Although tax-software-related revenue was up 20% this year,
fiscal third-quarter revenue will fall toward the low end of already reduced guidance, the company reported Monday.
Pro-forma earnings, however, will be at the higher end of guidance.
Citing a weak economy and a tax-season that got off to a slow start, the company in late March told investors to expect fiscal third-quarter 2003 revenue in the range of $630 million to $660 million. Pro forma earnings will range from $1 to $1.03 a share, the company said.
Rumors of the news hit the stock hard Monday morning, with shares off $2.45, or 6.6%, to $34.79. Intuit was gaining back some of the loss after hours, and in recent post-close trading was selling at $36.45 a share.
The company will report third-quarter financial results on May 14.