Intuit posts wider 4Q loss on charges


MOUNTAIN VIEW, Calif. (AP) — Intuit Inc. reported on Thursday a bigger fiscal fourth-quarter loss as charges offset higher revenue for the maker of tax filing software Turbo Tax.

Still, Intuit’s adjusted results beat Wall Street expectations and it declared the company’s first-ever quarterly cash dividend. Its shares surged 5 percent in after-hours trading.

For the three months ended July 31, Intuit reported a loss of $57 million, or 19 cents a share, compared with a loss of $48 million, or 15 cents a share, in the year-ago period.

Excluding stock compensation costs, goodwill and other charges, adjusted earnings came to 2 cents a share, the company said.

On that basis, the latest quarterly results trumped analysts’ consensus forecast for break-even per share, according to FactSet.

Revenue rose 10 percent to $593 million, from $537 million, also was above analysts’ forecast. They expected $584.2 million.

The company said it expects first-quarter revenue to range from $575 million to $585 million and an adjusted loss ranging from 11 cents a share to 13 cents a share. On average, analysts expect revenue of $580.3 million and a loss of 11 cents a share.

For fiscal 2012, Intuit anticipates revenue between $4.2 billion and $4.3 billion, and adjusted earnings per share from $2.85 to $2.94. Analysts are anticipating annual revenue of about $4.2 billion and adjusted earnings of $2.85 a share.

Meanwhile, Intuit’s board of directors declared a dividend of 15 cents payable on Oct. 18 to shareholders of record on Oct. 10.

Intuit shares rose $2.15 to $42.45 in aftermarket trading. The stock dropped $2.08, or 4.9 percent, to $40.30 during the regular session amid a broad market sell-off.