) recently reiterated its first-quarter and fiscal year 2014
guidance, announced earlier on Aug 20.
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For the first quarter of fiscal 2014, the company reaffirmed its
revenue guidance in the range of $595.0 million to $605.0
million, reflecting growth of 6% to 8% on a year-over-year basis.
Non-GAAP operating loss is expected to increase from the year-ago
period's loss of $16 million to an estimated loss of $30 million
to $35 million. The company continues to expect non-GAAP loss per
share of 10 cents to 11 cents, wider than the year-ago period's
loss of 5 cents per share.
For fiscal 2014, the company expects revenues in the range of
$4.440 billion to $4.525 billion, reflecting growth of 6% to 8%
on a year-over-year basis. Non-GAAP operating income is projected
in the range of $1.58 billion-$1.61 billion, representing 7.0% to
10.0% growth. Non-GAAP earnings per share are expected to be
between $3.52 and $3.60, up 10.0% to 13.0% year over year.
With the restructuring in place in fiscal 2014, Intuit expects
its Small Business Group revenues to increase 10.0% to 12.0%.
Revenues from the Consumer Group are expected to increase 3.0% to
5.0%. Professional Tax segment revenues are expected to increase
0.0% to 4.0%.
The company is focusing on reimaging its products with new mobile
design. Its TurboTax solutions help customers to prepare and file
online tax returns via tablet, mobile phone or desktop computers.
These new offerings are expected to increase its customer base
Additionally, Intuit is moving to additional open platforms with
application programming interfaces that help to solve problems
faster and more efficiently. Moreover, Intuit's growth strategy
of helping customers to make better decisions and improve
transactions and interactions by providing improved products will
increase its customer base.
Apart from this, Intuit recently unveiled the latest version of
QuickBooks Online. The new offering provides improved solutions
to manage payroll, inventory, sales and other needs of a small
However, competition from the leading payroll solution provider,
) in the SMB arena, a seasonal tax business and the ongoing
uncertainty in the economy are matters of concern.
Currently, Intuit has a Zacks Rank #3 (Hold). Investors can have
a look at
Computer Sciences Corp
Arrow Electronics, Inc.
) both of which carry a Zacks Rank #2 (Buy).