Intuit Inc. Earnings Cheat Sheet: Swinging to a Loss After Two Quarters of Profit

S&P 500 (NYSE:SPY) component Intuit Inc. (NASDAQ:INTU) reported its results for the fourth quarter. Intuit Inc. provides business and financial management solutions for businesses, consumers, accounting professionals and financial institutions.

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Intuit Earnings Cheat Sheet for the Fourth Quarter

Results: Loss widened to $57 million (19 cents per diluted share) from $48 million (loss of 14 cents per share) in the same quarter a year earlier.

Revenue: Rose 10.4% to $593 million from the year earlier quarter.

Actual vs. Wall St. Expectations: INTU reported adjusted net income of 2 cents per share. By that measure, the company beat the mean analyst estimate of a loss of 10 cents per share. Analysts were expecting revenue of $583.1 million.

Quoting Management: “We had a strong fourth quarter and a great fiscal year, building on tough year-over-year comparisons of double-digit revenue growth in fiscal 2010,” said Brad Smith, Intuit’s president and chief executive officer. “Our results continue to demonstrate that our strategy is working and our execution is on track. Our core businesses, Consumer Tax and Small Business, which represent the majority of our revenue and operating income, both posted double-digit growth in fiscal year 2011.”

Key Stats:

Revenue has risen the past four quarters. Revenue increased 15% to $1.85 billion in the third quarter. The figure rose 4.9% in the second quarter from the year earlier and climbed 7.9% in the first quarter from the year-ago quarter.

The company has now beaten estimates the last two quarters. In the third quarter, it topped expectations with net income of $2.23 versus a mean estimate of net income of $2.19 per share.

INTU’s loss in the latest quarter follows profits in the previous two quarters. The company reported a profit of $688 million in the third quarter and a profit of $73 million in the second quarter.

Competitors to Watch: Microsoft Corporation (NASDAQ:MSFT), H&R Block, Inc. (NYSE:HRB), Fiserv, Inc. (NASDAQ:FISV), NetSuite Inc. (NYSE:N), salesforce.com, inc. (NYSE:CRM), Nuance Communications Inc. (NASDAQ:NUAN), Fidelity National Information Services (NYSE:FIS), Paychex, Inc. (NASDAQ:PAYX), Automatic Data Processing (NASDAQ:ADP), and Oracle Corporation (NASDAQ:ORCL).

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.

(Source: Xignite Financials)