JTX ,,, Jackson Hewitt Boosts Year Outlook
Thursday May 12, 5:32 pm ET
Jackson Hewitt Boosts Outlook for Full-Year Profit on Strong Tax Preparations
PARSIPPANY, N.J. (AP) -- Jackson Hewitt Tax Service Inc. on Thursday said the number of tax returns it prepared in the just-completed fiscal year rose almost 6 percent from a year ago, and the company raised its outlook for net income and revenue.
ADVERTISEMENT
The nation's No. 2 tax preparer behind H&R Block said its network of franchised and company-owned offices prepared 3.3 million tax returns in fiscal 2005, up 5.9 percent from a year earlier, and at the high end of its previous guidance. Revenue per return increased by rough 6.7 percent, which is within the 6 percent to 8 percent range previously given by the company.
The company, which operated almost 5,500 locations at the end of tax season, said it now expects to post earnings of $1.30 to $1.33 per share for the fiscal year, up from an earlier forecast of $1.15 to $1.19. Revenue is expected to total $229 million to $232 million, above the earlier projection of $220 million to $225 million. The new estimates reflect larger-than-expected revenue and profit from financial products, primarily from an agreement with Santa Barbara Bank & Trust regarding refund anticipation loans.
Analysts surveyed by Thomson Financial were expected the company to report earnings for the year of $1.16 per share on revenue of $222.5 million.
Jackson Hewitt shares rose 13 cents to $18.75 on the New York Stock Exchange.
Email Story
Set News Alert
Print Story
Caspermick
"TOUGH TIMES NEVER LAST BUT TOUGH PEOPLE DO."
God Bless America
In Gambling,,,Playing Card Games. Ya Never Know What The Next Hand Will Look Like.
Ten Bagger Potential Stock
AI
