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Liberty Tax 2011 Results Boom

Thursday, Jul 07 2011
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Liberty TaxWith fees from sales of franchises up sharply and costs down, JTH Holding, the parent of franchisor Liberty Tax Service, reported a 47.4-percent rise in net income on a 12.7-percent increase in revenue for the year ended April 30. That contrasted with the results of rivals, a 2.5-percent decrease at H&R Block, and Chapter 11 bankruptcy at Jackson Hewitt.

Net income for fiscal 2011 was $15.8 million, compared to just over $11 million the prior year. Revenue reached $95.5 million in the most recently ended year, a rise from $84.6 million for fiscal 2010. Franchisee fee income hit $13.1 million, a 36.5-percent increase from $9.6 million.

 

With expenses falling, operating income reached $28.5 million, an increase of 74.3 percent from $16.4 million in 2010.

Liberty is still dwarfed by Block and Jackson Hewitt. For fiscal 2011, Block had net income of $406.1 million, a decline of 15.3 percent from $479.2 million the prior year. Its revenue fell to $3.77 billion for the most recently ended year, down from $3.87 billion the prior year.
Bob Scott
Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
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