H&R Block Reports U.S. Tax Results Through April 18; To Announce Fiscal 2014 Results on June 11

H&R Block Reports U.S. Tax Results Through April 18; To Announce Fiscal 2014 
Results on June 11 
KANSAS CITY, MO -- (Marketwired) -- 04/28/14 --  H&R Block, Inc.
(NYSE: HRB) 


 
--  Total revenues increase over the prior year, due to pricing changes,
    improved client mix, and online monetization efforts
--  As anticipated, share of total U.S. returns to decline, primarily due
    to company's decision to discontinue its free Federal 1040EZ promotion

  
H&R Block, Inc. (NYSE: HRB), the world's largest consumer tax services
provider, today released its U.S. tax results through April 18. Total
U.S. revenues increased compared to the prior year despite a decrease
in tax returns prepared of 3.6 percent(1) to 20.7 million. As
anticipated, the decrease in returns was primarily due to the
company's discontinuation of its free Federal 1040EZ promotion.  
"We entered the season with a strong plan focused on delivering value
for our clients and growing revenue, and we executed well against
this plan," said Bill Cobb, H&R Block's president and chief executive
officer. "By continuing our focus on enhancing the client experience,
we've seen an overall improvement in our customer satisfaction
scores, which positions us well for our growth initiatives in fiscal
2015 and beyond." 
Tax returns prepared through the company's online tax software
products increased 0.7 percent through April 18. Total U.S. assisted
returns prepared fell 6.1 percent primarily due to the
discontinuation of the company's Free Federal 1040EZ promotion. Total
revenues increased as changes to pricing, improved client mix, and
online monetization efforts more than offset the impact of fewer
returns prepared. 
"We made significant enhancements to our online offering that led to
improved conversion and monetization," said Cobb. "Additionally, the
focus on our Tax Plus strategy of attaching more financial services
products yielded positive results, as a greater proportion of our
clients are benefitting from using our financial products."  
H&R Block to Announce Fiscal 2014 Results on June 11
 In conjunction
with the announcement of fiscal 2014 results, the company will host a
conference call at 4:30 p.m. Eastern time on June 11, 2014 for
analysts, institutional investors, and shareholders to discuss fiscal
2014 results, future outlook and a general business update. To access
the call, please dial the number below approximately 10 minutes prior
to the scheduled starting time: 
U.S./Canada (888) 895-5260 or International (443) 842-7595 
Conference ID: 34435396 
The call will also be webcast in a listen-only format for the media
and public. The link to the webcast can be accessed directly at
http://investors.hrblock.com. A replay of the call will be available
beginning at 6:30 p.m. Eastern time on June 11, 2014, and continuing
until July 12, 2014, by dialing (855) 859-2056 (U.S./Canada) or (404)
537-3406 (International). The conference ID is 34435396. The webcast
will be available for replay June 11, 2014 at
http://investors.hrblock.com. 
About H&R Block
 H&R Block, Inc. (NYSE: HRB) is the world's largest
consumer tax services provider. More than 625 million tax returns
have been prepared worldwide by and through H&R Block since 1955. In
fiscal 2013, H&R Block had annual revenues of $2.9 billion with 24.8
million tax returns prepared worldwide. Tax return preparation
services are provided in over 11,000 company-owned and franchise
retail tax offices worldwide by professional tax preparers, and
through H&R Block Tax Software products. H&R Block Bank provides
affordable banking products and services. For more information, visit
the H&R Block Newsroom. 
Forward-Looking Statements
 This press release may contain
forward-looking statements within the meaning of the securities laws.
Forward-looking statements can be identified by the fact that they do
not relate strictly to historical or current facts. They often
include words or variation of words such as "expects," "anticipates,"
"intends," "plans," "believes," "seeks," "estimates," "projects,"
"forecasts," "targets," "would," "will," "should," "could" or "may"
or other similar expressions. Forward-looking statements provide
management's current expectations or predictions of future
conditions, events or results. All statements that address operating
performance, events or developments that we expect or anticipate will
occur in the future are forward-looking statements. They may include
estimates of revenues, income, earnings per share, capital
expenditures, dividends, liquidity, capital structure or other
financial items, descriptions of management's plans or objectives for
future operations, products or services, or descriptions of
assumptions underlying any of the above. All forward-looking
statements speak only as of the date they are made and reflect the
company's good faith beliefs, assumptions and expectations, but they
are not guarantees of future performance or events. Furthermore, the
company disclaims any obligation to publicly update or revise any
forward-looking statement to reflect changes in underlying
assumptions, factors, or expectations, new information, data or
methods, future events or other changes, except as required by law.
By their nature, forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially
from those suggested by the forward-looking statements. Factors that
might cause such differences include, but are not limited to, a
variety of economic, competitive and regulatory factors, many of
which are beyond the company's control and which are described in our
Annual Report on Form 10-K for the fiscal year ended April 30, 2013
in the section entitled "Risk Factors," as well as additional factors
we may describe from time to time in other filings with the
Securities and Exchange Commission. You should understand that it is
not possible to predict or identify all such factors and,
consequently, you should not consider any such list to be a complete
set of all potential risks or uncertainties. 
(1) Unless otherwise noted, all comparisons refer to current fiscal
year-to-date results compared to prior fiscal year-to-date results. 


 
                                                                            
H&R BLOCK                                                                   
U.S. Tax Operating Data                                                     
(in thousands)                                                              
                                                  -------- -------- --------
                                                   4/18/14  4/18/13 Percent 
                                                    FYTD     FYTD    Change 
                                                  -------- -------- --------
Total Returns Prepared:                                                     
  H&R Block Company-Owned Operations(1)              8,318    9,035    -7.9%
  H&R Block Franchise Operations(1)                  5,245    5,404    -2.9%
                                                  -------- -------- ------- 
    Total H&R Block Assisted Returns                13,563   14,439    -6.1%
                                                  -------- -------- ------- 
                                                                            
  H&R Block Desktop (2)                              2,017    2,046    -1.4%
  H&R Block Online (2)                               4,367    4,338     0.7%
                                                  -------- -------- ------- 
    Sub-Total (2)                                    6,384    6,384     0.0%
                                                  -------- -------- ------- 
                                                                            
  H&R Block Free File Alliance (2)                     762      659    15.6%
                                                  -------- -------- ------- 
    Total H&R Block Tax Software (2)                 7,146    7,043     1.5%
                                                  -------- -------- ------- 
  Total H&R Block U.S. Returns                      20,709   21,482    -3.6%
                                                  ======== ======== ======= 
                                                                            
                                                                            
(1)  Prior year numbers have been reclassified between company-owned and    
     franchise operations for offices which were refranchised or repurchased
     by the company during either year.                                     
(2)  Previously reported tax software return counts for fiscal year 2013    
     have been restated to primarily reflect accepted e-files.              

  
For Further Information
Investor Relations: 
Colby Brown
(816) 854-4559
colby.brown@hrblock.com 
Media Relations: 
Gene King
(816) 854-4672
gene.king@hrblock.com 
 
 
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