Intuit forecasts wider 1st-quarter loss, fiscal-year profit below Wall Street view
By APThursday, August 20, 2009
Intuit 1Q loss forecast wider than Street view
MOUNTAIN VIEW, Calif. — Personal finance and business software maker Intuit Inc. on Thursday said it expects a wider fiscal first-quarter loss than Wall Street analysts forecast.
The company said it expects a loss between 24 and 28 cents per share for the quarter ending in October. Adjusted loss is expected to be between 15 cents and 19 cents per share.
Analysts surveyed by Thomson Reuters, on average, expect an adjusted loss of 8 cents per share, with estimates ranging from a loss of 2 cents to a loss of 13 cents.
Intuit forecast revenue between $479 million to $493 million.
Wall Street expects revenue of $488.5 million, with estimates from $467.8 million and $509 million.
For fiscal year 2010, Intuit said it expects profit between $1.49 and $1.56 per share, on revenue ranging between $3.3 billion to $3.43 billion
Analysts expect profit of $2 per share, with estimates ranging from $1.90 to $2.10. Revenue estimates average $3.35 billion, with a range of $3.23 billion and $3.45 billion.
In aftermarket electronic trading, Intuit shares fell $1.10, or 3.6 percent, to $29.75, after closing the regular session up 17 cents at $30.85.
