HR Block 2007 Annual Report Download - page 49

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consolidated financial statements. All periods presented have been reclassified to reflect our discontinued operations. The data set forth below
should be read in conjunction with Item 7 and our consolidated financial statements in Item 8.
(in 000s, except per share amounts)
April 30, 2007 2006 2005 2004 2003
Revenues $4,021,274 $3,574,753 $3,146,369 $2,895,786 $2,528,395
Net income before discontinued operations and change in accounting principle 374,337 297,541 319,749 275,769 74,434
Net income (loss) (433,653) 490,408 623,910 694,093 477,615
Basic earnings (loss) per share:
Net income before discontinued operations and change in accounting principle $1.16 $0.91 $ 0.96 $ 0.78 $ 0.21
Net income (loss) (1.34) 1.49 1.88 1.96 1.33
Diluted earnings (loss) per share:
Net income before discontinued operations and change in accounting principle $1.15 $0.89 $ 0.95 $ 0.76 $ 0.20
Net income (loss) (1.33) 1.47 1.85 1.92 1.30
Total assets $7,499,493 $5,989,135 $5,538,056 $5,233,827 $4,666,502
Long-term debt 519,807 417,262 922,933 545,811 822,287
Dividends per share$0.53 $0.49 $ 0.43 $ 0.39 $ 0.35
ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
We are a financial services company with subsidiaries delivering tax, DISCONTINUED OPERATIONS –On April 19, 2007, we entered into an
investment, mortgage and business services and products. We are the agreement to sell OOMC. In conjunction with this plan, we also
only major company offering a full range of software, online and in- announced we would terminate the operations of HRBMC.
office tax preparation solutions, combined with personalized financial During fiscal year 2007, we committed to a plan to sell and/or
advice concerning retirement savings, home ownership and other completed the wind-down of three smaller lines of business previously
21 m
opportunities to help clients build a better financial future. reported in our Business Services segment, as well as our tax operations
Our key strategic priorities for each of our reportable segments can in the United Kingdom previously reported in Tax Services.
be summarized as follows: During fiscal year 2007, we met the criteria requiring us to present the
TaxServices –expand access to our services through improved related financial results of these businesses as discontinued operations
distribution of our digital offerings and continue to improve the and the assets and liabilities of all of the businesses being sold as held-
quality of service we provide to our clients. for-sale in the consolidated financial statements. All periods presented
Business Services –continue expansion of our national accounting, have been reclassified to reflect our discontinued operations. See Item 1
tax and consulting business, build and manage brand awareness, and Item 8, note 20 to our consolidated financial statements for
build differentiated and value-driven services and improve our additional information.
client service culture.
Consumer Financial Services –integrate the Tax Services client
base into this segment and serve the broad consumer market
through advisory and banking relationships.
H&R BLOCK 2007 Form 10K