Tax preparer Jackson Hewitt Tax Service Inc. on Friday said its fiscal second-quarter loss was nearly flat as it readies for the important fiscal third quarter when most Americans will prepare their taxes. Loss for the three months ended Oct. 31 totaled $19.4 million, or 67 cents per share, from $19.5 million, or 68 cents per share, last year. Excluding one-time items, income was 66 cents per share.Analysts polled by Thomson Reuters, on average, expected a larger loss of 74 cents per share. Analyst estimates typically exclude one-time items. Revenue fell 14 percent to $3.48 billion from $4.03 billion last year.
Franchise revenue fell 9 percent to $3.2 million due to lower financial product fees. Jackson Hewitt said about 4 percent of its revenue comes from each of the first two quarters of the year due to the seasonal nature of tax preparation services. In morning trading, shares of the company rose 27 cents, or 25 percent, to $1.37.
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