market funds | $0 | $0 |
Additional_Interim_Footnote_In1
Additional Interim Footnote Information Treasury Stock (Details) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Class of Stock [Line Items] | ' | ' |
Treasury stock, remaining number of shares authorized to be repurchased | ' | 8,237 |
Treasury Stock, Value | $402,082 | $402,082 |
Debt_Long_Term_Details
Debt Long Term (Details) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
LONG TERM DEBT | ' | ' |
Capital leases | $16,493 | $14,161 |
Other borrowings | 0 | 120 |
Long Term Debt | 16,493 | 14,281 |
Less current maturities | 9,950 | 6,915 |
Debt, net of current maturities | $6,543 | $7,366 |
Debt_Short_Term_Details
Debt Short Term (Details) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
SHORT TERM DEBT | ' | ' |
Capital leases | $1,419 | $1,014 |
Current maturities of long-term debt | 9,950 | 6,915 |
Other borrowings | 78 | 0 |
Notes payable and current maturities of long term debt | $11,447 | $7,929 |
Debt_Narrative_Details
Debt Narrative (Details) (USD $) | 3 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
Credit Facility Points Above Federal Funds Rate [Member] | Credit Facility Points Above LIBOR [Member] | Capital Lease Obligations [Member] | Unsecured Debt [Member] | |||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' |
Current maturities of long-term debt | $9,950 | $6,915 | ' | ' | $9,950 | ' |
Revolving Credit Facility, Current Borrowing Capacity | 150,000 | ' | ' | ' | ' | ' |
Revolving Credit Facility, Maximum Borrowing Capacity | 250,000 | ' | ' | ' | ' | ' |
Basis Spread on Variable Rate | ' | ' | 0.50% | 1.00% | ' | -1.00% |
Revolving Credit Facility, Expiration Date | 4-Jun-15 | ' | ' | ' | ' | ' |
Revolving Credit Facility, Amount Outstanding | 0 | ' | ' | ' | ' | ' |
Unsecured Loan, Issuance Date | ' | ' | ' | ' | ' | 29-Apr-12 |
Unsecured Loan, Unused Borrowing Capacity | ' | ' | ' | ' | ' | 5,000 |
Debt Instrument, Interest Rate at Period End | ' | ' | ' | ' | ' | 2.25% |
Unsecured Loan, Maturity Date | ' | ' | ' | ' | ' | 29-Apr-14 |
Unsecured Loan, Amount Outstanding | ' | ' | ' | ' | ' | $0 |
Income_Taxes_Narrative_Details
Income Taxes Narrative (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Effective Income Tax Rate Continuing Operations, percent | 35.50% | 36.00% |
Unrecognized Tax Benefits | $4,554 | ' |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 3,469 | ' |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 682 | ' |
Expiration of statutes of limitations impact on UTB balance, minimum | 100 | ' |
Expiration of statutes of limitations impact on UTB balance, maximum | $700 | ' |
Stock_Based_Compensation_Narra
Stock Based Compensation Narrative (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Expense for stock-based compensation | $1,922 | $1,734 |
Employee Stock Option [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Weighted average remaining contractual term | '3 years 314 days | ' |
Restricted Stock Units (RSUs) [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Compensation expense yet to be recognized | 14,185 | ' |
Compensation expense yet to be recognized, period for recognition | '1 year 241 days | ' |
Restricted Stock [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Compensation expense yet to be recognized | $1,964 | ' |
Compensation expense yet to be recognized, period for recognition | '1 year 150 days | ' |
Stock_Based_Compensation_Stock
Stock Based Compensation Stock Options (Details) (Stock Options [Member], USD $) | 3 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 |
Stock Options [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Outstanding, period start, number of shares | 144 |
Granted, number of shares | 0 |
Forfeited, number of shares | 0 |
Exercised, number of shares | -4 |
Outstanding, period end, number of shares | 140 |
Outstanding, period start, weighted average exercise price | $21.79 |
Granted, weighted average exercise price | $0 |
Forfeited, weighted average exercise price | $0 |
Exercised, weighted average exercise price | $18.38 |
Outstanding, period end, weighted average exercise price | $21.88 |
Outstanding, period end, intrinsic value | $4,167 |
Vested, period end, number of shares | 140 |
Vested, period end, weighted average exercise price | $21.88 |
Vested, period end, intrinsic value | 4,167 |
Exercisable, period end, number of shares | 140 |
Exercisable, period end, weighted average exercise price | $21.88 |
Exercisable, period end, intrinsic value | $4,167 |
Stock_Based_Compensation_Restr
Stock Based Compensation Restricted Stock Unit Awards (Details) (Restricted Stock Units (RSUs) [Member], USD $) | 3 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 |
Restricted Stock Units (RSUs) [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Outstanding, period start, number of shares | 814 |
Granted, number of shares | 164 |
Vested, number of shares | -168 |
Forfeited, number of shares | 101 |
Outstanding, period end, number of shares | 709 |
Outstanding, period start, weighted average grant date fair value | $23.08 |
Granted, weighted average grant date fair value | $48.21 |
Vested, weighted average grant date fair value | $15.77 |
Forfeited, weighted average grant date fair value | $15.77 |
Outstanding, period end, weighted average grant date fair value | $31.66 |
Stock_Based_Compensation_RSU_M
Stock Based Compensation RSU Measurement Date Assumptions (Details) (Restricted Stock Units (RSUs) [Member]) | 12 Months Ended |
Jun. 30, 2013 | |
Restricted Stock Units (RSUs) [Member] | ' |
RSU grant date weighted average fair value assumptions | ' |
Volatility | 21.60% |
Risk free interest rate | 0.91% |
Dividend yield | 1.60% |
Stock Beta | 0.837 |
Stock_Based_Compensation_Restr1
Stock Based Compensation Restricted Stock Share Awards (Details) (Restricted Stock [Member], USD $) | 3 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 |
Restricted Stock [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Outstanding, period start, number of shares | 252 |
Granted, number of shares | 8 |
Vested, number of shares | -114 |
Forfeited, number of shares | -1 |
Outstanding, period end, number of shares | 145 |
Outstanding, period start, weighted average grant date fair value | $25.83 |
Granted, weighted average grant date fair value | $49.63 |
Vested, weighted average grant date fair value | $21.99 |
Forfeited, weighted average grant date fair value | $22.17 |
Outstanding, period end, weighted average grant date fair value | $30.20 |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Net Income | $49,788 | $42,475 |
Common share information: | ' | ' |
Weighted average shares outstanding for basic earnings per share | 85,294 | 86,109 |
Dilutive effect of stock options and restricted stock | 560 | 496 |
Weighted average shares outstanding for diluted earnings per share | 85,854 | 86,605 |
Basic earnings per share | $0.58 | $0.49 |
Diluted earnings per share | $0.58 | $0.49 |
Antidilutive stock options and restricted stock excluded from computation of earnings per share | 18 | 32 |
Business_Segment_Information_R
Business Segment Information Reconciliation of Operating Profit by Segment to Consolidated (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
REVENUE | ' | ' |
License | $11,779 | $12,864 |
Support and service | 269,544 | 244,585 |
Hardware | 14,338 | 13,552 |
Total revenue | 295,661 | 271,001 |
COST OF SALES | ' | ' |
Cost of license | 1,412 | 1,077 |
Cost of support and service | 154,583 | 143,418 |
Cost of hardware | 10,941 | 10,578 |
Total cost of sales | 166,936 | 155,073 |
GROSS PROFIT | 128,725 | 115,928 |
OPERATING EXPENSES | 51,381 | 48,412 |
INTEREST INCOME (EXPENSE) | -149 | -1,154 |
INCOME BEFORE INCOME TAXES | 77,195 | 66,362 |
Banking Systems and Services [Member] | ' | ' |
REVENUE | ' | ' |
License | 6,379 | 7,281 |
Support and service | 204,045 | 186,065 |
Hardware | 10,585 | 9,080 |
Total revenue | 221,009 | 202,426 |
COST OF SALES | ' | ' |
Cost of license | 1,012 | 687 |
Cost of support and service | 117,996 | 108,723 |
Cost of hardware | 8,180 | 7,211 |
Total cost of sales | 127,188 | 116,621 |
GROSS PROFIT | 93,821 | 85,805 |
Credit Union Systems and Services [Member] | ' | ' |
REVENUE | ' | ' |
License | 5,400 | 5,583 |
Support and service | 65,499 | 58,520 |
Hardware | 3,753 | 4,472 |
Total revenue | 74,652 | 68,575 |
COST OF SALES | ' | ' |
Cost of license | 400 | 390 |
Cost of support and service | 36,587 | 34,695 |
Cost of hardware | 2,761 | 3,367 |
Total cost of sales | 39,748 | 38,452 |
GROSS PROFIT | $34,904 | $30,123 |
Business_Segment_Information_R1
Business Segment Information Reconciliation of Assets from Segment to Consolidated (Details) (USD $) | Sep. 30, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Segment Reporting, Asset Reconciling Items | ' | ' |
Property and equipment, net | $295,635 | $300,511 |
Intangible assets, net | 829,614 | 822,450 |
Banking Systems and Services [Member] | ' | ' |
Segment Reporting, Asset Reconciling Items | ' | ' |
Property and equipment, net | 259,965 | 265,595 |
Intangible assets, net | 597,737 | 589,891 |
Credit Union Systems and Services [Member] | ' | ' |
Segment Reporting, Asset Reconciling Items | ' | ' |
Property and equipment, net | 35,670 | 34,916 |
Intangible assets, net | $231,877 | $232,559 |