Financial Loss for H&R Block

9 years 5 months 1 week ago June 22, 2007 Jun 22, 2007 Friday, June 22 2007 Friday, June 22, 2007 4:42:11 AM CDT in News
Source: (Copyright 2007 The Associated Press All Rights Reserved.)
KANSAS CITY (AP) - H&R Block is reporting a fourth-quarter loss of $85 million. The Kansas City-based tax preparer says continuing struggles of its mortgage lending arm offset higher revenue in its tax and financial services divisions. For the year, the company says it lost $433 million. For the three months ending April 30, Block lost 26 cents a share compared with earnings of one dollar, 79 cents a share during the same period a year ago. That includes $676 million in losses mostly tied to its Option One Mortgage subsidiary. Revenues during the quarter grew nearly eight percent to more than $2.3 billion.

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