Record Tax Year Bumps H&R Block 4Q Profits

KANSAS CITY, Mo. - Tax preparer H&R Block Inc. says it swung to a fourth-quarter profit, helped by a record-setting tax season and the sale of its troubled mortgage arm.

The Kansas City-based company said Monday it earned $543.6 million, or $1.66 per share, versus a loss of $85.6 million, or 26 cents per share, during the same period a year ago.

Excluding discontinued operations, including its Option One Mortgage Corp. subsidiary, the company says it earned $2.11 per share.

H&R Block says revenue rose 11 percent to $2.6 billion, helped by a 2.2 percent increase in customers using the company's offices to file their income tax returns.

Thomson Financial says analysts expected adjusted earnings of $2.03 per share on $2.5 billion in revenue.


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