Intuit Narrows Loss in Quarter

Intuit Inc., a maker of financial software, narrowed its fiscal fourth-quarter loss from a year earlier, helped by strong performance from its TurboTax business.

Intuit issued a mixed forecast for the new fiscal year, estimating that its profit could be below the current average of analysts’ estimates on stronger-than-anticipated revenue.

The Mountain View, Calif.-based company said Tuesday that it lost $18.9 million, or 6 cents a share, on revenue of $342.9 million in its quarter ended July 31.

Excluding one-time items, the loss was 3 cents a share. Analysts expected a loss of 4 cents a share, Thomson Financial said. In the same period last year, it lost $20 million, or 6 cents a share, on sales of $301.8 million.

For its fiscal first quarter, Intuit expects a loss of 12 cents to 14 cents a share excluding one-time items, and revenue of $335 million to $350 million. Wall Street has been expecting a first-quarter loss of 14 cents a share and revenue of $329 million. Intuit sees most of its sales and profit in its second and third quarters. It normally posts a loss in its first and last quarter, when its tax-related revenue falls off.

For fiscal 2006, profit rose 9% to $417 million, or $1.16 a share. Sales rose 15% to $2.34 billion.

For fiscal 2007, the company is targeting earnings of $1.36 to $1.40 a share excluding one-time items, and revenue of $2.53 billion to $2.58 billion.

Analysts have been expecting fiscal 2007 earnings of $1.40 a share. Chief Executive Steve Bennett said the company had good prospects for the next few years.

“We’ve come off two record years with a lot of momentum,” he said. “We go into the next few years feeling great about our prospects.”

Bennett said he expected Intuit’s small-business and consumer tax preparation products to drive the company’s prospects in the coming year.

Intuit reported its results after the close of regular trading. Its shares, which fell 1 cent to close at $31.09, rose 41 cents to $31.50 in extended trading.