HRB » Topics » Outlook

This excerpt taken from the HRB 8-K filed Jun 30, 2009.

Outlook

 

The Company expects fiscal 2010 earnings from continuing operations to be in the range of $1.60 to $1.80 per share.  

 

“Moving forward, we are repositioning our core tax business for renewed and sustainable growth, while continuing to take excessive costs out of the retail structure.  We have recently changed advertising firms, and plan new and more effective marketing efforts during the coming year.  We also plan other steps designed to do a better job of attracting and retaining tax clients, and significantly improving the overall client experience,” said Russ Smyth.  “At the same time, we believe we have significant opportunities to continue to grow our digital business.  We will improve our digital products for next year, and better integrate digital and retail operations and products.  We believe we can create a more seamless operation capable of serving our clients the way they want to be served,” added Smyth.   

 

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This excerpt taken from the HRB 8-K filed Dec 8, 2008.

Outlook

 

The Company is reaffirming its fiscal 2009 earnings guidance of $1.60 to $1.70 per share from continuing operations. It is important to note that the Company is only halfway through its fiscal year and it generates nearly all of its earnings in its fiscal fourth quarter. The Company looks forward to sharing more information regarding the tax season as well as longer term plans for accelerated business growth at its Investment Community Conference on Jan. 13.

 

This excerpt taken from the HRB 8-K filed Jun 30, 2008.

Outlook

 

The Company expects fiscal 2009 earnings from continuing operations to be in the range of $1.60 to $1.70 per share. During fiscal 2009, the Company anticipates increasing marketing expenditures and making other investments to continue driving market share growth in core retail tax services, and to enhance market share in online and other digital tax solutions. The Company also has embarked on a program to refresh and upgrade the technology available in retail tax offices.

 

 

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H&R Block Reports Fiscal 2008 Fourth Quarter and Full Year Results/page 5

 

 

 

At the same time, the Company anticipates further steps to enhance margins in its field operations that it believes will yield considerable cost savings or margin improvements over the next three years. This program will include savings in occupancy expense through conversion of some locations from Company-operated full service locations to franchisee-operated Express Tax locations, improved controls on discounting, enhanced managerial efficiency and other steps to enhance margins without impairing customer growth patterns. The Company also anticipates continuing margin growth at its McGladrey unit, with pretax margins increasing to more than 12 percent in FY09. Margin expansion opportunities also exist with both H&R Block Bank and HRBFA.

 

“We are prudently managing all our businesses for better performance and improved margins,” said Alan Bennett, Interim Chief Executive Officer. “While we are not providing earnings guidance beyond fiscal 2009, we are confident that for the three-year horizon through fiscal 2011, we can realize significant gains in earnings per share through unit growth, greater efficiency in our tax and other operations, and capital deployment, rather than relying solely on annual price increases for growth,” added Bennett.

 

This excerpt taken from the HRB 8-K filed Dec 11, 2007.

Fiscal 2008 Outlook

 

“For more than 50 years H&R Block has helped prepare and file nearly 500 million tax returns. We have earned a position of trust with millions of Americans, and we are excited to return to our roots with renewed focus on maximizing our considerable strengths in the tax business,” said Breeden.

 

The company reaffirmed its earnings guidance for fiscal 2008 of $1.30 to $1.45 per share from continuing operations. However, given that the company expects to incur incremental borrowing costs, it believes earnings will be toward the lower end of the guidance range.

 

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This excerpt taken from the HRB 8-K filed Aug 30, 2007.

Fiscal 2008 Outlook

 

“We took major steps last year to simplify the company’s business mix and sharpen our focus on our tax, accounting and related financial services businesses,” Ernst said. “Based on first quarter results for our continuing operations, fiscal 2008 is off to a good start.”

 

The company has updated its range of expected earnings from continuing operations for fiscal 2008 to $1.30 to $1.45 per share, narrowing it from the prior expectation of $1.25 to $1.45 per share. Earnings from continuing operations were $1.15 per share in fiscal 2007.

 

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This excerpt taken from the HRB 8-K filed Jun 21, 2007.

Fiscal 2008 Outlook

 

The company expects fiscal 2008 earnings from continuing operations to be in the range of $1.25 to $1.45 per share, and that discontinued operations will post modest losses during the year’s first two quarters. “We are intent on aggressively managing our operations for better performance,” Ernst stated.

 

In Tax Services, margins are expected to improve with growth in retail clients served and modestly higher pricing, combined with additional client growth in digital tax services. Within Consumer Financial Services, the company foresees H&R Block Bank building upon its initial success, while H&R Block Financial Advisors progresses further and achieves year-long profitability. Strong performance in RSM McGladrey’s core businesses and margin improvement should also contribute to higher expected earnings from continuing operations in fiscal 2008.

 

This excerpt taken from the HRB 8-K filed Jun 7, 2006.

Fiscal 2007 Outlook

 

The company announced that earnings per share for fiscal 2007 are expected to be in the range of $1.80 to $2.05. “We expect solid growth in both Tax Services and Business Services and a more stable environment for operating margins in Mortgage Services. In our newly created Consumer Financial Services segment, we expect continued significant improvement from H&R Block Financial Advisors and a meaningful contribution from the new H&R Block Bank,” Ernst said. “Ultimately, our results will depend on strong execution in Tax Services and our ability to operate effectively in the volatile mortgage market as the interest rate environment often creates unpredictable operating and competitive challenges.”

 

This excerpt taken from the HRB 8-K filed Sep 1, 2005.

Fiscal 2006 Outlook

 

For fiscal year 2006, the company affirmed its prior expectation of earnings per share in the range of $2.12 to $2.32.

 

“First quarter results are consistent with the guidance we set in June for our financial performance this year,” Ernst said. “Where we ultimately fall within our $2.12 to $2.32 range will be a function of developments within the mortgage business, the broader competitive environment we face there and the outcome of actions we currently have under way.”

 

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H&R Block First Quarter Release – page 4 of 5

 

This excerpt taken from the HRB 10-K filed Aug 5, 2005.
FISCAL YEAR 2006 OUTLOOK ... We began construction on a new world headquarters facility during fiscal year 2005. Estimated construction costs during fiscal year 2006 of $103.5 million will be financed from operating cash flows.
   Our Board of Directors approved an increase of the quarterly cash dividend from 11 cents to 12.5 cents per share, a 13.6% increase, effective with the quarterly dividend payment on October 3, 2005 to shareholders of record on September 12, 2005.
   A condensed consolidating statement of cash flows by segment for the fiscal year ended April 30, 2005 follows. Generally, interest is not charged on intercompany activities between segments. Detailed consolidated statements of cash flows are located in Item 8.
                                                       
    (in 000s)    
 
    Tax   Mortgage   Business   Investment       Consolidated    
Fiscal Year 2005   Services   Services   Services   Services   Corporate   H&R Block    
 
Cash provided by (used in):
                                                   
 
Operations
  $ 528,990     $ 98,303     $ 44,657     $ (32,408 )   $ (125,749 )   $ 513,793      
 
Investing
    (83,534 )     99,906       (37,816 )     7,618       (44,584 )     (58,410 )    
 
Financing
    3,482       (15,126 )     (23,223 )     (1,686 )     (391,362 )     (427,915 )    
 
Net intercompany
    (448,912 )     (184,156 )     13,725       19,965       599,378            
 
   Net intercompany activities are excluded from investing and financing activities within the segment cash flows. We believe that by excluding intercompany activities, the cash flows by segment more clearly depicts the cash generated and used by each segment. Had intercompany activities been included, those segments in a net lending situation would have been included in investing activities, and those in a net borrowing situation would have been included in financing activities.
  
This excerpt taken from the HRB 10-K filed Aug 1, 2005.
FISCAL YEAR 2006 OUTLOOK ... We began construction on a new world headquarters facility during fiscal year 2005. Estimated construction costs during fiscal year 2006 of $103.5 million will be financed from operating cash flows.
   Our Board of Directors approved an increase of the quarterly cash dividend from 22 cents to 25 cents per share, a 13.6% increase, effective with the quarterly dividend payment on October 3, 2005 to shareholders of record on September 12, 2005.
   A condensed consolidating statement of cash flows by segment for the fiscal year ended April 30, 2005 follows. Generally, interest is not charged on intercompany activities between segments. Detailed consolidated statements of cash flows are located in Item 8.
                                                       
    (in 000s)    
 
    Tax   Mortgage   Business   Investment       Consolidated    
Fiscal Year 2005   Services   Services   Services   Services   Corporate   H&R Block    
 
Cash provided by (used in):
                                                   
 
Operations
  $ 528,990     $ 98,303     $ 44,657     $ (32,408 )   $ (125,749 )   $ (513,793 )    
 
Investing
    (83,534 )     99,906       (37,816 )     7,618       (44,584 )     (58,410 )    
 
Financing
    3,482       (15,126 )     (23,223 )     (1,686 )     (391,362 )     (427,915 )    
 
Net intercompany
    (448,912 )     (184,156 )     13,725       19,965       599,378            
 
   Net intercompany activities are excluded from investing and financing activities within the segment cash flows. We believe that by excluding intercompany activities, the cash flows by segment more clearly depicts the cash generated and used by each segment. Had intercompany activities been included, those segments in a net lending situation would have been included in investing activities, and those in a net borrowing situation would have been included in financing activities.
  
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