H&R Block Inc. (HRB: Quote) reported a third quarter adjusted loss of $0.22 per share after the bell Thursday, compared the break-even results reported last year. The consensus estimate was for a loss of $0.01.
H&R Block said that U.S. filings will fully normalize and grow 1 to 2 percent by the end of the tax season. The company expects to deliver significant earnings and margin expansion in fiscal 2013, partly due to its cost pruning efforts.
H&R Block gapped open sharply higher Friday and climbed in early trade, but settled into a narrow range for the majority of the session. The stock closed up by 2.30 at $27.28 on the highest volume in over 10 months. H&R Block broke out of a 3-week range and set a new high for the year.
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by RTT Staff Writer
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