
                                 FORM 10-Q

                     SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C.  20549

 (Mark One)
   (X)      QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                       SECURITIES EXCHANGE ACT OF 1934

            For the quarterly period ended December 31, 2001
                                OR
   [ ]      TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                       SECURITIES EXCHANGE ACT OF 1934
            For the transition period from _______________ to _______________

                       Commission file number 0-14112

                        JACK HENRY & ASSOCIATES, INC.
            ------------------------------------------------------
            (Exact name of registrant as specified in its charter)

            Delaware                                    43-1128385
  ----------------------------                        ---------------
  (State or other jurisdiction                        I.R.S. Employer
       of incorporation)                            Identification No.)

               663 Highway 60, P. O. Box 807, Monett, MO  65708
               ------------------------------------------------
                   (Address of principal executive offices)
                                  (Zip Code)

                                 417-235-6652
             ----------------------------------------------------
             (Registrant's telephone number, including area code)

                                      N/A
 (Former name, former address and former  fiscal year, if changed since  last
 report)

      Indicate by check mark whether the registrant (1) has filed all reports
 required to be filed by Section 13  or 15(d) of the Securities Exchange  Act
 of 1934 during the preceding 12 months (or for such shorter period that  the
 registrant was required to file such  reports), and (2) has been subject  to
 such filing requirements for the past 90 days.
 Yes   x   No

                     APPLICABLE ONLY TO CORPORATE ISSUERS:
      Indicate the  number of  shares outstanding  of  each of  the  issuer's
 classes of common stock, as of the latest practicable date.

            Class                           Outstanding at January 31, 2002
 ----------------------------               -------------------------------
 Common Stock, $.01 par value                         89,345,895

<PAGE>

                        JACK HENRY & ASSOCIATES, INC.


                                  CONTENTS


                                                                 Page No.
                                                                 --------

 PART I.      FINANCIAL INFORMATION

      Item I - Financial Statements

           Condensed Consolidated Balance Sheets -
            December 31, 2001, (Unaudited) and June
            30, 2001                                              3 - 4

           Condensed Consolidated Statements of
            Income for the Three and Six Months Ended
            December 31, 2001 and 2000 (Unaudited)                  5

           Condensed Consolidated Statements of Cash
            Flows for the Six Months Ended
            December 31, 2001 and 2000 (Unaudited)                  6

           Notes to the Condensed Consolidated Financial
            Statements (Unaudited)                                7 - 11

      Item 2 - Management's Discussion and Analysis of
           Results of Operations and Financial Condition         11 - 15

      Item 3 - Quantitative and Qualitative Disclosure
           about Market Risk                                       16

<PAGE>

 Part I.  Financial Information
 Item 1.  Financial Statements


               JACK HENRY & ASSOCIATES, INC. AND SUBSIDIARIES
                    CONDENSED CONSOLIDATED BALANCE SHEETS
               (In Thousands, Except Share and Per Share Data)



                                               December 31,
                                                  2001         June 30,
                                               (Unaudited)       2001
                                                --------       --------
 ASSETS
 CURRENT ASSETS:
   Cash and cash equivalents                   $  36,832      $  18,589
   Investments, at amortized cost                    997            985
   Trade receivables                              91,338        116,573
   Income taxes receivable                             -            537
   Prepaid cost of product                        17,641         17,191
   Prepaid expenses and other                     11,755         17,425
   Deferred income taxes                             750            750
                                                --------       --------
         Total                                 $ 159,313      $ 172,050

 PROPERTY AND EQUIPMENT                        $ 205,631      $ 176,193
   Accumulated depreciation                       47,436         37,754
                                                --------       --------
                                               $ 158,195      $ 138,439

 OTHER ASSETS:
   Goodwill                                    $  31,830       $ 29,348
   Other intangible assets, net of amortization   68,116         72,041
   Computer software, net of amortization          5,965          5,806
   Prepaid cost of product                        14,870         12,007
   Other non-current assets                        4,222          3,430
                                                --------       --------
         Total                                 $ 125,003      $ 122,632
                                                --------       --------
         Total assets                          $ 442,511      $ 433,121
                                                ========       ========

<PAGE>

                                               December 31,
                                                  2001         June 30,
                                               (Unaudited)       2001
                                                --------       --------
 LIABILITIES AND STOCKHOLDERS' EQUITY

 CURRENT LIABILITIES:
   Accounts payable                            $   9,236      $  17,846
   Accrued expenses                                8,463          9,595
   Accrued income taxes                            2,345              -
   Current portion of long-term debt                  87             87
   Deferred revenues                              66,606         79,490
                                                --------       --------
         Total                                 $  86,737      $ 107,018

 LONG-TERM DEBT                                      184            228
 DEFERRED REVENUES                                19,261         15,514
 DEFERRED INCOME TAXES                             7,372          7,857
                                                --------       --------
         Total liabilities                     $ 113,554      $ 130,617


 STOCKHOLDERS' EQUITY:
   Preferred stock - $1 par value;
     500,000 shares authorized;
     none issued                                       -              -
   Common stock - $0.01 par value;
     250,000,000 shares authorized;
     89,646,205 issued @ 12/31/01
     88,846,710 issued @ 6/30/01               $     896      $     888
   Less treasury stock at cost;
      318,549 shares @ 12/31/01
      0 shares @ 6/30/01                          (6,708)            -
   Additional paid-in capital                    156,053        145,211
   Retained earnings                             178,716        156,405
                                                --------       --------
         Total stockholders' equity            $ 328,957      $ 302,504
                                                --------       --------
         Total liabilities and
          stockholders' equity                 $ 442,511      $ 433,121
                                                ========       ========

      The accompanying notes are an integral part of these condensed
                  consolidated financial statements.

<PAGE>
<TABLE>

               JACK HENRY & ASSOCIATES, INC. AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                    (In Thousands, Except Per Share Data)
                                 (Unaudited)


                                   Three Months Ended        Six Months Ended
                                       December 31,            December 31,
                                   ------------------      --------------------
                                    2001        2000        2001          2000
                                   ------      ------      -------      -------
 <S>                              <C>        <C>          <C>          <C>
 REVENUES
   Licensing and installation     $22,874     $24,536     $ 45,144     $ 48,048
   Support and services            41,888      32,266       83,494       62,712
   Hardware sales                  26,783      23,930       49,039       46,980
                                   ------      ------      -------      -------
          Total                   $91,545     $80,732     $177,677     $157,740

 COST OF SALES
   Cost of hardware                18,371      15,635       33,250       31,604
   Cost of services                34,163      30,330       66,367       56,737
                                   ------      ------      -------      -------
          Total                   $52,534     $45,965     $ 99,617     $ 88,341
                                   ------      ------      -------      -------

 GROSS PROFIT                     $39,011     $34,767     $ 78,060     $ 69,399
                                      43%         43%          44%          44%

 OPERATING EXPENSES
   Selling and marketing            6,975       5,743       13,544       13,398
   Research and development         3,543       2,828        6,453        5,211
   General and administrative       8,657       6,363       16,162       12,269
                                   ------      ------      -------      -------
          Total                   $19,175     $14,934     $ 36,159     $ 30,878
                                   ------      ------      -------      -------

 OPERATING INCOME                 $19,836     $19,833     $ 41,901     $ 38,521

 OTHER INCOME (EXPENSE)
   Interest income                    571         388         1390          948
   Interest expense                   (41)        (96)        ( 88)        (775)
                                   ------      ------      -------      -------
          Total                   $   530   $     292     $  1,302     $    173
                                   ------      ------      -------      -------

 INCOME BEFORE INCOME TAXES       $20,366     $20,125     $ 43,203     $ 38,694


 PROVISIONS FOR INCOME TAXES        7,332       7,245       15,553       13,930
                                   ------      ------      -------      -------

 NET INCOME                       $13,034     $12,880     $ 27,650     $ 24,764
                                   ======      ======      =======      =======

 Diluted net income per share     $   .14     $   .14     $    .30     $    .27
                                   ======      ======      =======      =======

 Diluted weighted average
   shares outstanding              92,247      91,667       92,485       90,379
                                   ======      ======      =======      =======

 Basic net income per share       $   .15     $   .15     $    .31     $    .29
                                   ======      ======      =======      =======

 Basic weighted average
   shares outstanding              88,982      86,517       88,967       85,413
                                   ======      ======      =======      =======

      The accompanying notes are an integral part of these condensed
                  consolidated financial statements.

</TABLE>
<PAGE>

          JACK HENRY & ASSOCIATES, INC. AND SUBSIDIARIES
          CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                          (In Thousands)
                            (Unaudited)

                                                      Six Months Ended
                                                         December 31,
                                                   -----------------------
                                                     2001           2000
                                                   --------       --------
  CASH FLOWS FROM OPERATING ACTIVITIES:
   Net Income                                     $  27,650       $ 24,764
   Adjustments to reconcile net income
    to cash from operating activities:
    Depreciation                                      9,921          5,233
    Deferred income taxes                               (57)         1,301
    Other                                              (486)           (83)
    Changes in:
      Trade receivables                              25,235         14,206
      Prepaid expenses and other                     (3,113)        (5,716)
      Accounts payable                               (8,610)        (1,952)
      Accrued expenses                               (1,442)        (1,900)
      Accrued income taxes (including tax benefit
        from exercise of stock options)               6,284          8,765
      Deferred revenues                              (9,137)        (5,193)
                                                   --------       --------
      Net cash from operating activities          $  49,550      $  44,104

  CASH FLOWS FROM INVESTING ACTIVITIES:
      Capital expenditures                        $ (23,145)      $(28,656)
      Computer software developed/purchased            (402)          (607)
      Payment for acquisition, net                   (2,923)             -
      Purchase of investment                           (996)             -
      Proceeds from maturity of investments           1,000              -
      Other, net                                         30            (92)
                                                   --------       --------
        Net cash from investing activities        $ (26,436)     $(29,355)


  CASH FLOWS FROM FINANCING ACTIVITIES:
      Proceeds from issuance of common stock
        upon exercise of stock options            $   6,830      $   9,861
      Proceeds from sale of common stock, net           391         60,922
      Short-term borrowings, net                          -        (70,500)
      Principal payments on notes payable               (45)           (80)
      Purchase of treasury stock                     (6,708)             -
      Dividends paid                                 (5,339)        (4,306)
                                                   --------       --------
        Net cash from financing activities        $  (4,871)     $  (4,103)
                                                   --------       --------

  NET INCREASE IN CASH AND CASH EQUIVALENTS       $  18,243      $  10,646

      Cash and cash equivalents at
        beginning of period                          18,589          5,186
                                                   --------       --------
      Cash and cash equivalents at
        end of period                             $  36,832      $  15,832
                                                   ========       ========


 Net cash paid  for income taxes  was $9,312 and  $3,338 for  the six  months
 ended December 31, 2001 and 2000, respectively.

 The Company  paid  interest of  $72  and $1,048  for  the six  months  ended
 December 31, 2001 and 2000, respectively.


      The accompanying notes are an integral part of these condensed
                  consolidated financial statements.

<PAGE>

                JACK HENRY & ASSOCIATES, INC. AND SUBSIDIARIES
                NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
                                 (Unaudited)

 1.  Summary of Significant Accounting Policies

      Description of the Company  - Jack Henry &  Associates, Inc. ("JHA"  or
 the "Company")  is  a  computer software  company  which  has  developed  or
 acquired several banking and credit union  software systems.  The  Company's
 revenues are predominately  earned by marketing  those systems to  financial
 institutions nationwide  along with  computer  equipment (hardware)  and  by
 providing the conversion and software customization services for a financial
 institution to install a JHA software system.  JHA also provides  continuing
 support and  services to  customers using  the  systems either  in-house  or
 outsourced.

      Consolidation -  The  consolidated  financial  statements  include  the
 accounts of JHA and all of its wholly-owned subsidiaries and all significant
 intercompany accounts and transactions have been eliminated.

      Comprehensive Income - Comprehensive income  for each of the  six-month
 periods ended December 31, 2001 and 2000, equals the Company's net income.

      Common Stock Split -  Prior period share and  per share data have  been
 adjusted for the 100% stock dividend paid March 2, 2001.

      Reclassification  -   Where  appropriate,   prior  period's   financial
 information has  been  reclassified to  conform  with the  current  period's
 presentation.

      Other  Significant  Accounting  Policies  -  The  accounting   policies
 followed  by  the  Company  are  set  forth  in  Note  1  to  the  Company's
 consolidated financial statements included in its Annual Report on Form 10-K
 ("Form 10-K") for the fiscal year ended June 30, 2001.


 2.  New Accounting Standard

   Statement of Financial Accounting Standards("SFAS")No.144, Accounting  for
 the Impairment or Disposal of Long-Lived Assets, was issued in August  2001.
 This  Statement  addresses  financial  accounting   and  reporting  for  the
 impairment or disposal of long-lived assets.  This Statement supersedes SFAS
 No. 121, Accounting for the  Impairment of Long-Lived  Assets and for  Long-
 Lived Assets to Be Disposed Of, and the accounting and reporting  provisions
 of APB Opinion No. 30, Reporting the Results  of Operations - Reporting  the
 Effects of Disposal of a Segment  of a Business, and Extraordinary,  Unusual
 and Infrequently Occurring Events  and Transactions, for  the disposal of  a
 segment  of  a  business  (as  previously defined  in  that  Opinion).   The
 provisions of this Statement are  effective for financial statements  issued
 for fiscal years beginning after December 15,  2001 (July 1, 2002 for  JHA),
 and interim  periods  within  those fiscal  years,  with  early  application
 encouraged.   Management has  not completed  the process  of evaluating  the
 impact that this statement will have on the Company's consolidated financial
 position or results of operations.


 3.  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
 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 Form 10-K, for the year  ended
 June 30, 2001.

   In the  opinion of management of  the Company, the accompanying  condensed
 consolidated  financial   statements  reflect   all  adjustments   necessary
 (consisting solely of  normal recurring adjustments)  to present fairly  the
 financial position of the Company as of December 31, 2001 and the results of
 its operations for the three and six  month periods then ended and its  cash
 flows for the six months ended December 31, 2001.

   The results of operations for the  period ended December 31, 2001 are  not
 necessarily indicative of the results to be expected for the entire year.


 4.  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 six months ended December 31, 2001:

 Stock Repurchase Program

   On  September 21,  2001, the  Board  of Directors  approved a  program  to
 repurchase up to 3.0 million shares of common stock. To date 318,549  shares
 have been purchased for $6.7 million.

 Acquisition of System Legacy Solutions, Inc. (SLS)

   On December 1,  2001, the Company acquired  all the outstanding shares  of
 SLS for $3.0 million in cash.  SLS provides technology to convert data  from
 legacy systems into  formats that can  be used by  newer technologies.   The
 purchase price for SLS was allocated to the assets and liabilities  acquired
 based on then estimated  fair values at the  acquisition date, resulting  in
 allocation to goodwill of $2.48 million and to software $.45 million,  which
 is being amortized on a straight-line basis over 10 years.

 5.  Shares used in computing net income per share


                                             (In Thousands)
                                  Three Months Ended  Six Months Ended
                                    December 31,        December 31,
                                   ---------------   -----------------
                                    2001    2000       2001      2000
                                   ------  ------     ------    ------
    Weighted average number
      of common shares
      outstanding - basic          88,982  86,517     88,967    85,413

    Common stock equivalents        3,265   5,150      3,518     4,966
                                   ------  ------     ------    ------
    Weighted average number
      of common and common
      equivalent shares
      outstanding - diluted        92,247  91,667     92,485    90,379
                                   ======  ======     ======    ======


   Per share information  is based on the  weighted average number of  common
 shares outstanding for the periods ended December 31, 2001 and 2000.   Stock
 options have been  included in the  calculation of income  per share to  the
 extent they are  dilutive.  Reconciliation  from basic  to diluted  weighted
 average shares  outstanding  is the  dilutive  effect of  outstanding  stock
 options.


 6.  Business Segment Information

   The Company  is a  leading provider  of integrated  computer systems  that
 perform data processing (available for in-house or outsourced installations)
 for banks and credit unions.   The Company evaluates the performance of  the
 banking and credit union segments and  allocates resources to them based  on
 various factors, including  prospects for growth,  return on investment  and
 return on revenues.
                                                 (In Thousands)
                                   Three Months Ended   Six Months Ended
                                      December 31,        December 31,
                                     ---------------   -----------------
                                      2001     2000     2001      2000
                                     ------   ------   -------   -------
 Revenues:

 Bank systems and services          $77,260  $69,541  $150,431  $139,940

 Credit union systems and services   14,285   11,191    27,246    17,800
                                     ------   ------   -------   -------
           Total                    $91,545  $80,732  $177,677  $157,740
                                     ======   ======   =======   =======

 Gross Profit:

 Bank systems and services          $34,657  $30,952  $ 68,830  $ 65,541

 Credit union systems and services    4,354    3,815     9,230     3,858
                                     ------   ------   -------   -------
           Total                    $39,011  $34,767  $ 78,060  $ 69,399
                                     ======   ======   =======   =======

 7.  Goodwill and Other Intangible Assets

 The Company  adopted SFAS  No. 142,  Goodwill and  Other Intangible  Assets,
 effective July 1, 2001.  Under SFAS No. 142, goodwill and tradenames are  no
 longer amortized but reviewed for impairment annually, or more frequently if
 certain indicators arise.  The Company completed the transitional impairment
 test for tradenames with  indefinite useful lives  during the quarter  ended
 September 30, 2001, and for goodwill  during the quarter ended December  31,
 2001, and has  determined that no  impairment exists. Had  the Company  been
 accounting for  its goodwill  and  tradenames under  SFAS  No. 142  for  all
 periods presented, the Company's net income  and net income per share  would
 have been adjusted as follows:


                                    (In Thousands, Except Per Share Data)
                                    Three Months Ended   Six Months Ended
                                      December 31,        December 31,
                                     ---------------   -----------------
                                      2001     2000     2001      2000
                                     ------   ------   ------    ------
 Reported net income                $13,034  $12,880  $27,650   $24,764

 Goodwill and tradenames
   amortization, net of tax               -      277        -       553
                                     ------   ------   ------    ------
 Adjusted net income                $13,034  $13,157  $27,650   $25,317
                                     ======   ======   ======    ======

 Reported diluted net
   income per share                 $   .14  $   .14  $   .30   $   .27

 Goodwill and tradenames
   amortization, net of tax               -        -        -       .01
                                     ------   ------   ------    ------
 Adjusted diluted net
   income per share                 $   .14  $   .14  $   .30   $   .28
                                     ======   ======   ======    ======
 Reported basic net
   income per share                 $   .15  $   .15  $   .31   $   .29

 Goodwill and tradenames
   amortization, net of tax               -        -        -       .01
                                     ------   ------   ------    ------
 Adjusted basic net
   income per share                 $   .15  $   .15  $   .31   $   .30
                                     ======   ======   ======    ======


 Changes in the carrying amount of goodwill for the six months ended December
 31, 2001, by reportable segments, are as follows:

                                                  (In Thousands)
                                     Banking          Credit
                                     Systems      Union Systems
                                       and             and
                                     Services        Services     Total
                                      ------          ------      ------
      Balance, July 1, 2001          $10,820         $18,528     $29,348

      Goodwill acquired during
        the period                   $ 2,482               -     $ 2,482
                                      ------          ------      ------
      Balance, December 31, 2001     $13,302         $18,528     $31,830
                                      ======          ======      ======


 Information regarding our other intangible assets is as follows:

                                       (In Thousands)
                      December 31, 2001                 June 30, 2001
               ------------------------------  -------------------------------
               Carrying  Accumulated           Carrying  Accumulated
                Amount   Amortization   Net     Amount   Amortization     Net
                ------      ------     ------    ------     ------      ------
 Customer
 Relation-
 ships         $87,089    ($22,672)   $64,417   $90,612   ($22,270)    $68,342

 Tradenames      3,915        (216)     3,699     3,915       (216)      3,699
                ------      ------     ------    ------     ------      ------
 Totals        $91,004    ($22,888)   $68,116   $94,527   ($22,486)    $72,041


 Tradenames have been determined to have indefinite lives and therefore as of
 July 1, 2001  are no longer  amortized.  Customer  relationships have  lives
 ranging from 3 to 20 years.

 Amortization expense for other intangible  assets  was $1,528 and $2,345 for
 the  three  month  and  $3,305  and  $4,679 for the six month  periods ended
 December 31, 2001 and 2000, respectively.
<PAGE>


 Item 2. - Management's Discussion and Analysis of Results of
           Operations and Financial Condition

 RESULTS OF OPERATIONS

 Background and Overview

   The Company is a leading provider of integrated computer systems to  banks
 with under $10 billion  of total assets, credit  unions and other  financial
 institutions in the United States.  We offer a complete, integrated suite of
 data processing system  solutions to  improve our  customers' management  of
 their entire back-office and customer interaction processes.  We believe our
 solutions enable our customers to provide better service to their  customers
 and compete more effectively against larger banks and alternative  financial
 institutions.  Our customers either install and use our systems in-house  or
 outsource these operations to us.  We perform data conversion, hardware  and
 software installation and software  customization for the implementation  of
 our systems and applications.  We  also provide continuing customer  support
 services  to  ensure  proper  product  performance  and  reliability,  which
 provides us with continuing client relationships and recurring revenue.

 A detailed discussion of the major  components of the results of  operations
 for the three and six month periods ended December 31, 2001, as compared  to
 the same period in the previous year follows (In Millions, Except Per  Share
 Data):

 Revenues

   Revenues increased 13%  to $91.5 for the  three months ended December  31,
 2001 from  $80.7 for  the  same period  last  year.   Non-hardware  revenues
 increased 14% to $64.8, accounting for 71% of second quarter 2002  revenues,
 compared to $56.8  in the  second quarter a  year ago,  representing 70%  of
 revenue.  The Support and services  revenues increased 30% to $41.9 for  the
 three months ended December 31, 2001 compared to $32.3 in the same period in
 the previous year.   Licensing and installation  revenues decreased 7%  from
 $24.6 for the three months  ended December 31, 2000  to $22.9 for the  three
 months ended December 31, 2001. Hardware sales  grew 12% to $26.8 or 29%  of
 total revenues for  the second  quarter compared to  $23.9 or  30% of  total
 revenues in the same period in the previous year.

    For the six months  ended December 31, 2001,  total revenues grew 13%  to
 $177.7 compared to $157.7  in the first half  of fiscal 2001.   Non-hardware
 revenues increased  16%  to  $128.6 compared  to  $110.8,  and  support  and
 services  rose  33%  to  $83.5  with  licensing  and  installation  revenues
 decreasing 6% at $45.1. For the six months ended December 31, 2001, hardware
 sales increased 4% to $49.0 compared to $47.0 a year ago.

   Support and  services revenue growth  for the three  and six months  ended
 December 31, 2001 is attributable to continuing  growth in both in-house and
 outsourcing services, much of  which is recurring  revenue. We believe  that
 the decline  in  licensing and  installation  revenue is  due  to  customers
 postponing  investments  this  fall,  as a result of general weakness in the
 economy and the tragic events of  September 11th.  The increase in  hardware
 sales for the three and six months ended December 31, 2001 is primarily  due
 to hardware  upgrades and  new hardware  related to  complementary  software
 products.

   Our backlog increased at December 31, 2001 to $132.1  ($52.3 in-house  and
 $79.8 outsourcing) from  $128.9 ($49.8  in-house and  $79.1 outsourcing)  at
 September 31, 2001  and $110.8  ($44.7 in-house and  $66.1  outsourcing)  at
 December 31, 2000.  Backlog at January 31, 2002  was $134.4 ($56.7  in-house
 and $77.7 outsourcing)


 Cost of Sales

   Cost of sales increased 14% for the three months ended December 31,  2001.
 Cost of services  increased  12%, while the cost  of hardware increased  17%
 over the same three month period last year.

   Cost of sales increased 13% for the first six months of fiscal 2002.  Cost
 of services increase 17%,  while the cost of hardware increased 5% over  the
 same six months last year.

   For the  three and  six months  period ended December  31, 2001   cost  of
 sales has increased consistently with the increase in revenue along with the
 cost of services increasing consistently with non-hardware revenues. Cost of
 hardware increased  more  than the  increase  in hardware  revenue,  due  to
 reduced incentives from  hardware suppliers. Incentives  from suppliers  are
 adjusted during the  fourth calendar quarter  annually based  on prior  year
 volumes.

 Gross Profit

   Gross profit was  up 12% for the three months  ended December 31, 2001  to
 $39.0 or 43% of total revenues, compared to $34.8 or 43% of revenues in  the
 second quarter a year  ago.  Non-hardware  margin was flat  at 47% for  this
 quarter and the same quarter last year.  Hardware margin was 31% compared to
 35% in  the  second quarter  a  year ago,  due  to reduced  incentives  from
 hardware suppliers.

   For the  six months ended December  31, 2001, gross profit  was up 12%  to
 $78.1 or 44% of revenues compared to $69.4, also 44% of the revenues for the
 same period last year.   Non-hardware margin was 48%  or $62.3 in the  first
 half of fiscal 2002, compared to 49% or $54.0 for the same period last year.
 Hardware margin was 32%  or $15.8 for the first six months this fiscal  year
 compared to 33% or $15.4 for the same six months last year.

 Operating Expenses

   Total operating expenses increased 28% in the three months ended  December
 31, 2001  compared to  the same  period  in the  prior  year.   Selling  and
 marketing   expenses  increased  21%,   research  and  development  expenses
 increased 25% and general and administrative  expenses increased 36% in  the
 same three month period.

   Total operating  expenses increased 17% in  the six months ended  December
 31, 2001  compared to  the same  period  in the  prior  year.   Selling  and
 marketing increased 1%, research and  development increased 24% and  general
 and administrative increased 32% compared to the same six month period  last
 year.

   Selling  and marketing  expense  increased  for the  second  quarter,  but
 remained fairly  flat  for  the first  half of  the fiscal  year 2002.   The
 fluctuation is  attributable  to the  sales  of different  product  mix  and
 incentives. Research  and  development  increased due  to  the  new  imaging
 products being available in the first half of fiscal year 2002.  The  direct
 costs associated with  the development of  our new  imaging products,  which
 were in general availability  in October 2001 are  now expensed as  incurred
 and are no longer being capitalized as  they were in fiscal 2001 during  the
 development stage  of the  products.   General and  administrative  expenses
 increased primarily  due to  employee benefits  and depreciation  expense.
 Depreciation  and  amortization   expenses  were  higher   due  to   capital
 investments made in fiscal 2001 for infrastructure expansion.
 Other Income (Expense)

   Other  income for  the three  months ended  December 31,  2001 reflects  a
 significant  increase  of  81% when compared  to the same  period last year.
 Interest expense  was half  of last  years'  expense while  interest  income
 increased 45%.

   The net  increase in other  income of $1.1  for the first  half of  fiscal
 2002 is primarily  due to  net interest  expense last  year from  short-term
 borrowing compared to net interest income this year from cash investments.

 Net Income

   Net income  for the second quarter  was $13.0, or  $.14 per diluted  share
 compared to $12.9, or $.14 per diluted share in the same period last year.

   Net income  for the first  half of  fiscal 2002   was $27.6,  or $.30  per
 diluted share  compared to  $24.7, or  $.27 per  diluted share  in the  same
 period last year.

 Business Segment Discussion

   Revenues in the bank systems and  services business segment increased  11%
 from $69.5 to $77.3 for the three  months ended December 31, 2000 and  2001,
 respectively.  Gross profit increased 12%  from $30.9 in the second  quarter
 of the previous  year to $34.7  in the current  second quarter, while  gross
 margins stayed the same  at 45% for current  second quarter compared to  the
 same  quarter  in  the  previous  year.  Gross  margins  remained  unchanged
 primarily due to sales mix.

   Revenues  in  the  credit union  systems  and  services  business  segment
 increased 28% from $11.2  to $14.3 for the  three months ended December  31,
 2000 and 2001, respectively.   Gross profit increased  14% from $3.8 in  the
 second quarter of the previous year  to $4.4 in the current second  quarter,
 while gross  margins  decreased  slightly  in  the  current  second  quarter
 compared to the same  quarter in the previous  year to 31%  from 34% due  to
 sales mix.

  Revenues in the  bank systems and  services business  segment increased  7%
 from $139.9 to $150.5 for the six  months ended December 31, 2000 and  2001,
 respectively.  Gross profit increased 5% from $65.5 for the six months ended
 December 31, 2000 to  $68.8  for  the  six months ending  December 31, 2001.
 Gross margins decreased slightly from 47% last  year to date, to 46% in  the
 first half of fiscal year 2002.

   Revenues  in  the  credit union  systems  and  services  business  segment
 increased 53% from $17.8 to $27.2 for the six months ended December 31, 2000
 and 2001, respectively.   Gross profit increased 139%  from $3.8 in the  six
 month period of the previous year to  $9.2 in the current six month  period,
 while gross  margins increased  from 22% to  34%  for the  six months  ended
 December 31, 2000 and  2001,  respectively.  Increase  in  gross  margin  is
 primarily due  to  significant  increase  in  revenue  which  allows  better
 utilization of resources.


 FINANCIAL CONDITION

 Liquidity

   The  Company's cash  and cash  equivalents  and investments  increased  to
 $37.8 at December 31, 2001, from $19.6 at June 30, 2001.

   JHA  has available  credit  lines  totaling $58.0,  although  the  Company
 expects additional borrowings to be minimal during fiscal year 2002.

 Capital Requirements and Resources

   JHA generally uses existing resources and funds generated from  operations
 to meet its capital requirements.   Capital expenditures totaling $23.1  and
 $28.7  for  the  six  month  periods  ended  December  31,  2001  and  2000,
 respectively,  were  made  for   expansion  of  facilities  and   additional
 equipment.   These  were  funded  from cash  generated  by operations.   The
 consolidated capital expenditures of JHA, excluding acquisition costs, could
 exceed $50.0 for fiscal year 2002.

   The Company  paid a $.03 per  share cash dividend on  December 4, 2001  to
 stockholders  of  record  on  November  20,  2001  which  was  funded   from
 operations.   In addition, the  Company's Board of Directors, subsequent  to
 December 31, 2001, declared a quarterly cash dividend of $.035 per share  on
 its common stock  payable February  28, 2002  to stockholders  of record  on
 February 13, 2002.   This  dividend will be  funded by  cash generated  from
 operations.

 Forward Looking Statements

   The  Management's Discussion  and Analysis  of Results  of Operations  and
 Financial Condition  and  other portions  of  this report  contain  forward-
 looking statements within the  meaning of federal  securities laws.   Actual
 results are  subject  to  risks  and  uncertainties,  including  both  those
 specific to the  Company and  those specific  to the  industry, which  could
 cause results to differ materially from  those contemplated.  The risks  and
 uncertainties include, but are not limited to, the matters detailed at  Risk
 Factors in its Annual Report on Form 10-K for the fiscal year ended June 30,
 2001.   Undue   reliance  should  not  be  placed  on  the   forward-looking
 statements.  The Company does  not undertake  any   obligation  to  publicly
 update any forward-look statements.

 CONCLUSION

   JHA's results  of operations and  its financial position  continued to  be
 favorable during the six months ended December 31, 2001.  This reflects  the
 continuing  attitude  of  cooperation  and  commitment  by  each   employee,
 management's ongoing  cost control  efforts and  commitment to  deliver  top
 quality products and services to the markets it serves.

 Item 3.  Quantitative and Qualitative Disclosure about Market Risk

   Market risk refers to the risk  that a change in the level of one or  more
 market prices, interest rates, indices, volatilities, correlations or  other
 market factors  such as  liquidity,  will result  in  losses for  a  certain
 financial instrument or group  of financial instruments.   We are  currently
 exposed to credit  risk on credit  extended to customers,  interest risk  on
 investments in U.S. government securities and  long-term debt.  We  actively
 monitor these risks  through a  variety of  controlled procedures  involving
 senior management.   We  do  not  currently  use  any  derivative  financial
 instruments.   Based on  the controls  in place,  credit worthiness  of  the
 customer base  and the  relative size  of  these financial  instruments,  we
 believe the risk associated  with these exposures will  not have a  material
 adverse  effect  on  our  consolidated  financial  position  or  results  of
 operations.
<PAGE>

                            SIGNATURES


   Pursuant to the requirements of  the Securities Exchange Act of 1934,  the
 Registrant has duly caused this Quarterly  Report on Form 10-Q to be  signed
 on behalf of the undersigned thereunto duly authorized.



                                           JACK HENRY & ASSOCIATES, INC.


 Date: February 14, 2002                   /s/ Michael E. Henry
       -----------------                   --------------------
                                           Michael E. Henry
                                           Chairman of the Board
                                           Chief Executive Officer


 Date: February 14, 2002                   /s/ Kevin D. Williams
       -----------------                   --------------------
                                           Kevin D. Williams
                                           Treasurer and
                                           Chief Financial Officer

