(RTTNews) - Business and financial management solutions provider Intuit Inc. (INTU: News ) on Wednesday reaffirmed its financial guidance for the fiscal 2010 first quarter and the full fiscal year 2010. The company originally issued earnings and revenue forecast for the periods while reporting fourth quarter and full year 2009 financial results on August 20.

Historically, the first quarter of the fiscal year is viewed as a weak one in comparison with the second and third quarters, when small businesses resort to buying new packages for their accounting and will be busy preparing the tax statements. Intuit usually reports a loss during the first quarter of the fiscal year.

Mountain View, California-based Intuit said it continues to expect a GAAP net loss in a range of $0.28 to $0.24 per share for the first quarter of 2010. Non-GAAP net loss for the quarter is still expected to be in the range of $0.19 to $0.15 per share.

On average, fifteen analysts polled by Thomson Reuters expects the company to report a loss of $0.16 per share for the first quarter. Analysts' estimates typically exclude special items.

Intuit said it continues to expect first-quarter revenues in the range of $479 million to $493 million, representing flat to 2% growth over the year-ago quarter. Fourteen Wall Street analysts have a consensus revenue estimate of $487.69 million for the quarter.

Intuit also continues to anticipate GAAP operating loss for the first quarter to be between $126 million to $107 million and non-GAAP operating loss in the range of $79 million to $60 million. Intuit typically posts a seasonal loss in its first quarter when it has little revenue from its tax businesses, while expenses remain relatively constant.
Looking ahead to fiscal 2010, Intuit also reaffirmed its GAAP earnings outlook in a range of $1.49 to $1.56 per share, and non-GAAP earnings for the year is still expected to be in the range of $1.89 per share to $1.96 per share.

The Street is looking for Intuit to report earnings of $1.94 per share for fiscal 2010.

Intuit also continues to see fiscal 2009 revenues in the range of $3.30 billion to $3.43 billion, representing a 4% to 8% year-over-year growth. Analysts are looking for full year 2010 revenues of $3.37 billion.

The company said it also continues to expect full-year GAAP operating income between $785 million and $825 million, representing a growth of 15% to 21%, and non-GAAP operating income in the range of $985 million to $1.025 billion, representing a growth of 6% to 10%. Non-GAAP operating margin is seen to be between 29% and 30%.

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