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H&R Block Posts 7% Quarterly Loss

|Includes: H&R Block, Inc. (HRB)

Originally published at www.seclive.com

Filing in Focus: H&R Block 8-K, September 3, 2013

H&R Block (NYSE:HRB) announced its financial results for the first quarter of fiscal year 2014, reporting a net loss of $115.2M. Company revenue increased 32% from $96.5M this quarter last year to $127.2M this quarter. H&R Block recorded a net loss of $115.2M, or $0.42 losses per share, compared to last year's loss of $107.4M or $0.39 losses per share. Though the company experienced growth in its tax preparation services, higher operating expenses, currency exchange losses, and other fees grew 14% resulting in the loss. President and CEO Bill Cobb remarked that though they are disappointed with the results, they were prepared, and expect health insurance to cut into its earnings between $0.03 and $0.04 per share in fiscal year 2014.

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