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Intuit Inc. (INTU - Snapshot Report) recently reiterated its first-quarter and fiscal year 2014 guidance, announced earlier on Aug 20.

For the first quarter of fiscal 2014, the company reaffirmed its revenue guidance in the range of $595.0 million to $605.0 million, reflecting growth of 6% to 8% on a year-over-year basis. Non-GAAP operating loss is expected to increase from the year-ago period’s loss of $16 million to an estimated loss of $30 million to $35 million. The company continues to expect non-GAAP loss per share of 10 cents to 11 cents, wider than the year-ago period’s loss of 5 cents per share.

For fiscal 2014, the company expects revenues in the range of $4.440 billion to $4.525 billion, reflecting growth of 6% to 8% on a year-over-year basis. Non-GAAP operating income is projected in the range of $1.58 billion–$1.61 billion, representing 7.0% to 10.0% growth. Non-GAAP earnings per share are expected to be between $3.52 and $3.60, up 10.0% to 13.0% year over year.

With the restructuring in place in fiscal 2014, Intuit expects its Small Business Group revenues to increase 10.0% to 12.0%. Revenues from the Consumer Group are expected to increase 3.0% to 5.0%. Professional Tax segment revenues are expected to increase 0.0% to 4.0%.

The company is focusing on reimaging its products with new mobile design. Its TurboTax solutions help customers to prepare and file online tax returns via tablet, mobile phone or desktop computers. These new offerings are expected to increase its customer base going forward.

Additionally, Intuit is moving to additional open platforms with application programming interfaces that help to solve problems faster and more efficiently. Moreover, Intuit’s growth strategy of helping customers to make better decisions and improve transactions and interactions by providing improved products will increase its customer base.

Apart from this, Intuit recently unveiled the latest version of QuickBooks Online. The new offering provides improved solutions to manage payroll, inventory, sales and other needs of a small business.

However, competition from the leading payroll solution provider, Paychex Inc. (PAYX - Snapshot Report) in the SMB arena, a seasonal tax business and the ongoing uncertainty in the economy are matters of concern.

Currently, Intuit has a Zacks Rank #3 (Hold). Investors can have a look at Computer Sciences Corp (CSC - Analyst Report) and Arrow Electronics, Inc. (ARW - Analyst Report) both of which carry a Zacks Rank #2 (Buy).

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