Jackson Hewitt Reports Fiscal 2011 Q1 Results (JTX)

Jackson Hewitt Tax Service Inc. JTX today reported financial results for the first quarter of fiscal 2011. Jackson Hewitt reported a net loss of $19.2 million, or $0.67 per basic and diluted share, versus a net loss of $21.8 million in the first quarter of fiscal 2010, or $0.76 per basic and diluted share. On an adjusted basis, Jackson Hewitt's net loss in the 2011 first quarter was $18.7 million, or $0.65 per basic and diluted share, versus an adjusted net loss of $19.2 million, or $0.67 per basic and diluted share, in the year ago quarter. A schedule entitled Condensed Adjusted Results of Operations, which reconciles the reported and adjusted results, accompanies this earnings release. Reported consolidated total revenues in the 2011 first quarter were $4.4 million, versus $5.0 million in the 2010 first quarter.