Intuit Tax Biz Slows


Intuit's Professional Accounting Solutions, largely its ProSeries and Lacerte operations, posted a 3 percent increase in revenue for the year ended July 31.

The company reported $251.9 million in revenue for the unit, but that included only 3 percent growth for the segment during the April quarter, with software sales actually declining. Overall, Intuit had net income of $317 million, down from $343 million for fiscal 2003. Revenue for 2004 was $1.87 billion, up 13 percent from the prior year.

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