While Intuit Inc. (INTU) posted a first-quarter loss of 1.23%, it showed improvement in the area of small-business services. This was helped by the acquisition of Demandforce along with an earlier sale of assets.
There has been a downbeat modified profit ranging from 40 to 43 cents predicted for the company during the current quarter. The predicted revenue is $1.02 to $1.04 billion. However, analyst predict 59 cents and $1.1 billion, receptively. Intuit supported its guidance for a full year.
The services offered by the maker of TurboTax and Quickbooks, which are do-it-yourself tax and small business accounting software, is ridding itself of some of the lower-margin services in order to concentrate on its high-margin services that are offered online such as focusing customer service.
While expanding globally, Intuit is creating tools for online use by its QuickBooks customers that will allow them to use social media to create business relationships and grow their business with repeat customers. Recently, for the price of $423.5 million, Intuit secured Demandforce. This allowed them to create a marketing strategy as well as communications between the small business and the customers through email, social networking and the use of mobile services.
Intuit reports at the end of the October 31st quarter that they show a $19 million loss, which equals a loss of six cents a share. This loss is up from a year prior when the loss was 21 cents a share, or $64 million. The most recent period includes an increase of turbo tax earnings of 11 cents a share increase due to operations that have been discontinued.
This stems from the websites business sale that occurred in September. This increase is up from a two cents a share loss last year. Continuing operations created a three cents a share loss, which excludes any compensation from stock or other items. This was down from the one year ago loss of eight cents a share.
Revenue increased by 13%, now $647 million.
In August, Intuit forecasted a revenue loss of six to seven cents a share, equaling $630 to $640 million.
Revenue increased by 21% in the area of payments and 18% in the area of small-business. Subscriptions increased over 60% at Demandforce while there was a 29% growth in subscriptions at Quickbooks Online. This was included in the 20% growth seen by the financial solutions sector.
Shares were down 17 cents at closing on Thursday, yet they show a 12% increase for the year.
Choosing The Right Debt Recovery Agency.
Business can be a delicate matter and when money is involved it requires skill and tact to handle matters correctly. When it comes to debt recovery, you can choose to try and recover the money yourself or you could enlist the services of a debt recovery company.
A debt recovery company takes all the hassle and stress out of chasing your money and saves you time, they can also handle things in a professional and tactful way so as to maintain good business relationships. It is a good idea when you choose a debt recovery company that they are a member of the CSA. This is a regulatory body for debt collection and makes sure that their members adhere to strict codes of practice which are of a high standard and ethical.
Your business reputation could be at stake and therefore it makes sense to do your home work before committing to a service. Is their service no win no fee or do they expect a fee upfront? Is it commission based and what happens if the matter goes to court. It is also a good indication of good practice to see if your chosen company can provide you with business references to gauge their performance.
Trust A Debt Collection Agency To Help Recover Unpaid Debts
Debt collection agencies can help you to get back the money you are rightfully owed. These professional organisations offer a valuable service to businesses of all sizes. Getting paid for the work you have completed can be difficult in a tough economic climate and often chasing the money yourself seems to fall on deaf ears. Many hours are wasted every day in the UK as business owners make repeated phone calls, write unlimited letters and more in the hope of getting paid on time.
Employing the services of a debt collection agency can help free up this wasted time and leave you free to get on with the day to day running of your business. It is also a much more professional approach to recovering money due. Often, just a letter explaining that a debt collection agency has taken on the debt collection process is enough to make your debtor pay up.
Debt collection agencies work on a no win, no fee basis and will only take a percentage commission on successful recovery of your money. This is usually about 10% and if they fail to recover your money then you will owe them nothing. If you think a debt collection agency would be of benefit to you and your company then there are numerous agencies available online.