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Intuit ProTax Revs Up; Units Drop

Intuit logoRevenue from Intuit's Accounting Professional segment - its professional tax software business -  produced $225 million in the nine months ended April 30, an increase of 6 percent from last year's corresponding period. But the number of units sold fell, and while that was only a decline of 1,000, it continued the trend of the last few years.

Intuit reported it sold 105,000 units in the most recently ended period, all in its second and third quarters, down from 106,000 units for the 2010 tax season and lower than the 108,000 software packages in the same period for 2009.

For the most quarter, Intuit reported net income from continuing operations of $688 million, an increase of 19 percent from $576 million a year earlier. Third-quarter revenue was $1.848 billion, 15 percent higher than last year's $1.61 billion.

CFO Neil Williams said the company planned to expand online products for both the professional tax and accounting arena, but gave no details.

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