Intuit Inc. (INTU) Reports TurboTax Unit Sales Through April 18, 2007; CEO Issues Apology
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Intuit Inc. (Nasdaq: INTU) announced the final season-to-date unit sales update for its fiscal year 2007 consumer tax products and services. Through April 18, 2007, total TurboTax federal unit sales increased 5 percent over the same period last year.
TurboTax federal desktop units sold (prior year) 7,103,000 (season through April 18, 2007) 6,942,000 (% change YoY -2%)
TurboTax for the Web federal returns (non-FFA) (prior year) 5,228,000 (season through April 18, 2007) 6,042,000 (% change YoY 16%)
"We very much regret the poor experience some of our customers had earlier this week," said Brad Henske, senior vice president and general manager of consumer tax. "That said, online unit sales in the second half of the season were very strong and we are pleased with the customer response to our 2007 product lineup and pricing strategy. We expect segment revenue to increase 12 percent to 13 percent for the year. In addition, early indications are that our total market share remained within one point of last year and that we maintained our share on the Web."
Intuit reiterated its financial guidance for the third and fourth quarters as well as fiscal year 2007 for the company and other segments previously provided in its Feb. 22, 2007 earnings release.
TurboTax federal desktop units sold (prior year) 7,103,000 (season through April 18, 2007) 6,942,000 (% change YoY -2%)
TurboTax for the Web federal returns (non-FFA) (prior year) 5,228,000 (season through April 18, 2007) 6,042,000 (% change YoY 16%)
"We very much regret the poor experience some of our customers had earlier this week," said Brad Henske, senior vice president and general manager of consumer tax. "That said, online unit sales in the second half of the season were very strong and we are pleased with the customer response to our 2007 product lineup and pricing strategy. We expect segment revenue to increase 12 percent to 13 percent for the year. In addition, early indications are that our total market share remained within one point of last year and that we maintained our share on the Web."
Intuit reiterated its financial guidance for the third and fourth quarters as well as fiscal year 2007 for the company and other segments previously provided in its Feb. 22, 2007 earnings release.
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