Summary
Intuit Inc. reported its first quarter results for fiscal year 2012, ending October 31, 2011. The company demonstrated revenue growth of 12% year-over-year, reaching $594 million, primarily driven by its Small Business Group which saw a 13% increase. Despite revenue growth, Intuit reported a net loss of $64 million ($0.21 per diluted share), a slight improvement from the $70 million net loss ($0.22 per diluted share) in the prior year's comparable quarter. This loss is largely attributed to the seasonal nature of its tax businesses, which typically results in lower revenue and higher operating expenses in the first quarter. Financially, the company maintained a strong liquidity position with $1.1 billion in cash, cash equivalents, and investments. Intuit continued its capital return strategy, repurchasing $255 million in stock and initiating its first quarterly cash dividend of $0.15 per share. The company's strategic focus remains on growing its connected services and adapting to technological changes, while managing competitive pressures and seasonal business cycles.
Financial Highlights
51 data points| Revenue | $562.00M |
| Cost of Revenue | $139.00M |
| Gross Profit | $423.00M |
| R&D Expenses | $163.00M |
| Operating Expenses | $496.00M |
| Operating Income | -$73.00M |
| Interest Expense | $15.00M |
| Net Income | -$19.00M |
| EPS (Basic) | $-0.06 |
| EPS (Diluted) | $-0.06 |
| Shares Outstanding (Basic) | 300.00M |
| Shares Outstanding (Diluted) | 300.00M |
Key Highlights
- 1Total net revenue increased 12% to $594 million, driven by a 13% increase in the Small Business Group.
- 2Reported a net loss of $64 million, an improvement from $70 million in the prior year's quarter, with a diluted loss per share of $0.21.
- 3Cash, cash equivalents, and investments totaled $1.1 billion, indicating strong liquidity.
- 4The company initiated its first quarterly cash dividend of $0.15 per share, totaling $45 million.
- 5Significant share repurchases continued, with $255 million spent on stock buybacks during the quarter.
- 6Operating loss decreased by 10% to $94 million, primarily due to higher revenue offsetting increased operating expenses, including staffing.
- 7The company experienced revenue growth across most segments, including Financial Management Solutions (9%), Employee Management Solutions (13%), Payment Solutions (19%), Financial Services (9%), and Consumer Tax (39%), though Other Businesses saw a slight decrease of 3%.