H&R Block's Net Loss From Continuing Operations Improves 11 Percent; Improves 6 Percent on Adjusted Basis

KANSAS CITY, MO--(Marketwire - Sep 5, 2012) - H&R Block, Inc. (NYSE: HRB) today announced financial results for its fiscal first quarter ended July 31, 2012. The company typically reports a first quarter operating loss due to the seasonality of its core U.S. tax business.

First Quarter 2013 Highlights(1)
•Net loss from continuing operations improves 11 percent to $106 million, or
.38 per share(2)
•Adjusted net loss from continuing operations improves 6 percent to $105 million, or
.38 per share
•Company on pace to deliver $85 to $100 million of pretax earnings from cost reduction initiatives in fiscal 2013
•Repurchased and retired 21.3 million shares at an aggregate price of $315 million, or $14.82 per share
•Completed H&R Block's first tax season in Brazil and India

First Quarter Results From Continuing Operations