Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
JTX boards saying news is coming link I have no idea if its true or not. Thoughts?
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_J/forumview?bn=22127
weeeeeeeeeeeeeeeeeeeeeee!!!!!!!!!!!!!! Good Lawd!!!!!!!!!!!!!!Let her run Seabiscuit.
DD22
naaaaa..Really??? CASH is king
DD22
good news coming soon. load up
Time to Buy, Buy, Buy!!! DoubleDown22 likes JTX....
DD22
Looking good. Everything will fall in place. Be patient I believe this is fixing to run hard.
Some indirect news about JTX
http://finance.yahoo.com/news/Libert....html?x=0&.v=1
¤ø„¸¨°º¤ø„¸ ¸„ø¤º°¨¸„ø¤º°¨
¨°º¤ø„¸ HaPpY ¸„ø¤º°¨
¸„ø¤º°¨ NeW yEaR``°º¤ø„¸
¸„ø¤º ``°º¤ø„¸ ¤ø„¸¨°º¤ø„¸¸„
Yeah!!!!!!!!!! We got some RAL funding....well at least 45% for now and a recovering PPS.
wooop woooop!!!
DD22
I dont know about you fellows but I'm holding. To much potential to sell this early. RALs are very profitable short term and have little risk. Look at the major holders I dont see them dumping it.
I'm not sweating it, kinda amazed how its holding up. I believe we will be very happy soon. RALs are very profitable short term, JTX is well established and second only to H&R- turbo tax is pulling from both though.. Glad to see the upgrade, just a matter of time.
I think we will know soon enough...it is also interesting that several financial analysts have upgraded the stock SINCE we received the Pacific Bank news. Thomson Financial in particular changed their position from Sell to Buy just today. Now that is a big change in an analysis position. What do they know??
There are several banks that are very good candidates that could do this loan for Jackson-Hewitt besides Santa Barbara and a couple are already involved with JH in other products and smaller markets--MetaBank and Republic Bank. Will they step up to the plate or will Santa Barbara Bank get the Pacific deal done so they can continue to provide the RAL? After this is all said and done hopefully JH will have learned a valuable lesson and mitigate their risk by securing redundant means of financing these RALs over a long term. We'll see.
GLTA and bring on tax season!!!
DD22
I find it hard to believe they will not find funding. I'm all in and awaiting the news. It had some AH bites, so others are interested also.
I don't know how the market is gonna take this news. There will be a major bear vs bull battle tomorrow with the shorts pulling out the stops to drive this down.
This message is promising though and they seem to be very confident with the matter of fact language within it.
We'll see and I hope the best for the franchisees whose very business existence is contingent on this development. It would be like McDonalds not being able to serve hamburgers anymore affecting their sales.
DD22
I know...this stinks royally. If there is good news in this it is that they will have to move very quickly to secure new funding for the RAL (refund anticipation loan) as tax season starts in a couple of weeks. That is a huge part of the business as indicated in the 8K (75%) so it is crucial to get new funding for that.
It also makes them a lucrative buy out target going forward since we have taken a 25% haircut in one shortened trading session. The shorts will beat the crap out of this next week and up until something is announced about the future of the loan.
Damn...
DD22
Bummer. was out making xmas eve rounds. not the thing I wanted to open up and see on mobile.
Merry Christmas lol
bought some in the 4.60's earlier today, may buy more later. It will bounce if somebody picks up that service for them. Hopefully they are well into talks.
Nice strong close at just below HOD...soon we will attack the 6ssss.
DD22
Yes but it will depend on breaking and holding above (top testing-consolidating above) the current downtrend line at $6.00. Looking at last year she sold off after the Christmas rally so that will be a watching point as well to see if it consolidates higher or lower on a dip. There will be a major Bulls vs Bears battle at the 6ish line because that will be a profit taking point (50% gain) for many who got in near the recent bottom of low 4s. Regardless, IMO this train is going North overall over the next several months. It's tax time baby!!
All in my own opinion,
DD22
Great post doubledown22.
You planning on picking up anymore on the way up?
Possible but I think it is just a simpler fact of recovery from being oversold and undervalued and heading into traditionally their best quarter operationally. I think she continues North into the 7ish range as I called here back on December 10th.
This company's stock has been beaten down unfairly as many large caps have. I think this new CEO will get the company back on track and focusing on it's core fundamental strength--gaining market share in the individual tax preparation industry.
All IMO,
DD22
JTX HOD (5.74)
barreled through that resistance of 5.70
shorts covering?
Nice recovery today so far. When this breaks and holds above $5 may see this nice uptrend continue back into the 7ish range. Weekly and monthly charts are shaping up with stochastics and CMF heading North. Nice burst of volume the past week surrounding the Earnings release.
Tax season begins in less than 30 days and next quarter is the operationally their best one for revenues. CEO is focusing on getting back to fundamental core of business in individual tax preparation and adding an online product launch this tax year to gain market share against the likes of Turbo Tax and other electronic tax preparation software. That hopefully will add revenues over last year's quarter.
DD22
Jackson Hewitt Reports Fiscal 2010 Second Quarter Results
Date : 12/09/2009 @ 7:00AM
Source : PR Newswire
Stock : (JTX)
Quote : 4.75 0.62 (15.01%) @ 12:59PM
Jackson Hewitt Reports Fiscal 2010 Second Quarter Results
Adjusted Net Loss of $0.66 Per Basic and Diluted Share Preparations for 2010 Tax Season On Track
PARSIPPANY, N.J., Dec. 9 /PRNewswire-FirstCall/ -- Jackson Hewitt Tax Service Inc. ("Jackson Hewitt") (NYSE:JTX) today reported financial results for the second quarter of fiscal 2010. Jackson Hewitt reported a net loss of $19.5 million, or $0.68 per basic and diluted share, versus a net loss of $22.2 million in the second quarter of fiscal 2009, or $0.78 per basic and diluted share. On an adjusted basis, Jackson Hewitt's net loss in the 2010 second quarter was $18.9 million, or $0.66 per basic and diluted share, versus an adjusted net loss of $20.4 million, or $0.72 per basic and diluted share, in the year ago quarter. A schedule entitled Condensed Adjusted Results of Operations, which reconciles the reported and adjusted results, accompanies this earnings release
Jackson Hewitt has historically generated roughly 2% of its total annual revenues in each of the first two fiscal quarters due to the seasonal nature of the tax return preparation business. Additionally, Jackson Hewitt incurs a net loss during the first and second fiscal quarters
Reported consolidated total revenues in the 2010 second quarter were $4.0 million, versus $5.1 million in the 2009 second quarter
"I am pleased to report that we are on track with our plans and preparations for the approaching 2010 tax season," said Harry W. Buckley, Jackson Hewitt's president and chief executive officer. "We recently reached amended agreements with our two bank partners and our financial product plans for the 2010 tax season are set. Thanks to the diligence of our dedicated Walmart team, I am excited to report that we will be operating in greater than 1,800 Walmart stores for the 2010 tax season under our exclusive arrangement with Walmart. This is good news and an excellent incremental growth opportunity of which we plan to take full advantage. Lastly, our online product team has been making great progress and, as planned, is set to launch our first ever online tax preparation product this tax season."
"As I stated previously," continued Buckley, "we are executing a back to basics approach, with a keen focus on our clients and tax preparation business. Our entire organization remains firmly focused on this approach, with the objective of gaining back market share and putting Jackson Hewitt on a course toward sustainable profitable growth."
Franchise Operations
Reported revenues in the 2010 second quarter were $3.5 million, versus $4.6 million in the 2009 second quarter. The revenue decrease in the second quarter this year versus the year ago quarter was primarily due to lower revenues from territory sales, recorded in the Franchise Operations "Other" revenue line, which reflected the impact of a new territory sales incentive program for our exclusive Walmart relationship. This program provided for a lower purchase price for new territories to enable franchisees to open up in otherwise vacant Walmart markets, and for the purchase obligation to be due and payable over the period of our relationship with Walmart
Accordingly, while the number of territory sales in the 2010 second quarter was 116 (nearly all of which were Walmart distribution channel expansion related), and significantly above the 61 territories sold in the 2009 second quarter, the revenue earned was lower. Territory sales through the first six months of the 2010 fiscal year total 116, versus 65 territory sales over the same period last fiscal year
The majority of financial product fees earned in the first and second quarters of each year relate to sales of the Gold Guarantee® product from prior tax seasons that are amortized into revenue over the term of the contract
Reported total expenses in the franchise segment were $14.0 million in the 2010 second quarter, versus $15.7 million in the 2009 second quarter. The year-over-year expense improvement was primarily due to reduced marketing expenses, including the elimination of a prior sponsorship arrangement, as well as lower headcount versus last year's second quarter
Company-Owned Offices
Reported service revenues from operations in the company-owned offices segment were $0.5 million, versus $0.4 million in the year ago quarter. Reported total expenses in the 2010 second quarter were $9.3 million, versus $10.6 million in the 2009 second quarter, reflecting lower cost of operations due to restructuring and lease termination actions since last year's second quarter. In total, the loss before income taxes in the company-owned offices segment in the 2010 second quarter decreased to $8.7 million, versus $10.2 million in the year ago quarter
Corporate and Other
On a reported basis, the corporate and other loss before income taxes was $14.3 million in the 2010 second quarter, versus a reported loss before income taxes of $15.9 million in the 2009 second quarter. The second quarter favorable variance reflects the absence of a $2.8 million expense recorded in the 2009 second quarter in connection with the previously disclosed Hood litigation settlement, partially offset by higher severance and consulting expenses
Bank Partner Agreements in Place for 2010 Tax Season
In a Current Report on Form 8-K filed with the Securities and Exchange Commission on November 24, 2009, Jackson Hewitt disclosed that it had entered into amendments to its agreements with its two bank partners with respect to their offering of financial products, including refund anticipation loans, for the 2010 tax season. Under the amended agreements, Jackson Hewitt anticipates that Santa Barbara Bank & Trust ("SBBT"), a division of Pacific Capital Bank, N.A., and Republic Bank & Trust Company ("Republic"), will provide roughly the same proportion of the overall program for financial products in the 2010 tax season as each provided in the 2009 tax season. Jackson Hewitt further anticipates that the amended agreements with the banks, including Jackson Hewitt's amendments to the MetaBank d/b/a Meta Payment Systems agreements, when coupled with related customer and franchisee program changes, will not materially impact its planned 2010 fiscal year income
Walmart Update
As part of our exclusive arrangement with Walmart, for the 2010 tax season, Jackson Hewitt expects to operate in 1,800 to 1,900 Walmart stores, with approximately 85% of these locations operated by Jackson Hewitt's franchisees and approximately 15% operated by Jackson Hewitt's company-owned offices. The current range for Walmart stores that Jackson Hewitt plans to operate in is above the high end of the previously communicated range of 1,500 to 1,750 Walmart stores, a result of diligent work by Jackson Hewitt's Walmart team and our Walmart colleagues, as well as continued strong interest and support from Jackson Hewitt's franchise operators
Analyst Conference Call
Harry W. Buckley, president and chief executive officer, and Daniel P. O'Brien, executive vice president and chief financial officer, will host an analyst conference call this morning, Wednesday, December 9, 2009, at 8:30 a.m. (EST), to discuss the fiscal 2010 second quarter results and preparations for the 2010 tax season. Please visit the investor relations tab of the Company's website, http://www.jacksonhewitt.com/, at least 10 minutes prior to the beginning of the call in order to access the webcast. If you are unable to listen to the live webcast, a replay will be available on this website
About Jackson Hewitt Tax Service Inc
Due for a bounce here off these all time lows...3rd Quarter should produce some favorable revenue numbers. Especially if the online tax product launch is successful and carves into the market share of Turbo Tax and other tax software programs. All IMO.
DD22
JTX is dumping and selling. This POS ain't got a prayer.
JTX ~Jackson Hewitt Alerts Taxpayers of Fall Deadlines and Recent Tax Law Changes
--October 15 is Final Deadline For Filing a 2008 Tax Return
PARSIPPANY, N.J., Sept 14, 2009 /PRNewswire-FirstCall via COMTEX/ -- Jackson Hewitt Tax Service says now is the time to get smart about fast-approaching deadlines and recent changes to tax law. Most pressing is the October 15 extension deadline for filing a 2008 tax return. And then there are the tax laws that have been recently introduced or modified that can help taxpayers take advantage of a range of new credits and deductions that may benefit them when filing a 2009 tax return.
Taxpayers that filed for an extension for a 2008 tax return (using Form 4868) on or before April 15, 2009, must complete and file their taxes by October 15, 2009, in order to meet the deadline.
"Remember, an extension of time to file is not an extension of time to pay," explained Mark Steber, chief tax officer at Jackson Hewitt. "If you have a balance due, you will have penalty and interest to pay, which has been accumulating on that balance since April 15. However, if you filed for an extension, you will not be charged a late filing penalty as long as you submit your tax return by October 15."
In addition to the upcoming extension deadline, Steber highlighted four additional tax considerations to keep top of mind between now and year's end:
-- First Time Homebuyer Credit: If you purchased, or plan to purchase, your
first home between December 31, 2008 and December 1, 2009, you can claim
a refundable credit of 10 percent of the purchase price, up to $8,000
($4,000 if married and filing separately) on your 2009 return. If you
have already filed your 2008 income tax return before you purchased your
home, you can claim the credit by amending your 2008 tax return, or you
can wait and claim the credit when you file your 2009 tax return. This
credit does not have to be repaid unless you sell the home within 36
months.
-- Earned Income Tax Credit: On February 17, 2009, the President signed
into law a bill that provided significant changes to the Earned Income
Tax Credit, most notably an additional amount of credit for three or
more qualifying children, higher income thresholds and the total dollar
amount of each credit type. This means more American taxpayers may be
able to claim the credit.
-- Unemployed or Looking for a Job in 2009?: Please note, for tax year
2009, only the first $2,400 of unemployment compensation is excluded
from tax. All unemployment compensation beyond the first $2,400 is
taxable. Take stock now to avoid a surprise financial hit during tax
season. Also, many taxpayers also forget to keep track of the miles they
drive, parking fees or tolls, employment agency fees, resume fees, long
distance calls and other fees associated with job hunting. If you
itemize on your tax return, you may be able to claim these job hunting
expenses as a miscellaneous deduction.
-- Get organized now: It's never too early to start planning for
filing an annual tax return. Start storing important receipts and
paperwork that may help you when you file, such as proof of payment for
home improvements, medical expenses and items donated to charity.
Keeping tax-related documentation in a shoe box, folder or dedicated
drawer in a safe, easy-to-access location can mean less scrambling
during tax time - and potentially more money in your pocket.
Many Jackson Hewitt offices are open year-round to assist taxpayers with tax planning and preparation. Additionally, information on these tips and other tax considerations can be accessed by going to www.jacksonhewitt.com. To speak with a local tax preparer or find the Jackson Hewitt office nearest to you, call 1-800-234-1040.
About Jackson Hewitt Tax Service Inc.
Jackson Hewitt Tax Service Inc. (NYSE: JTX), with approximately 6,600 franchised and company-owned offices throughout the United States during the 2009 tax season, is an industry leader providing full service individual federal and state income tax return preparation. Most offices are independently owned and operated. Jackson Hewitt is based in Parsippany, New Jersey. More information may be obtained at www.jacksonhewitt.com. To locate the Jackson Hewitt Tax Service(R) office nearest to you, call 1-800-234-1040.
Jackson Hewitt Showcases Tax School Through Free Nationwide Online Seminar
--Interactive Presentation Slated for Thursday, September 17, 2009 at 3:30 PM EDT
PARSIPPANY, N.J., Sept 14, 2009 /PRNewswire-FirstCall via COMTEX/ -- Interested in learning about the dynamic world of tax preparation? Now you can - at no cost, from the comfort of your own home or office. On Thursday, September 17 at 3:30 PM EDT, Jackson Hewitt Tax Service(R) will present a free, online seminar on the benefits of enrolling in Jackson Hewitt Tax School. Attendees will get a behind-the-scenes look at tax preparation, a short tax course demonstration and information on how to sign up for Tax School at their local Jackson Hewitt office. To register for this free seminar, visit www.taxschool.com and click on the link "Want to know more about Tax School?" Participants are encouraged to pre-register, as space is limited to the first 1,000 registrants.
The online Tax School presentation is a 30-minute seminar that provides:
-- An overview of Jackson Hewitt Tax School and the three methods used to
deliver tax courses - choose a traditional instructor led-classroom
course, a computerized classroom course facilitated by an instructor, or
an online course.
-- A Tax School course topic demonstration - take a look at the content
provided and how it is presented in a particular course.
-- Information on how to enroll in tax courses at your local Jackson Hewitt
office.
"Enrolling in this online session is an easy way for people across the country to learn about Jackson Hewitt Tax School offerings," said Mark Steber, chief tax officer at Jackson Hewitt Tax Service. "Individuals who complete tax courses acquire knowledge that can help them identify money-saving credits and deductions for their own tax situation."
In addition to learning to prepare their own taxes, many Tax School graduates acquire career-enhancing skills, which may enable them to pursue employment opportunities within the tax preparation industry.*
"It's a great way for stay-at-home parents, retirees, those looking to supplement their income from other jobs, or people looking for a new career challenge to learn how to prepare an individual tax return as well as gain an understanding of the latest tax laws," added Steber. "Students learn a number of valuable, transferable skills, which can be a great addition to any resume."
To learn more about the Jackson Hewitt Tax School nearest to you, and make sure, especially in this economy, that you are keeping or getting back the money you deserve, call 1-800-234-1040.
* Completion of course is neither an offer nor a guarantee of employment. Additional training or experience may be required. Most offices are independently owned and operated.
About Jackson Hewitt Tax Service Inc.
Jackson Hewitt Tax Service Inc. (NYSE: JTX), with approximately 6,600 franchised and company-owned offices throughout the United States during the 2009 tax season, is an industry leader providing full service individual federal and state income tax return preparation. Most offices are independently owned and operated. Jackson Hewitt is based in Parsippany, New Jersey. More information may be obtained at www.jacksonhewitt.com. To locate the Jackson Hewitt Tax Service(R) office nearest to you, call 1-800-234-1040.
JTX hit a little double bottom recently.
It's come a long ways since the bottom.
JTX chart, looks ready for pop
The only downside is that JTX will have to weather the year with cash on hand or borrow until the next tax season. I guess the suspension of this years dividends was a means to that end. Regardless, I believe that the market overeacted to the suspension of the dividends and there should be a decent upside to come. I'm still looking through the financials to get a better idea of where this stands. For me it's a bounce play and nothing more.
Agreed. Walmart seems to be the magical method to boost revenues. Can't argue that. Just seem odd to go to Walmart for meds and taxes. Perhaps that's a good combo..lol.
LOL, but it should significantly increase the revenue stream for JTX.
Walmart and Taxes... There's a combination. LOL. Kinda scary.
JTX: "On March 4, 2009, we issued a press release announcing our selection on March 4, 2009 by Walmart to be the exclusive provider of tax preparation services in Walmart stores beginning in the 2010 Tax Season. A copy of the press release is attached hereto as Exhibit 99.1, which is incorporated by reference in its entirety."
I keep it on watchlist for screen #2 -- it can trade nicely one people realize the chart.
This chart looks good waiting to pass MA 50...than should be a solid buy IMO
Looks good... I love playing in the gutters.
I'm in...JTX
In at 3.25
Followers
|
5
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
473
|
Created
|
03/04/08
|
Type
|
Free
|
Moderators |
| ||||||||
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |