Intuit backs 1Q, fiscal 2013 guidance

AP News
Posted: Sep 18, 2012 11:03 AM
Intuit backs 1Q, fiscal 2013 guidance

MOUNTAIN VIEW, Calif. (AP) — Intuit Inc. on Tuesday reaffirmed its financial guidance for the first quarter and full fiscal year 2013.

The software maker said it still expects to post a first-quarter loss of 20 cents or 21 cents per share, or a loss of 6 cents or 7 cents per share excluding one-time items. Revenue is projected at $630 million to $640 million.

Analysts polled by FactSet, who usually exclude one-time items, expect a loss of 6 cents per share on $639.4 million in revenue.

For the fiscal year ending July 31, the company said it still expects earnings of $2.76 to $2.82 per share, or $3.32 to $3.38 per share excluding one-time charges, on $4.55 billion to $4.65 billion in revenue.

Analysts expect a profit of $3.35 per share on $4.59 billion in revenue for the year.

Intuit, based in Mountain View, Calif., makes the TurboTax income tax preparation program and other accounting software, including the popular Quicken and QuickBooks program for households and small businesses.

Intuit shares rose 4 cents to $60.19 in morning trading. Its shares are 3.4 percent below their 52-week high of $62.33 in late February. They traded as low as $44.82 in October 2011.