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H&R Block Profit Rises Despite Fewer Returns
KANSAS CITY, Mo. (AP) -- H&R Block Inc. says its fiscal third quarter profit rose 7 percent, as lower costs offset a revenue drop that stemmed from handling fewer returns.

For the three months ended Jan. 31, the nation's largest tax preparer earned $50.6 million, or 15 cents per share, compared with $47.4 million, or 14 cents per share, in the year-ago quarter.

Revenue fell 6 percent to $934.9 million from $993.4 million last year.

Wall Street was expecting profit of 14 cents per share, on revenue of $949.6 million.

Through Feb. 28, H&R Block says the number of returns it prepared in its storefronts fell 6.8 percent from last year. Total returns, which include do-it-yourself software and online preparation, are down 9.4 percent.

(Copyright 2010 by The Associated Press. All Rights Reserved.)
03 09 10 by Newsroom
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