Date : 08/30/2016 @ 6:20PM
Source : Dow Jones News
Stock : Bofi Holding, Inc. (MM) (BOFI)
Quote : $22.08 -0.9 (-3.92%) @ 4:59PM
H&R Block Inc. on Tuesday reported weaker-than-expected results for its latest quarter as the tax-service provider said it had fewer customers in the U.S. and suffered from currency woes.
Shares of H&R Block, down 30% this year, fell 5.6% to $22.85 in after-hours trading. The company noted that, because of the seasonal nature of its business, its fiscal first quarter is not indicative of full-year results.
"The fiscal first quarter typically represents less than 5% of annual revenues and less than 15% of annual expenses," the company said in a statement.
Still, H&R Block missed Wall Street expectations amid changes to the company's balance sheets after the sale of its bank business to a unit of BofI Holding Inc. The move resulted in the reclassification of certain revenue and the loss of some investment income.
Under the agreement, BofI Federal Bank would act as the bank for H&R Block-branded financial-services products, such as lines of credit and prepaid debit cards. H&R Block also sold securities related to the bank.
In April, H&R Block said it was laying off 250 workers during a disappointing tax season. H&R Block said it handled 5.8% fewer U.S. tax returns in the most recent tax season and planned to restructure operations, including laying off nearly 13% of its workforce.
For the period ended July 31, H&R Block reported a loss of $123.7 million, or 56 cents a share, wider than its loss of $99.7 million, or 36 cents a share, a year earlier. Excluding items, adjusted per-share earnings sank to a loss of 55 cents from a loss of 35 cents a year ago.
Revenue fell 9.1% to $125 million.
Analysts polled by Thomson Reuters expected per-share loss of 53 cents and revenue of $133 million.
http://ih.advfn.com/p.php?pid=nmona&article=72319849
A creditor has a better and much longer memory than a debtor. ":~[
Recent AX News
- Axos Financial, Inc. Reports Third Quarter Fiscal 2024 Results • Business Wire • 04/30/2024 08:05:00 PM
- Axos Bank Named to the 2024 Forbes America’s Best Banks • Business Wire • 04/11/2024 05:54:00 PM
- Axos Financial, Inc. to Announce Third Quarter Fiscal 2024 Results on April 30, 2024 • Business Wire • 03/27/2024 08:05:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/11/2024 03:44:08 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/08/2024 06:14:35 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 03/07/2024 09:09:15 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/29/2024 09:36:42 PM
- Form S-3ASR - Automatic shelf registration statement of securities of well-known seasoned issuers • Edgar (US Regulatory) • 02/29/2024 09:12:47 PM
- Form 144/A - Report of proposed sale of securities: [Amend] • Edgar (US Regulatory) • 02/27/2024 11:31:59 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/27/2024 10:42:42 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 09:07:53 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/14/2024 10:33:11 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/12/2024 09:10:25 PM
- Axos Financial, Inc. Announces New $100 Million Stock Repurchase Program • Business Wire • 02/12/2024 09:05:00 PM
- Axos Bank Listed Among the Best Business Checking Accounts by Forbes Advisor • Business Wire • 02/12/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/08/2024 09:22:46 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/06/2024 09:56:26 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/05/2024 04:49:51 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/31/2024 09:04:08 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 01/30/2024 09:21:28 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/30/2024 09:13:23 PM
- Axos Financial, Inc. Reports Record Second Quarter Fiscal 2024 Results • Business Wire • 01/30/2024 09:05:00 PM
- Axos Bank Named A Top Bank In Checking Accounts by GOBankingRates.com • Business Wire • 01/23/2024 06:30:00 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 01/23/2024 04:52:27 PM
- Axos Financial, Inc. to Announce Second Quarter Fiscal 2024 Results on January 30, 2024 • Business Wire • 12/28/2023 09:05:00 PM
FEATURED Cannabix Technologies Launches New Compact Breath Logix Workplace Series and Prepares for Delivery to South Africa • May 7, 2024 8:51 AM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM