Intuit Reiterates Guidance – Analyst Blog
Source: http://www.zacks.com/stock/news/25225/Intuit+Reiterates+Guidance+-+Analyst+BlogPosted on Friday, September 25th, 2009 | In Investing Lessons, Stocks to Watch
Intuit Inc. (INTU) recently reiterated its guidance for the first quarter and full fiscal year 2010. California-based Intuit is a leading provider of business and financial management solutions. Its flagship products and services include QuickBooks, Quicken and TurboTax.
The company expects first-quarter revenue between $479 million and $493 million, up 0% – 2% year over year. Net loss (excluding one time charges/gains) is projected between 19 cents and 15 cents.
For full-year 2010, Intuit sees sales between $3.30 billion and $3.43 billion, up 4% – 8%. Earnings per share (EPS) are estimated between $1.89 and $1.96.
Last month, the company reported weak results for the fiscal fourth quarter as there was a fall in sales growth from tax software as the number of tax filers did not increase as per historical levels.
Management had then stated that it expects a strong rebound or significant weakening. Intuit has yet to see a sustainable improvement in lead indicators such as retail sales and new business starts. The company also said that expenses would tend to be more frontloaded for the fiscal year as it launches new products in the market.
Last week, the company announced that it will acquire California-based provider of online personal financial services Mint.com for $170 million. The transaction is expected to close during the fourth quarter of calendar year 2009 (see here for our recent blog on this topic). Following the close of the transaction, Intuit expects to lower its fiscal year 2010 EPS guidance by approximately 2 cents.
We expect the company will improve its margins even in the face of new products. We maintain our NEUTRAL rating on the stock.
Read the full analyst report on “INTU”
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