H&R Block Delays Reporting To RestateFinancials
KANSAS CITY, Mo. - (07/12/05) -- Accounting experts H&R BlockInc. said it will miss a deadline for filing its quarterly andannual while it continues cleaning up some accounting errors. Thecompany disclosed last month that it was restating parts of itsearly 2005 earnings and its results for 2003 and 2004 to correctseveral small reporting and accounting errors it had found inyear-end reviews of its results. The restatements are expected toincrease Block's reported profits by six cents a share for 2003 andby 14 cents for 2005, but decrease them by eight cents for 2004,the company said. Block has evolved from a tax preparation firm toa diversified financial services firm featuring a mortgage bank andconsulting arm, with a large credit union business.