Exhibit 99.2
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: | Jon Seegert |
| | | | Director Investor Relations |
| | | | (417) 235-6652 |
FOR IMMEDIATE RELEASE
Jack Henry & Associates, Inc. Adds Five Million Shares to Stock Repurchase Authorization
Monett, MO, February 4, 2008 -- Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of integrated computer systems and ATM/debit card/ACH transaction processing services, today reported that its Board of Directors increased its existing 10.0 million share stock repurchase authorization by another 5.0 million shares, bringing the total authorization to 15.0 million shares. In September 2001, the company's Board of Directors approved a buyback program authorizing the repurchase of 3.0 million shares of common stock, which was completed during the year ended June 30, 2003. In October of 2002, the Board of Directors approved the current buyback program in the original amount of 3.0 million shares, and on May 2, 2005 it was increased by 2.0 million shares, and on August 28, 2006 it was increased by 5.0 million shares to the current authorization of 10.0 million shares.
"We believe JKHY's stock continues to represent an excellent investment. This increased authorization exhibits the high level of confidence the Board of Directors has in the company's long-term prospects," said Kevin D. Williams, CFO. "We sincerely believe that repurchasing shares of our stock at the current market price is a great use of capital that will drive up earnings per share and provide returns both in the current year and should also compound in the future as we continue to grow."
The company will finance its share repurchases with available cash reserves or short-term borrowings on its existing credit facility. All transactions will be executed in accordance with regulatory and exchange guidelines. The share repurchase program does not include specific price targets or timetables and may be suspended at any time.
Jack Henry & Associates, Inc. is a leading provider of computer systems and ATM/debit card/ACH transaction processing services primarily for financial services organizations. Its technology solutions serve more than 8,700 customers nationwide, and are marketed and supported through three primary brands. Jack Henry Banking supports banks ranging from de novo to mid-tier institutions with information and transaction processing solutions. Symitar(TM) is the leading provider of information and transaction processing solutions for credit unions of all sizes. ProfitStars® provides highly specialized products and services that enable financial institutions of every asset size and charter, and diverse corporate entities to mitigate and control risks, optimize revenue and growth opportunities, and contain costs. Additional information is available athttp://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.
