Kansas City, Mo. (Dec. 1, 2003) -- Citing better cost controls in its tax business, tax-prep giant H&R Block Inc. posted second-quarter profits of $10.4 million for the period ended Oct. 31, compared with a loss of $37.3 million for the same period one year ago.
H&R Block said it was the first second-quarter profit in the company’s history.
Due to the timing of tax-filing season, the company had heretofore reported losses during the first three quarters of the year. It also posted a profit during its first quarter, which also was its first-ever quarterly profit for the first period.
Meanwhile, second-quarter systemwide revenues jumped roughly 23 percent, to about $580 million, versus one year ago.
-- WebCPA staff
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