The company's tax business had 5.3 million returns efiled through April 16, up from 4.9 million a year earlier. And Blucora CEO William Ruckelshaus said the results resulted from "the strength of our product and competitive price positions." Ruckelshaus made his comments during this week's webcast of the results for the first quarter ended March 31.

Blucora purchased TaxAct in January 2012 after the Justice Department nixed Block's attempted acquisition of the unit. And with a full tax season behind it for the first time, Blucora benefited from the profitability of the tax business, which is much higher than for its search business which produces most of the revenue.

Net income reached $23.1 million, more than double the $11.4 million in last year's corresponding period. Operating profits from the tax segment were $30.8 million, a rise from $22.1 million. A sharp rise in tax segment revenue reflected the fact that Blucora did not own TaxAct for the full 2012 tax season. Tax revenue for the first quarter this year was $64.7 million, compared to $40.4 million in last year's corresponding period.

Total Blucora revenue for the most recently ended quarterly was $165.3 million, a rise of 21.1 percent from $136.3 million a year earlier.

Ruckelshaus stated the company's intention to pursue acquisitions to growth both the search and tax segments and unrelated businesses if it can find some that are attractive. To help fuel the effort, the company had a convertible note issue which brought $201 million in proceeds into Blucora's coffers.

Bob Scott

• Email

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