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To: manny t who wrote (41745)	5/25/1999 4:42:00 PM
From: Jenna	Respond to of 120523

Intuit Reports Third Quarter Results (beats by 3)INTU was doing well for the past week, with one weak day MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--May 25, 1999--Intuit Inc. (Nasdaq:INTU - news) today announced the financial results for its third fiscal quarter ended April 30, 1999. Bill Harris, President and CEO, remarked, ''Intuit's third quarter performance was strong across the board, particularly in our Internet-based businesses.'' Intuit reported third quarter revenue of $239.7 million, an increase of 69% compared to the same quarter a year ago. Revenue associated with professional tax software sales by Lacerte, which was acquired in June 1998, was included in these results and not in the year-ago quarter. Excluding the revenue from its Lacerte subsidiary, Intuit posted a 48% increase compared to the same quarter a year ago. On a GAAP basis, the Company reported net income for the quarter of $72.6 million, or $1.12 per share on a diluted basis, which included gains from the sale of marketable securities totaling $58.6 million. The results for the same fiscal quarter last year reflected a loss of $2.2 million, or $0.05 per share and included a non-recurring marketing charge of $16.2 million. (See Table A) On a pro forma basis, the Company reported third fiscal quarter net income of $47.2 million and earnings per share on a diluted basis of $0.73. Net income associated with professional tax software sales by Lacerte, which was acquired in June 1998, was included in these results and not in the year-ago quarter. Pro forma net income for the same fiscal quarter last year was $10.2 million, or $0.20 per share. (See Table B)