Intuit Shares Up on Strong Guidance

SAN FRANCISCO - Investors shrugged off Intuit's(INTU Quote) one-time hit to earnings Friday and focused on its fiscal 2009 guidance.

Shares were up $1.21, or 4%, to $31.24 in recent trading as investors assumed the company has put most of its restructuring costs behind it.

A $23 million charge for severance and other costs associated with closing facilities quadrupled Intuit's typical net loss for the seasonally slow fourth quarter to $61.9 million. The charge was $1 million higher than expected, CFO Neil Williams said on the conference call.

Excluding the charge, the loss of 8 cents a share was in line with guidance and analysts' estimates. ...