H&R Block Incorporated
News and Blogs

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Coca-Cola swings the ax (at Fortune)
dailybriefing.blogs.fortune.cnn.com | 10 hours 32 minutes ago
Coca-Cola Bottling (COKE) the No.2 Coke distributor says it plans to cut 5%, or 350 workers, to help offset the rising costs of sweetener and diesel fuel. The Charlotte, N.C.-based bottler expects to take a charge between $4 million and $5 million to cover severance and other expenses.
http://dailybriefing.blogs.fortune.cnn.com/2008/07/18/coca-cola-swings-the-ax/?source=yahoo_quote
Blog: What the Mattel/Bratz Decision Means for Entrepreneurs
www.businessweek.com | 11 hours 8 minutes ago
After a seven week trial in U.S. District Court, yesterday a jury ruled in favor of giant toymaker Mattel in its federal copyright infringement case against MGA Entertainment, the company behind the wildly successful Bratz dolls. Mattel claimed that...
H&R Block reimbursing civil union, gay couples
www.iht.com | Jul 17, 2008
KANSAS CITY, Mo.: H&R Block Inc. is offering to reimburse part of the cost some gay couples and others in civil unions encountered earlier this year when the company's online tax filing system refused to submit their returns.
http://www.iht.com/articles/ap/2008/07/17/america/H-R-Block-Civil-Unions.php
H&R Block reimbursing civil union, gay couples (AP)
biz.yahoo.com | Jul 17, 2008
H&R Block reimbursing civil union, gay couples. - KANSAS CITY, Mo. (AP) -- H&R Block Inc. is offering to reimburse part of the cost some gay couples and others in civil unions encountered earlier this year when the company's online tax filing system refused to submit their returns.
http://biz.yahoo.com/ap/080717/h_r_block_civil_unions.html?.v=1
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HR Block Reports Q2 Loss, Bleeding Lending Arm - Seeking Alpha
financial.seekingalpha.com
Summary: H&R Block said Thursday that it almost doubled its second quarter loss and that its mortgage lending arm suffered massive losses. Overall 2Q loss came to $156.5 million or 49 cents/share, as compared to 2Q05's $81.3 million or 25 cents/share. Revenue shrank 7% to $563.2 million.
Feminist Law Professors » Blog Archive » Civil Unions and State Taxes
A story in the Hartford Courant last week highlights the burdens faced by same-sex couples in states that legally recognize same-sex relationships when they go to file their state tax returns.
Taxes and Twitter a great combination for H&R Block
www.insight24.com
Early adopter companies are making inroads in using social media to achieve tangible business goals. The H&R Block income tax services brand is quickly building on its brick-and-mortar foundation by effectively using social media tools, including Facebook and Twitter. Amy Worley is the director of
HRB Stock Quote - HR Block, Inc Stock Quote - HRB Quote - HRB Stock Price
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News from Zibb.com
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HR Block Inc. - Zibb.com
Jul 17, 2008 (Zacks Investment Research via COMTEX) --
H&R Block Inc. (HRB) announced strong third-quarter results on July 1 that included a big jump in earnings for the previous year. The board of directors recently approved a dividend hike and a substantial share repurchase program. The company is also aggressively paying down its debt.
H&R Block Inc. operates as a tax and investment consulting firm. Its three business segments consist of tax services, business services and financial services. The company was founded in 1946, carries a market cap. of $7.6 billion and is headquartered in Kansas City, Missouri.
Full-Year and Fourth-Quarter Results
H&R Block stepped up and delivered very impressive full-year and fourth-quarter results on June 30.
Full-year revenue rose 10% to $4.4 billion. Net income was up 21% to $454.5 million, producing earnings of $1.39 per share.
For the quarter, revenue was up 11% to $2.6 billion. Net income was $691.1 million, up 17% from the same period last year, producing earnings of $2.11 per share, outpacing analyst expectations of $2.03 per share.
The company noted that its tax services department scored a record performance, posting an 11.3% increase over the previous year.
Guidance Raised
After the encouraging results, H&R Block increased its guidance, saying it now expect full-year fiscal 2009 earnings to fall between $1.60 and $1.70 per share. Analysts are targeting the upper side of this range, projecting full-year earnings of $1.70.
Dividend Increase
The board of directors also voted to increase the company's dividend by 3 cents to 60 cents per share annually.
Debt Reduction and Share Repurchase Plan
H&R Block also noted that it now had outstanding debt of $441.2 million, down 63% and $750.5 million at the same time last year. The board also approved a share repurchase program of $2 billion to commence in 2009 and carry on through 2012.
The Chart
Shares of HRB spent most of 2007 in a steady decline, but this downward momentum now appears to have been disrupted as this stock is recoups its losses and once again is heading higher. More recently, shares have been pressuring the slight downward trend line right at $24. This is the next target, take a look at the chart below.
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Tags: business business services consulting debt dividend earnings financial services investment kansas market revenue tax
Companies: H&R Block Inc. (HRB)
HR Block Income Tax Course Educates Potential Tax Professionals - Zibb.com
KANSAS CITY, Mo., Jul 16, 2008 (BUSINESS WIRE) --
Starting in August, H&R Block (NYSE: HRB) will offer its industry-leading introductory income tax course in English and a bi-lingual version in Spanish. Upon successful completion of the class, students will be able to advise clients on a variety of tax issues ranging in complexity, such as:
-- Is it better to claim the standard deduction or to itemize?
-- Is mortgage interest deductible?
-- How do I report the sale of stock?
-- What are the tax implications of creating a home office?
-- Who qualifies as unmarried for tax purposes?
Participants receive 69 hours of instruction in the course which generally meets two or three times a week for three hours. Multiple class locations are offered, and course schedules are flexible so students can take the course without sacrificing existing work, school or family schedules.
Students will discover that the knowledge they gain may open the door to a new career that puts the skills they'll acquire during the classes to good use - like working at H&R Block.
"This course appeals to a wide range of people, from stay-at-home moms wanting to earn additional income, to military spouses, to people who simply want to ensure they're claiming all the tax benefits they're eligible for," said Diane Cooley, H&R Block vice president of knowledge development. "Whether you're interested in preparing your own taxes or in becoming an H&R Block tax professional, this class offers something for everyone."
To learn more about enrolling in the H&R Block Income Tax Course visit hrblock.com/taxcourses or call 1-800-HRBLOCK. Enrollment or completion of the H&R Block Income Tax Course is neither an offer nor guarantee of employment, and enrollment restrictions apply(1).
(1)This course is not intended for, nor open to any persons who are either currently employed by or seeking employment with any professional tax preparation company or organization other than H&R Block. State restrictions may apply. Valid at participating locations only. Void where prohibited.
About H&R Block
H&R Block Inc. (NYSE: HRB) is the world's preeminent tax services provider, having served more than 400 million clients since 1955 and generating annual revenues of $4 billion in fiscal year 2007. H&R Block provides income tax return preparation and related services and products via a nationwide network of approximately 13,000 company-owned and franchised offices and through TaxCut(R) online and software solutions. The company also provides business services through RSM McGladrey and certain consumer financial services. For more information visit our Online Press Center at www.hrblock.com.
SOURCE: H&R Block Inc.
H&R Block Media Desk, 816-854-4287 mediadesk@hrblock.com
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Companies: H&R Block Inc. (HRB)
HR Block closes sale of mortgage loan servicing unit; repays debt - Zibb.com
NEW YORK, May 01, 2008 (Thomson Financial via COMTEX) --
H&R Block Inc. Thursday said it closed the sale of its mortgage loan servicing unit to American Home Mortgage Servicing Inc., a unit of WL Ross & Co.
Proceeds of the transaction at closing were $1.3 billion, while H&R Block realised cash proceeds of about $230 million after repaying servicing advances. The company also retained $100 million in receivable relating to servicing assets.
H&R Block expects to realize $57 million of this receivable over the next 60 days but doesn't expect it to affect its reported income in a significant way.
The company also said it completed repaying its entire outstanding balance under its revolving committed line of credit. Its outstanding short-term debt was reduced to zero.
Shares of H&R Block, a tax service provider, closed Wednesday at $21.87. Ryan Vlastelica rv/vj
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Companies: H&R Block Inc. (HRB)
HR Block Declares 14.25 Cent Dividend - Zibb.com
(financialwire.net via COMTEX) --
May 7, 2008 (FinancialWire) H&R Block, Inc.'s (NYSE: HRB) (Current Market Cap: US$ 7.33 Bil.) board has
declared a quarterly cash dividend of 14.25 cents per share, payable on July 1 to shareholders of record June 10.
The payment marks the company's 183rd consecutive quarterly dividend.
Kansas City, Missouri-based H&R Block is a tax services provider that posted annual revenues of $4 billion in fiscal year 2007.
H&R Block provides income tax return preparation and related services and products via a nationwide network of around 13,000 company-owned and franchised offices and through TaxCut online and software products.
The company also provides business services through RSM McGladrey and certain consumer financial services.
FinancialWire" is a fully independent, proprietary news wire service of Investrend Information (a division of Investrend Communications, Inc.). FinancialWire" news is written by professional journalists, dedicated to pure journalistic standards. FinancialWire" does not receive or accept any compensation from any individual or subject company (or representative thereof) for its news or opinions. All FinancialWire" news is available at http://www.financialwire.net . Please address any inquiries to feedback@financialwire.net .
Free annual reports for companies mentioned in the news are available at http://investrend.ar.wilink.com/?level=279 .
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Companies: H&R Block Inc. (HRB)
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