Jack Henry & Associates Inc. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2011. For the second quarter, the company reported revenue increased 5% to $255.9 million compared to $242.6 million in the same quarter a year ago. Operating income was $60.8 million compared to $55.0 million a year ago. Income before income taxes was $59.4 million compared to $52.5 million a year ago. Net income was $38.5 million or $0.44 per diluted share compared to $36.0 million or $0.42 per diluted share in the same quarter a year ago. EBITDA increased approximately 9% to $84.6 million from $77.9 million a year ago quarter. For the six months, the company reported revenue increased 6% to $504.2 million compared to $477.5 million in the first half of fiscal 2011. Operating income increased 10% to $118.6 million compared to $107.8 million a year ago. Income before income taxes was $115.9 million compared to $102.4 million a year ago. Net income was $75.0 million or $0.86 per diluted share compared to $67.8 million or $0.79 per diluted share a year ago. Cash provided by operations totaled $96.3 million compared to $85.8 million last year. Capital expenditure on facilities and equipment was $18.9 million and $15.7 million for the development of software. EBITDA also increased 9% to $166.2 million from $162.9 million a year ago. For the year 2012, the company anticipates revenue growth will continue in line with year-to-date growth in the mid single digits range of approximately 6%, or a little higher. Gross margins should remain solid as the company continue payments business and continue to see the trend of existing in-house customers moving to outsourcing, with both these allow to leverage existing infrastructure long-term. Net income and EPS to both grow in the range have seen in the first half of the year of high-single potentially up through to the low double digits, if spending continues to improve and the grow over failed banks continues to get easier.