Intuit reiterates fiscal 1Q, 2012 outlook

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MOUNTAIN VIEW, Calif. (AP) — Intuit Inc., the maker of Quicken and TurboTax software, reiterated its fiscal first-quarter and full-year financial outlook on its annual investor day Wednesday, saying it still expects a loss of 24 to 26 cents per share in the quarter that began Aug. 1.

The loss would compare with a loss of 22 cents per share that the business and financial software company reported in the 2011 fiscal first quarter.

Intuit also said it continues to anticipate a loss, excluding one-time items, of 11 to 13 cents per share in the first quarter. The company expects revenue to climb 8 to 10 percent to between $575 million to $585 million.

Analysts polled by FactSet expect a first-quarter adjusted loss of 12 cents per share on $580 million in revenue.

For the entire year, Intuit repeated its expectation for net income of $2.38 to $2.47 per share, which would represent 19 to 24 percent growth over the just-ended fiscal year. Adjusted net income is expected to total $2.85 to $2.94 per share.

The company expects revenue to rise 9 to 11 percent to between $4.19 billion and $4.29 billion.

Analysts expect adjusted earnings of $2.90 per share on $4.22 billion in revenue.