H&R Block

H&R Block

H&R Block Inc. says it will record a 5-cent-per-share charge in its fiscal fourth quarter due to losses on its Emerald Advance line of credit.
The nation's largest tax preparer blamed the charge on losing some prior clients because it is unable this year to offer short-term loans backed by tax refunds, or refund anticipation loans.
Wall Street was expecting profit of $2.14 per share for the quarter.
The charge tempered a positive report that shows the company prepared 5.7 percent more tax returns through the end of March than last year. That increase was down a bit from 6 percent through February.
Sources: http://www.businessweek.com

H&R Block