Intuit Reports Mid-season TurboTax Unit Data; Reiterates Full-year Revenue Guidance

Intuit Reports Mid-season TurboTax Unit Data; Reiterates Full-year Revenue Guidance

MOUNTAIN VIEW, Calif. – Mar. 22, 2012 – Intuit Inc. (Nasdaq: INTU) today released the second of three season-to-date updates for its fiscal year 2012 consumer tax offerings. Through March 17, total TurboTax federal units were up 8 percent compared to the same period last year. Also through March 17, TurboTax Online units were up 14 percent, while desktop units decreased 3 percent compared to the same period last year.
 

"In consumer tax, we continue to be pleased with our online share gain, estimated at approximately 1 point of share," said Dan Maurer, senior vice president and general manager of Intuit’s consumer group. “Additionally, our free tax advice service is being well received by customers, and we continue to see a shift to online.”

Intuit today also reiterated full-year Consumer Tax revenue growth guidance of 10 to 13 percent and company revenue growth guidance of 9 to 11 percent.

Season-to-date TurboTax Federal Unit Data

	Comparable Prior-Year Period	Season Through March 17, 2012	Percent Change  Year-Over-Year
TurboTax Desktop	5,272,000	5,104,000	-3%
TurboTax Web	10,915,000	12,437,000	14%
Sub-total TurboTax Units	16,187,000	17,541,000	8%
TurboTax Free File Alliance	893,000	831,000	-7%
Total TurboTax Units	17,080,000	18,372,000	8%

Note: Unit data through March 17, 2012.
 

Intuit will issue a third tax season update in April at the end of the tax season. 

About Intuit Inc.

Intuit Inc. is a leading provider of business and financial management solutions for small and medium-sized businesses; consumers, accounting professionals and financial institutions. Its flagship products and services, including QuickBooks®, TurboTax® and Quicken®, simplify small business management including payment and payroll processing, tax preparation and filing, and personal finance. Lacerte® and ProSeries® are Intuit's leading tax preparation offerings for professional accountants. Intuit Financial Services helps banks and credit unions grow by providing on-demand solutions and services that make it easier for consumers and businesses to manage their money.

Founded in 1983, Intuit had annual revenue of $3.9 billion in its fiscal year 2011. The company has approximately 8,000 employees with major offices in the United States, Canada, the United Kingdom, India and other locations. More information can be found at www.intuit.com.