Intuit Inc. (INTU: Quote), a provider of tax-preparation software, on Tuesday affirmed its financial guidance for the first quarter and full fiscal year 2013. The outlook was initially provided by the company on August 21.
Ahead of its annual investor day being held today, Mountain View, California-based Intuit maintained its outlook for first-quarter loss per share of $0.20 to $0.21, adjusted loss per share of $0.06 to $0.07, and revenue of $630 million to $640 million.
On average, analysts polled by Thomson Reuters expect the company to report loss of $0.06 per share for the quarter on revenue of $639.28 million. Analysts' estimates typically exclude special items.
For fiscal year 2013, Intuit continues to expect earnings per share of $2.76 to $2.82, adjusted earnings per share of $3.32 to $3.38, and revenue of $4.55 billion to $4.65 billion. Analysts expect the company to earn $3.36 per share for the year on revenue of $4.59 billion.
Intuit's fiscal year runs from August 1 to July 31.
Intuit said that at its annual investor day, President and Chief Executive Officer Brad Smith will outline the company's evolving connected services strategy that builds on its position in cloud, mobile and data services for consumers and small businesses to accelerate growth.
The company's chief financial officer Neil Williams and business segment leaders will present financial and business segment plans for fiscal year 2013. In addition, Intuit will showcase several innovations, including recently launched products, in-market experiments and early prototypes.
In mid-August, Intuit reported a profit for the fourth quarter, helped mainly by growth at its small business group and other segments, as well as gains from discontinued operations.
Net income for the fourth quarter was $4.0 million or $0.01 per share, compared to net loss of $57 million or $0.19 per share in the prior-year period. Revenues for the quarter rose to $651 million from $573 million in the same period of the previous year.
In Tuesday's regular session, INTU is trading at $60.28, up $0.13 or 0.22 percent on a volume of 1.54 million shares.
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by RTT Staff Writer
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