Intuit Hunts for More Growth

SAN FRANCISCO -- Faced with the perception that its flagship accounting and tax software has tapped out the do-it-yourself market, Intuit(INTU Quote - Cramer on INTU - Stock Picks) has outlined ways it will expand its portfolio with new revenue-generating online services.

For over a year, the Mountain View, Calif.-based company has pushed the boundaries of its traditional software packages with corresponding online versions and acquisitions in allied businesses, such as electronic payments and online banking services. It recently acquired Web-site development software called Homestead, and links to the software are now embedded in QuickBooks.

Homestead is one of several new "front doors" to Intuit products, offering new cross-selling opportunities, said CEO Brad Smith at the company's annual financial meeting on Wednesday. The company now has an on-demand version of each product line.

For fiscal 2009, Intuit projects consumer tax revenue growth of 8% to 12% to a range of $1 billion to $1.04 billion.

The company also affirmed fiscal 2009 revenue guidance of $3.35 billion to $3.43 billion and EPS, excluding items, of $1.86 to $1.90.

Intuit has created far more links between individual product lines to generate cross-selling without incurring additional marketing expenses. And Intuit is making more products available in entry-level free versions.

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