Intuit Misses Estimates, Predicts Weak Q1

by Christopher Freeburn | August 22, 2012 9:27 am

Intuit Misses Estimates, Predicts Weak Q1

Intuit (NASDAQ:INTU[1]) said on Tuesday that it earned $4 million during its fiscal fourth quarter[2], compared to a loss $57 million in the same period last year.

The software maker recorded revenue of $651 million, up 14% from 2011. But that still fell just short of the $652.5 million that Wall Street had been looking for, Reuters noted.

Adjusted EPS for the quarter was 3 cents, which also missed analysts’ forecasts of 6 cents a share.

Looking forward, the creator of TurboTax software predicted a loss of between 6 cents and 7 cents a share for the fiscal first quarter. Revenue for the current quarter is anticipated to range from $630 million to $640 million.

The guidance was well below Wall Street’sĀ estimatesĀ for revenue of $653.1 million and earnings of 8 cents a share.

Shares of Intuit slipped fractionally in pre-market trading on Wednesday.

On a brighter note, Intuit increased its quarterly dividend to 17 cents a share, up 13% from previous dividends.

Company officials said growth in consumer tax preparation products like TurboTax — which generate 50% of revenues — had been flat compared to last year.

Endnotes:
  1. INTU: http://studio-5.financialcontent.com/investplace/quote?Symbol=INTU
  2. during its fiscal fourth quarter: http://www.reuters.com/article/2012/08/21/us-intuit-results-idUSBRE87K12620120821

Source URL: http://investorplace.com/2012/08/intuit-misses-estimates-predicts-weak-q1/
Short URL: http://invstplc.com/1ftHrLX