H&R Block on Wednesday said its fiscal first-quarter loss narrowed by 39 percent, as the nation’s largest tax preparer cut its spending.
H&R Block on Wednesday said its fiscal first-quarter loss narrowed by 39 percent, as the nation’s largest tax preparer cut its spending.
Block stemmed its loss with cost cutting. Its year-ago results also included big charges related to the sale of its former business consulting unit, RSM McGladrey, and a litigation charge.
H&R Block usually reports a loss in its first quarter, when revenue drops after tax season.
News Tribune news services
H&R Block’s net loss widened in its fiscal third quarter because of a delay to the start of this year’s tax season.
Micron Technology Inc. reported on a loss for the sixth straight quarter Thursday.
Micron lost $275 million in the first quarter of its fiscal year. Total loss over the six quarters is $1.4 billion.
Declining sales volumes and prices were responsible for the loss, Micron officials said. Sales volume for NAND Flash, used in mobile devices to save data such as pictures, dropped nine percent, but was offset by a 5 percent increase in selling price. Prices for dynamic-random-access-memory, used in personal computers, were down 9 percent from the previous quarter.
Mortgage giant Fannie Mae earned a record $58.7 billion from January through March, benefiting from a one-time accounting move that allowed the company to lower its tax liability.
Tennessee Titans running back Chris Johnson left in the first quarter of Sunday's contest against the Green Bay Packers with a right ankle injury.
MILL CREEK– Kentwood’s Sarah Toeaina said she was shaking when she walked to the free-throw line after just tying No. 3 Lynnwood at 49 in her first attempt with 13.8 seconds left in regulation.
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