Tax preparer Jackson Hewitt Tax Service Inc. said Thursday fiscal its first-quarter loss widened due to the seasonal nature of the business.
The loss for the quarter ended July 31 increased to $19.6 million, or 65 cents per share, from $12.7 million, or 36 cents per share, during the same quarter a year ago.
The first-quarter loss includes pretax charges totaling 7 cents per share related to an internal review conducted in relation to an investigation by the Department of Justice into a franchisee, the company’s compliance processes and an Internal Revenue Service examination.
Analysts, on average, had forecast a loss of 46 cents per share for the quarter. Analysts do not always include one-time charges in their earnings forecasts.
FranchiseBrief.com on September 7th, 2007 at 8:22 pm
I wonder how they are going to avoid the confrontation with potential franchise buyers. As a potential franchisee, that is the very first “number” you look at…