Intuit (NASDAQ:INTU) shares are losing ground in the late session after the company posted solid results for its fiscal fourth quarter ended July 31, but slightly lighter than expected guidance for the July 2010 fiscal year.
For Q4, the company reported revenue of $476 million, flat with a year ago and ahead of the Street at $469.9 million. Intuit suffered a non-GAAP loss in the quarter of 10 cents a share, two cents better than the Street consensus estimate of a loss of 12 cents.
For FY Q1, Intuit sees revenue of $479 million to $493 million, with a non-GAAP loss of 15-19 cents a share. The Street has been expecting $488.5 million and a loss of 8 cents.
For the July 2010 fiscal year, Intuit sees revenue of $3.3 billion to $3.43 billion, with non-GAAP EPS of $1.89 to $1.96. The Street had been projecting $3.35 billion and $2 a share.
Intuit is predicting revenue growth of 4%-8% for the small business group; 5%-9% for the consumer tax segment; 3%-7% for the accounting professionals group; 6-10% from financial institutions and 6%-10% for other businesses.
In late trading Thursday, INTU was down $1.00, or 3.2%, to $29.85.