| To: AugustWest who wrote (1515) | 11/2/2000 7:11:51 PM | | From: 2MAR$ | | | | Intuit Announces Earnings Release Date = Nov 21
Business Editors
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Nov. 2, 2000--Intuit Inc.
(Nasdaq:INTU) announced today that it will release its first fiscal
quarter earnings on Tuesday, Nov. 21, 2000, following the close of
market.
Intuit will subsequently host a conference call at 1:30 p.m. (PST)
to discuss first quarter financial results.
A downloadable earnings press release and PowerPoint presentation
also will be available on Intuit's website at
www.intuit.com/corporate/investor_relations following the close of
market on Nov. 21, 2000.
To access and participate in the conference call dial 888/732-8927
in the United States or 212/676-4910 from international locations. No
reservation or access code is needed.
Those unable to participate can call 800/633-8284 or 858/812-6440
to listen to a tape recording of the call. The reservation number for
this call is 16842766. The recording and presentation will be
available for one week after the conference call.
About Intuit Inc.
Intuit Inc. (Nasdaq:INTU) is the leader in e-finance, including
financial software and Web-based financial services for consumers and
small businesses. Intuit develops and markets QuickBooks(R), the most
popular small business accounting software; Quicken(R), the leading
personal finance software; and TurboTax(R), the best-selling tax
preparation software. An innovator in delivering Web-based financial
tools, Intuit is the leading provider of online tax preparation and
filing and online mortgages. Intuit is also breaking new ground as a
leader in online bill presentment and payment, and in the delivery of
its QuickBooks Internet Gateway platform of connected e-services for
small businesses.
Intuit's Quicken.com(TM) Web site (www.quicken.com) is a leading
financial site, offering a comprehensive set of financial news,
information and tools, including insurance, mortgage, investment and
tax preparation services. Intuit's products and services enable
individuals, small businesses and financial professionals to better
manage their financial lives and businesses.
--30--lr/sf* pw/sf
CONTACT: Intuit Inc.
Lisa Rhodes, 650/944-2713 (Investors)
or
Ketchum (for Intuit)
Holly Anderson, 615/377-6902 (Media)
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: E-COMMERCE INTERNET SOFTWARE CONFERENCE CALLS
EARNINGS
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page. |
| | Intuit -- What's Its Future? | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (1) |
|
| To: Bocor who wrote (1518) | 12/26/2000 8:13:39 AM | | From: Larry S. | | | | | Turbo tax sales down 30% so far, public.wsj.com - could be reason for recent weakness. Then again, comparisons to last year, with Y2K and robust computer sales, might well be misleading. neveertheless, a negative, at least short term, for this stock. a screaming buy here in mid 30's, might well becoming even more so. larry |
| | Intuit -- What's Its Future? | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (1) |
|
| To: Tony Wilson who started this subject | 3/15/2001 5:44:34 PM | | From: kendall harmon | | | | INTU, good article here
Intuit Says Y2K Freebies Caused This Quarter's Miss
By Adrienne Sanders
Intuit (INTU:NYSE - news) said today that the lingering effects of a Y2K giveaway are the main reason the company will miss its financial estimates for the current quarter. At its annual analyst day Thursday, the financial software and services company opened the morning by cautioning it would log revenue of $425 million to $450 million instead of meeting revenue expectations of $455 million to $470 million for the third quarter ending April 30. In turn, the company lowered its sales estimates for the full year to $1.26 billion to $1.30 billion from $1.32 billion to $1.34 billion.
"The economic slowdown was not the real reason for the warning," said Intuit CFO Greg Santora. Santora explains that in 2000, Intuit gave out 350,000 free copies of its QuickBooks software so customers would be Y2K compliant. As a nasty side effect, those happy recipients aren't upgrading in 2001 at the 20% to 30% rate expected, which pinches the small-business segment that comprises 35% to 40% of Intuit's business. Intuit gave away free Quicken Y2K upgrades last year as well, but Quicken users are still upgrading because of Quicken's relatively cheap price tag -- under $50 vs. QuickBook's several hundred dollar price.
Additionally, Intuit is feeling the pain in the weakened market for Internet advertising. Its Quicken.com portal and QuickBooks Internet Gateway are adding to the company's revenue shortfall. Throw into the mix a slowdown in Japan, and revenue is coming in light.
On the good-news side, Intuit assured the analyst community that lagging third-quarter revenue wouldn't get in the way of business growth. The company promised the Street it would turn in 20% growth in operating income over the next three years -- it's counting on even higher growth rates in 2002 -- and is sticking by operating income estimates of $205 million to $213 million for 2001. (Those numbers exclude things such as acquisition-related charges and investment losses.) The company is a staple provider of personal and small-business financial software, and typically logs the bulk of its yearly revenue in the second and third quarters around tax time. Some analysts felt there was no reason to overreact, as investors did in dinging the stock by 28% Thursday morning, because the revenue dip was minimal.
"Compared to most companies in techland, like Oracle (ORCL:Nasdaq - news), Intuit is pretty solid. They had only a 3% revenue reduction and left their profit alone," said David Farina, an analyst from William Blair, who maintains a strong buy on Intuit despite the warning. (His firm co-managed an Intuit secondary offering three years ago.) "Things have to get really bad in this country before people go back to pen and paper to do their taxes."
Intuit revealed the downturn just more than three weeks after reporting its second-quarter results on Feb. 20, when it notched $457.6 million in revenue. Its lower revenue projections for the third quarter represent a 38% increase from the year-ago quarter's $329.1 million.
thestreet.com |
| | Intuit -- What's Its Future? | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| To: Larry S. who wrote (1524) | 3/15/2001 9:25:10 PM | | From: Captain Jack | | | | | Whoops-- Larry I know this thread is quiet but did not think it was a month + quiet. Agreed,, nothing has changed! They had much better things to say than ORCL, CPQ, and others and were punished while others went up on much worse news. Sad,,, the vol today indicated blind sales which caused the price drop. Quite understandable-- NOT! A fast recovery or there will be more selling IMO. |
| | Intuit -- What's Its Future? | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last ReadRead Replies (1) |
|
| |
