H&R Block Inc.'s chairman and chief executive, Mark Ernst, affirmed that the company expects to obtain a banking charter this year.
"We think that all indications are we will have something by the end of this calendar year," Mr. Ernst said Thursday. "We continue to work the process.
"We think there is upwards to $30 million or more of profitability that is currently not able to be realized by us from the assets that already are in the house," he said.
After the market closed Thursday, the Kansas City company, reported a net loss of $28.3 million, or 9 cents a share, for its fiscal first quarter, which ended July 31. That compares with a loss of $36.7 million, or 11 cents a share, in the same quarter last year.
H&R Block also affirmed its earnings forecast for the fiscal year: $2.12 to $2.32 a share.
