H&R Block Serves Record Total U.S. Clients Through April 18

KANSAS CITY, MO--(Marketwire - Apr 25, 2012) - H&R Block, Inc. (NYSE: HRB)

  • 22.2 million total U.S. tax returns prepared, up 962,000 or 4.5 percent
  • Total online1 returns prepared grow more than 20 percent; total digital returns increase 12.3 percent
  • Total U.S. retail returns prepared up 1.0 percent; aggregate net U.S. retail tax preparation fees up 1.1 percent
  • Total H&R Block Emerald Prepaid MasterCard® units grow 24 percent to 2.9 million

H&R Block, Inc. (NYSE: HRB) today reported that total U.S. tax returns prepared fiscal year-to-date through April 18 reached a record 22.2 million, up 4.5 percent compared to the prior year period. The company reported client growth for the second consecutive year in both its U.S. retail and digital channels.

"I am pleased that we served nearly 1 million additional clients throughout our U.S. retail and digital tax channels this year," said Bill Cobb, H&R Block's president and chief executive officer. "Our preliminary analysis suggests we gained approximately 50 basis points of total U.S. share, including 60 basis points of share in the digital online category and 20 basis points in the assisted category."

Total digital tax returns prepared increased 12.3 percent fiscal-year-to-date through April 18, led by online1 unit growth of more than 20 percent. Total U.S. retail returns prepared grew 1.0 percent, while aggregate net U.S. retail tax preparation fees grew 1.1 percent for the comparable period. Last September, the company discontinued its EXPRESSTAX franchise offices, which collectively prepared nearly 100,000 tax returns. Excluding EXPRESSTAX returns prepared through April 18, 2011, as well as EXPRESSTAX returns retained by H&R Block through April 18, 2012, total U.S. retail returns prepared grew 1.6 percent.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will," "would," "should," "could" or "may." Forward-looking statements provide management's current expectations or predictions of future conditions, events or results. They may include estimates of revenues, income, earnings per share, capital expenditures, dividends, liquidity, capital structure or other financial items, descriptions of management's plans or objectives for future operations, products or services, or descriptions of assumptions underlying any of the above. All forward-looking statements speak only as of the date they are made and reflect the company's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes, except as required by federal securities laws. By their nature, forward-looking statements are subject to risks and uncertainties. For a discussion of these and other factors that could cause the company's future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in the company's 2011 Annual Report on Form 10-K and in other filings by the company with the Securities and Exchange Commission.

About H&R Block

H&R Block, Inc. (NYSE: HRB) has prepared more than 575 million tax returns worldwide since 1955, making it the country's largest tax services provider. In fiscal 2011, H&R Block had annual revenues of nearly $3 billion and prepared more than 24.5 million tax returns worldwide, including Canada and Australia. Tax return preparation services are provided in company-owned and franchise retail tax offices by approximately 100,000 professional tax preparers, and through H&R Block At Home™ digital products. H&R Block Bank provides affordable banking products and services. For more information, visit the H&R Block Online Press Center.

1 Total online returns prepared exclude software-based and Free File Alliance ("FFA") returns.

   
H&R BLOCK  
Preliminary U.S. Tax Operating Data  
(in thousands)  
               
    Fiscal Year to Date as of 4/18/12   Fiscal Year to Date as of 4/18/11   Percent change  
Total returns prepared: (1)              
  Company-owned operations   9,201   9,057   1.6 %
  Franchise operations   5,661   5,651   0.2 %
    Total retail operations   14,862   14,708   1.0 %
                 
  Software   2,115   2,148   -1.5 %
  Online   4,400   3,655   20.4 %
    Sub-total   6,515   5,803   12.3 %
                 
  Free File Alliance   856   760   12.6 %
    Total digital tax solutions   7,371   6,563   12.3 %
    22,233   21,271   4.5 %
               
(1)   Prior year numbers have been reclassified between company-owned and franchise operations for offices which were refranchised during either year
     
     
     

Contacts:

Investor Relations
Derek Drysdale
(816) 854-4513

Media Relations
Gene King
(816) 854-4672

###

Share this Story:

Comments:

comments powered by Disqus

Franchise News Room »


News By Industry »


Featured Opportunities

UBreakiFix
uBreakiFix is a consumer electronics repair company based out of Orlando, FL that specializes in refurbishing and restoring smartphones, tablets,...
Tony Roma's
After two decades of fast-paced international expansion, we are introducing a new generation of domestic customers to the Tony Roma’s experience....
Capriotti's Sandwich Shop
Capriotti's has mastered the art of sandwich making since 1976, achieving over 250 awards & counting. Our fans & franchise community agree,...
Elements Massage
When simplicity is the essence of your business model, clients and owners benefit. Clients want a predictably wonderful experience with every visit....
Midas
Midas, a recognized brand throughout the world and highly renowned name in complete car care, is proud to be one of North America's original...

Subscribe to Franchising.com Express

A Franchise Update Media Production
Franchise Update Media | P.O. Box 20547 // San Jose, CA 95160 // PH. (408) 402-5681
Copyright © 2001 - 2017. All Rights Reserved.

In Loving Memory Of Timothy Gardner (1987-2014)