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H R Block Inc

BUSINESS
November 26, 2003 | From Bloomberg News
H&R Block Inc., the world's biggest tax preparation company, earned a second-quarter profit for the first time in its history because of a 20% increase in mortgage lending earnings. Its shares rallied in after-hours trading. Net income was $10.4 million, or 6 cents a share, contrasted with a loss of $37.3 million, or 21 cents, a year earlier. Analysts surveyed by Thomson First Call expected a 6-cent loss. The company increased its annual earnings forecast to a range of $3.65 to $3.
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BUSINESS
August 29, 2001 | Bloomberg News
AOL Time Warner Inc. agreed to promote services from H&R Block Inc., the world's biggest tax preparer, on its Internet and television networks, including America Online and Time Warner Cable. H&R Block will offer America Online service to clients at its 10,400 offices worldwide. Terms of the agreement weren't disclosed. Separately, H&R Block said its fiscal first-quarter losses narrowed to $30.8 million, or 17 cents a share, from $51.
BUSINESS
July 6, 2007 | From Times Wire Services
H&R Block Inc.'s mortgage unit lost a $1.5-billion credit line, falling "dangerously close" to the minimum amount of borrowing capacity demanded by a hedge fund firm that has agreed to buy the money-losing home lender. The tax-preparation giant, based in Kansas City, Mo., said it was confident the loss of the credit line wouldn't stop the sale of sub-prime lender Option One Mortgage Corp. to Cerberus Capital Management, a New York-based hedge fund manager.
BUSINESS
June 30, 1999 | Bloomberg News
H&R Block Inc., the world's largest tax preparer, said it will pay $290 million for accounting firm McGladrey & Pullen's non-audit business, expanding its accounting and consulting practice fourfold as it builds a full-range financial services company. The transaction would make H&R Block the nation's sixth-largest accounting firm, with about $400 million in revenue.
BUSINESS
June 28, 2007 | From Times Wire Services
Richard Breeden, former head of the Securities and Exchange Commission and now a hedge fund manager, is seeking a seat on H&R Block Inc.'s board as management faces pressure to sell the company. Breeden Capital Management, which holds about 2% of H&R Block's shares, will nominate Breeden and two other people to fill three seats on the company's 11-member board in September, the Greenwich, Conn.-based investment firm said Wednesday.
BUSINESS
January 26, 1999 | Bloomberg News
H&R Block Inc., the largest tax-preparation company in the U.S., said it will sell its credit card unit to Providian Financial Corp., exiting the card business. San Francisco-based Providian will buy H&R Block's $181-million WebCard Visa portfolio. Terms of the transaction, which is expected to close Friday, weren't disclosed. The credit cards were used by customers of H&R Block's former CompuServe online service. The company sold CompuServe to MCI WorldCom Inc. in February.
BUSINESS
January 13, 2000 | Bloomberg News
H&R Block Inc., the world's largest tax preparation company, said it will offer online trading and some mortgage services as part of its Internet operations. The Kansas City, Mo.-based company also will expand the number of its U.S. financial services centers, which offer mortgage services, investment advice and tax preparation, for a total of 94 this year. E-Loan Inc. is working with H&R Block on providing mortgage rates for its online service.
BUSINESS
July 23, 1999 | Edmund Sanders
H&R Block Inc. says it is looking to sell its Irvine-based wholesale mortgage unit, Option One, in an effort to focus on its retail businesses. Option One, founded in 1992, specializes in mortgages to customers with bad credit, originating about $3.6 billion in loans in the last year. That makes the company--which employs 1,500 people nationwide--slightly larger than Orange-based rival Long Beach Financial Corp.
BUSINESS
May 3, 2000 | Reuters
H&R Block Inc. reported lower-than-expected tax preparation revenue and said its e-commerce operation sustained losses for the year. The Kansas City, Mo.-based firm, which in mid-June will report its results for its fiscal year ended April 30, said preliminary figures for Jan. 1 through April 17 show tax preparation fees rose 13.2% to $1.082 billion from a year ago. Fees in franchised offices increased 10.7% to $589.2 million, for a total $1.671 billion, or about 12.3% up from a year ago.
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