H&R Block Reports Tax Season Results Through April 15, 2009

H&R Block Reports Tax Season Results Through April 15, 2009

Kansas City, MO, (MARKET WIRE via COMTEX) -- H&R Block Inc. (NYSE: HRB) today released the final tax season update for fiscal year 2009. For the period ended April 15, total tax returns prepared fell by 667,000 returns, or 3.1 percent, over the prior year (excluding ESA filers). Aggregate tax preparation fees for retail operations increased 0.5 percent to $2.82 billion, an all-time high.

Total retail returns fell 5.7 percent compared to the prior-year period, while the net average fee per retail return prepared increased 6.7 percent. H&R Block Online(R) returns grew 45.5 percent, while total digital returns prepared by H&R Block (software and H&R Block Online(R), excluding Free File Alliance returns) were up 21.5 percent. Total digital returns including the Free File Alliance grew 4.4 percent. The Company plans to report its fourth quarter and fiscal 2009 results on June 23, 2009.


(in thousands, except average fee) Fiscal YTD Fiscal YTD Percent
4/15/09 4/15/08 (1), (2) change
Total returns prepared: (U.S. only)
Company-owned operations 10,195 10,489 -2.8%
Franchise operations 4,912 5,532 -11.2%
----------- ----------- ---------
Total retail operations 15,107 16,021 -5.7%
Digital software 2,363 2,317 2.0%
H&R Block Online(R) 2,752 1,892 45.5%
----------- ----------- ---------
Digital sub-total 5,115 4,209 21.5%
Digital Free File Alliance 781 1,440 -45.8%
----------- ----------- ---------
Total digital tax solutions 5,896 5,649 4.4%
----------- ----------- ---------
Total returns prepared 21,003 21,670 -3.1%
Tax preparation fees - retail:(3)
Company-owned operations $ 1,993,819 $ 1,933,197 3.1%
Franchise operations 822,863 870,848 -5.5%
----------- ----------- ---------
$ 2,816,682 $ 2,804,045 0.5%
Average fee per return - retail:(4)
Company-owned operations $ 196.06 $ 184.68 6.2%
Franchise operations 168.63 157.93 6.8%
----------- ----------- ---------
$ 187.17 $ 175.45 6.7%
(1) Prior year numbers have not been reclassified between company-owned and
franchise operations for offices which were acquired by the company
during fiscal year 2009. Through 4/15/09, approximately 463,000
returns were from the major franchise operator acquired on 11/3/08.
Prior year numbers have been restated to include tax returns only.
(2) Amounts exclude Economic Stimulus Act only filers of approximately
163,000 and 125,000 for company-owned and franchise operations,
respectively, through 4/15/2008.
(3) Amounts include tax preparation fees less coupons and discounts.
(4) Amounts are calculated as net retail tax preparation fees divided by
retail tax returns.
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About H&R Block

H&R Block Inc. (NYSE: HRB) is the world's preeminent tax services provider, having served more than 400 million clients since 1955. In fiscal 2008, H&R Block had annual revenues of $4.1 billion and provided income tax return preparation and related services to more than 23 million clients, utilizing more than 120,000 highly trained tax professionals. The company provides tax return preparation services in person, online through H&R Block Online(R), through its TaxCut(R) software and through other channels. The Company is also one of the leading providers of business services through RSM McGladrey.

SOURCE: H & R Block


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