Intuit Inc. expects net income per share to rise by as much as 24 percent for fiscal year 2012.
The company also reported profit on an adjusted basis for the first time in 13 years, despite posting a wider net loss for its fourth quarter on Thursday.
The QuickBooks and TurboTax software developer reported a fourth-quarter net loss of $57 million, or 19 cents per share, for the period that ended July 31, compared with a loss of $48 million, or 15 cents per share, a year earlier.
For fiscal year 2012, the company said it expects revenue of $4.185 billion to $4.285 billion, which exceeds analyst expectations, and net earnings per share of $2.38 to $2.47.
Excluding a charge of $30 million related to buying health care services company Medfusion, Intuit reported earnings per share of 2 cents per share, which beat Wall Street estimates by 2 cents.
“Our results continue to demonstrate that our strategy is working and our execution is on track,” Intuit chief executive Brad Smith said in a statement. “Our core businesses, consumer tax and small business, which represent the majority of our revenue and operating income, both posted double-digit growth in fiscal year 2011. Looking ahead, our plans have assumed no improvement to economic conditions in the coming year. We expect to expand operating margins while investing in long-term growth. With the right strategy, financial discipline and focused team, we expect another strong year.”
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