Good day, ladies and gentlemen and welcome to the Jack Henry & Associates Fourth Quarter 2015 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. As a reminder, this call is being recorded. I would now turn the call over to your host, Kevin Williams. Please go ahead.

Thanks, Stephanie. Good morning and thank you for joining us for the Jack Henry & Associates fourth quarter and fiscal year 2015 earnings call. I am Kevin Williams, CFO, and on the call with me today is Jack Prim, our CEO. The agenda for the call this morning will follow as a typical call. Jack will start with some thoughts about the business and on the performance of the quarter, and then I will follow that up with some additional comments, and talk about the press release that we released after market closed yesterday. And then we will open the line up for Q&A. I need to remind you that remarks or responses to questions concerning future expectations, events, objectives, strategies, trends or results constitute forward-looking statements or deal with expectations about the future. Like any statement about the future, these are subject to a number of factors which can cause actual results or events to differ materially from those which we anticipate due to a number of risk and uncertainties, and the company undertakes no obligations to update or revise these statements. For a summary of these risk factors and additional information, please refer to yesterday's press release and the sections in our 10-K entitled Risk Factors and forward-looking statements. With that, I'll now turn the call over to Jack. John F. Prim - Chairman & Chief Executive Officer: Thanks, Kevin. Good morning and welcome to the call. We are pleased to again announce the record revenue and earnings for the fourth fiscal quarter and fiscal year 2015. We had another strong financial performance and returned over $199 million in cash to our shareholders in the form of dividends and share repurchases. In spite of being blacked out of trading for over half the fiscal year, we continued to…

Thanks, Jack. With the change in revenue recognition, obviously our license revenues reported is now clearly immaterial as it represents less than 1% of our total revenue. Remember that the vast majority of what used to be considered license revenue is now included in with bundled services which is included in our support and service line of revenue. Our support and service line of revenue continues to drive our total revenue growth and it increased to $318.6 million, which is a 6% increase over the same quarter a year ago and represents 95% of our total revenue. Both the year this line of revenue increased 8% to $1.201 billion this year from $1.112 billion a year ago, solid growth in our support and services which basically had contributions for the year from all the lines within support and services. For the quarter, implementation services were down slightly to $18 million from $18.3 million. Our electronic payments was up nicely 7% for the quarter to $121.4 million from $113.9 million same quarter year ago. OutLink was up 14% for the quarter to $69.7 million. In-house maintenance was down slightly to $76.2 million and bundled services which again is the items related to multi-element contracts was up 11% for the quarter to $33.4 million this year versus $30.1 million last year. As I said, all the components were up nicely for the year. Implementation was up 13% to $74.8 million. Our electronic payments business was up 9% to $481.6 million. OutLink was up 15% to $269.4 million. In-house maintenance was up slightly 1% to $311.9 million and the bundled services was up 4% to $62.9 million from $60.7 million last year. Our hardware decreased 2% for the quarter to $14 million from $14.2 million last year. And for the year, hardware decreased…

Thank you. Our first question comes from David Togut with Evercore ISI. Your line is open.

Thank you. Good morning, Jack and Kevin.

Good morning. John F. Prim - Chairman & Chief Executive Officer: Morning.

Could you elaborate a little bit on demand trends? Give us a better sense of what your customers' spending intentions are for the year ahead, let's say, for core processing and for payments? John F. Prim - Chairman & Chief Executive Officer: Yeah, David. Yeah, I think generally speaking, the demand trends remain solid and consistent. I don't know that there's any particular spikes or areas that they're looking to significantly increase spending. Core is going to be, I think, a steady progression in line with what we have seen, similarly with payments; but again the environment, I think, has continued to improve. And at some point, interest rates will get raised and given some time to adjust balance sheets following that raise, I think that bodes well for earnings for financial institutions, and again, I think that certainly holds well. I think it's likely that there will be increased focus on security-related spending. Just general environment, as regards security plus, I believe the regulatory agencies are probably going to put more of an emphasis on that in the not too distant future. So, certain product offerings there could benefit from that increased scrutiny. But beyond that, and that potential uplift, I think most of it is pretty consistent with what we've been seeing.

Understood. And then you highlighted 7% growth in electronic payments in the quarter. About a year and a half ago, electronic payments was growing in the mid to high-teens. Can you just walk us through some of the underlying demand drivers behind electronic payments? What are the key trends you're seeing in that line item? John F. Prim - Chairman & Chief Executive Officer: Well, depending on exactly what was going on in the period that you're comparing us to. We had, for example, one large bill payment conversion that consisted of, I want to say I think it was about 800 small to medium sized credit unions that came across in that transaction, so that's probably about the timeframe that you might have saw that considerably larger. But you're seeing a modest growth in most of your traditional payment areas, like electronic bill payment and ATM debit card transaction processing, higher growth rates in some of your mobile payment offerings. So I think that there's certainly increased emphasis in spending related to mobile. Although, compared to the more established payment method, that's still a very small percentage of total payments related revenue, but that certainly is the area where most of the growth is. And while our growth rates for debit card and electronic bill payment are generally above the industry averages, there's still going to be more moderate growth rates than what we're seeing in the mobile area.

Understood. And just a couple of quick housekeeping questions. Kevin, you mentioned contract term fees. What were contract term fees in the fourth fiscal quarter versus the year earlier quarter and how should we think about term fees in the year ahead?

Yeah, David. Term fees for the quarter were actually almost $5 million number which were up from about $4.2 million for the same quarter a year ago. Our term fees for the year as we've talked about throughout the year were up significantly. I'm trying to find the number. For the year, our term fees were actually about $26 million, up from $13 million a year ago. We think that this next year, those term fees are going to go back down more in line with where they were in probably 2014, maybe not quite that low. But we don't foresee another year near as high as this year. So, for the quarter, we were up about $800,000 versus a year ago. For the year, it was up significantly over FY 2014.

Got it. And then do you have a software cap forecast for 2016, both external and then software cap for internal use?

Software cap, David, for next year is going to be pretty, pretty level with where we ended up this year. We've pretty got everything in line. I mean, it's obviously going to bounce around a little bit, but a lot of the projects are continuing to go right along. So we're probably going to be in the $78 million or maybe even right at $80 million cap software next year. For internal software, it should probably right in line, somewhere in the $14 million to $15 million range for FY 2016.

Great. And then just finally, do you have a June 30th share count?

I do not have that in front of me, David. I'm sorry.

Okay. Thank you very much.

Our next question comes from Dave Koning with Baird. Your line is open. David J. Koning - Robert W. Baird & Co., Inc. (Broker): Yeah. Hey, guys. Nice job. And I guess my first question, just, the bundled services line I get the seasonal progression. But the last couple of years, it was about double. So up about 100% sequentially from Q3 to Q4, and I get that this year though it was up by 150% sequentially, so like 2.5 times instead of double. So that's an extra, whatever that is, that $4 million or $5 million maybe, relative to what it would have been if the historical pattern kind of held up. But I don't know, is there a historical pattern to fully bake in or can that just move around $4 million, $5 million, $6 million a quarter and it's just a little tough to forecast. John F. Prim - Chairman & Chief Executive Officer: It is tough to forecast. It's going to bounce around. And obviously, this depends on the last product within a multi-element contract that gets delivered, the timing of that, the size of the contract. So if you have a quarter where you have the last element of a whole bunch of small contracts put in place versus quarter where you had the last element of some large core implementations goes with that, that's going to fluctuate significantly. David J. Koning - Robert W. Baird & Co., Inc. (Broker): Okay. And that is higher margin, right? John F. Prim - Chairman & Chief Executive Officer: It is a little higher margin than our traditional core margin, yes. David J. Koning - Robert W. Baird & Co., Inc. (Broker): Okay. And then also, you made what looked like a really small acquisition, I think July 1. How much about revenue do you expect from that this year?

Yeah. Dave, it's going to be a pretty small contributor to revenue. As you may recall with the Goldleaf acquisition we did a number of years ago, we picked up accounts receivable financing business. The base of that acquisition that you're referring to really kind of rounds that offering out nicely with additional asset-based lending capabilities, factoring, inventory, and asset lending. There's no overlap in the offerings of the two. They didn't do what we did with our lending solutions business and we didn't do what they did with their business. So, it brought us a number of new customers, a very nice fit, good cross-sell opportunities of both products between both bases. We've consolidated that in and we think there's some nice leverage and some good uptake opportunities, but it's pretty small, probably on the order of $5 million to $6 million in revenue. John F. Prim - Chairman & Chief Executive Officer: Yeah, David... David J. Koning - Robert W. Baird & Co., Inc. (Broker): Okay. John F. Prim - Chairman & Chief Executive Officer: ... the total purchase price was $10 million. So it is a very small acquisition. David J. Koning - Robert W. Baird & Co., Inc. (Broker): Okay. Cool. And then I guess just the last one. Normally, term fees are lower, like you said. Is it big enough to clients that left this year and gave you the term fees that it makes up a mild impact on revenue? I know normally it really has no impact, but was this enough that you can actually feel like 0.5% impact to revenue this year because of those that left, or is it not near that much?

I don't think you're going to feel it, Dave. I mean, because it's kind of just kind of baked in our normal operations – I mean, yeah it was higher and it gives us a little more headwinds to have to grow over, but it is what it is. And we kind of budget for the loss of those within us, so it's baked into the guidance that we're given. David J. Koning - Robert W. Baird & Co., Inc. (Broker): I meant it more from a standpoint of did the – like, I understand the term fee is jumping around a little bit, but the actual normal revenue stream of the clients that went away, that's not an overly big number probably? John F. Prim - Chairman & Chief Executive Officer: No. I mean, we hate to ever lose a customer, Dave, and obviously you got to go and replace that revenue when that happens. But I think if you really look at the total revenue generated even by the larger customers, on an annual basis, it's not going to be a significant issue. David J. Koning - Robert W. Baird & Co., Inc. (Broker): Okay. Good. Well, thank you. Good job. John F. Prim - Chairman & Chief Executive Officer: Thanks, Dave.

Thanks, Dave.

Our next question comes from Brett Huff with Stephens. Your line is open.

Good morning, guys.

Morning, Brett.

Kevin, you mentioned a little bit that the project you guys have been working on are going to continue for a little while. Can you just enumerate those for us again, kind of the big chunks, so we can make sure to kind of keep track of those?

Well, Brett, so some of the larger projects, we've got a significant redevelopment effort on our core or primary credit union offering on the Symitar side. We've done a number of things on the Banking side for not so much an architectural change, as much as some efficiency enabling capabilities that we're bringing to the customer base. Those are probably farther along, or closer to completion. We're still continuing on a multi-year effort on the credit union development side. All of those are going very well. The thing to keep in mind though Dave (sic) [Brett], is even as these projects begin to roll off, other projects are going to come up. I mean, when you've been in the business for 38 years and you've got couple of hundred products out there, something is always going be in need of a refresh, if not a very significant revamping of the offering. So those are some of the larger transactions, but we've got payments related development efforts, other related efforts that are probably ramping up as some of these begin to ramp down. So, I don't look for any dramatic changes in that area in the near-term.

Okay. That's helpful. And then, can you give us an update on the selling process or the demand for the new product where you're helping folks outsource sort of their non-application servers, where you're helping the e-mail servers and things like that. I know that was something you've all been working on. John F. Prim - Chairman & Chief Executive Officer: Yeah. It's going very well, Dave (sic) [Brett]. We've officially kind of launched that offering at the start of the fiscal year. We've got probably around 25 customers at this point that have elected to hand us some or all of their server-related offerings to manage for them. We're very pleased with that. It's a nice contributor to recurring revenue. Last fiscal year or this next fiscal year, it's not going to be a meaningful number that shows up. But again, it's a nice contributor to recurring revenue and it will tend to compound over time. So, I think it's a timely offering. It's been well received in the market. It is not a simple sale. You're dealing with networks and infrastructure and telecommunications and a lot of things that require some engineering talent to be able to go in and assess properly in order to do a proposal. So it's not a simple sale and some of the sales cycles tend to be a little bit longer. But again, I think with some of the growing emphasis that we are seeing and are going to see even more in the future related to cyber security threats, I think there's going to be increasing interest and reasons for financial institutions to look at this type of an offering.

Okay. And then last question from me. You mentioned that you thought the security, compliance and fraud would be a driver this year. Can you give us a rough idea of how much revenue was in that bucket? And I guess, security, compliance and fraud are the three main pieces or how do you parse it that you might be able to give us a ballpark percentage?

Brett, I mean that's revenue that goes into so many different buckets. It's hard to pull them all out and say, yeah, this is what's related to security and fraud because we've got so many different products within Banking, Symitar and ProfitStars that deal with those in various ways that I've never taken the time to try to put it all into one bucket.

Okay. That's what I needed. Thanks, guys.

Yeah. Thanks, Brett.

And I'm showing no further questions. I will now turn the call back over to Kevin Williams for closing remarks.

Okay. Thanks, Stephanie. Again, we want to thank you for joining us today to review our fourth quarter and fiscal year-end 2015 results. We are very pleased with the results from our ongoing operations and the efforts of all our associates to take care of our customers. Our executives, managers and all of our associates continue to focus on what is best for our customers and our shareholders. With that, I want to thank you again and, Stephanie, will you please provide the replay number?