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jack henry & ASSOCIATES INC . Jack Henry & Associates , Inc. Reports Third Quarter Fiscal 2021 Results May 3 , 2021 MONETT , Mo. , May 3 , 2021 / PRNewswire / -- Jack Henry & Associates , Inc. ( NASDAQ : JKHY ) , a leading provider of technology solutions and payment processing services primarily for the financial services industry , today announces results for the third quarter of fiscal 2021 and discusses its continued response to the novel coronavirus ( COVID - 19 ) pandemic . Year - to - date summary : o GAAP revenue increased 2 % and operating income remained consistent for the nine months ended March 31 , 2021 compared to the prior - year period . o Non - GAAP adjusted revenue increased 5 % and non - GAAP adjusted operating income increased 9 % for the nine months ended March 31 , 2021 compared to the prior - year period . o GAAP EPS was $ 3.08 per diluted share for the nine months ended March 31 , 2021 , compared to $ 3.06 in the prior - year period . o Cash at March 31 , 2021 was $ 70.1 million and $ 109.5 million at March 31 , 2020 . o Debt related to the revolving credit line was $ 200 million at March 31 , 2021 and $ 55 million at March 31 , 2020 . • Third quarter summary : o GAAP revenue increased 1 % and operating income decreased 1 % for the quarter compared to the prior - year quarter . o Non - GAAP adjusted revenue increased 6 % and non - GAAP adjusted operating income increased 19 % for the quarter compared to the prior - year quarter . o GAAP EPS was $ 0.95 per diluted share for the quarter , compared to $ 0.96 in the prior - year quarter . • Full - year fiscal 2021 guidance : o GAAP revenue $ 1,752 million to $ 1,757 million o GAAP EPS $ 3.98 to $ 4.02 o Non - GAAP revenue $ 1,735 million to $ 1,740 million¹ According to David Foss , President and CEO , " We are very pleased to report another quarter of revenue growth and an overall solid financial performance . Our sales team had another outstanding quarter booking fifteen new core sales including five deals in the multi - billion dollar institution market . Also of note in the quarter , we successfully completed our much - anticipated card processing system conversion in accordance with our announced plan . We continue to see very strong demand for Jack Henry technology solutions in the markets we serve and continue to operate with a very robust sales pipeline . " Operating Results Revenue , operating expenses , operating income , and net income for the three and nine months ended March 31 , 2021 , as compared to the three and nine months ended March 31 , 2020 , were as follows : Revenue ( Unaudited ) ( In Thousands ) Revenue Services and Support Percentage of Total Revenue Processing Percentage of Total Revenue Total Revenue $ Three Months Ended March 31 , 2021 ( Unaudited , In Thousands ) 254,639 59 % 179,137 41 % $ 433,776 2020 $ 270,204 63 % 159,202 37 % $ 429,406 2021 % Change Three Months Ended March 31 , ( 6 ) % 2020 13 % $ 1 % Nine Months Ended March 31 , 2021 786,509 60 % 521,429 40 % $ 1,307,938 • Processing revenue increased for the third quarter primarily driven by growth in card processing of 14 % . Other increases were in Jack Henry digital and remittance revenues . Services and support revenue decreased primarily due to a deconversion fee revenue reduction of $ 18,414 , as fewer customers were lost to mergers with non - Jack Henry customers . Another decrease was in hardware revenue and was partially offset by growth in data processing and hosting fees . % Change $ 2020 804,216 63 % 482,314 37 % ● Processing revenue increased for the nine month period primarily driven by growth in card processing of 8 % . Other increases were in Jack Henry digital and remittance revenues . Services and support revenue decreased primarily due to a deconversion fee revenue reduction of $ 32,979 , as fewer customers were lost to mergers with non - Jack Henry customers . Other decreases were pass - through ( due to COVID - 19 travel limitations² ) and hardware revenues partially offset by growth in data processing and hosting fees and software usage fees . 2021 $ 1,286,530 • For the third quarter , core segment revenue decreased 4 % , payments segment revenue increased 7 % , complementary segment revenue increased 1 % , and corporate and other segment revenue decreased 11 % .³ • For the nine month period , core segment revenue decreased 1 % , payments segment revenue increased 5 % , complementary segment revenue increased 4 % , and corporate and other segment revenue decreased 22 % .³ Operating Expenses and Operating Income % Change Nine Months Ended March 31 , ( 2 ) % 8 % 2020 2 % % Change