* First-quarter adj loss $0.40/share vs est $0.37
* Revenue rises 32 percent to $127.2 mln
* Shares down 5 pct in after-market trading
Sept 3 U.S. tax preparer H&R Block Inc
reported a bigger-than-expected quarterly loss as higher costs
outweighed a sharp rise in revenue, sending its shares down
nearly 5 percent in extended trading.
The company also said it was not likely to close the sale of
its banking unit to Republic Bancorp Inc before the
end of this month as it was yet to get the necessary regulatory
approvals for the transaction.
H&R Block sold its banking assets in July to avoid a sharp
rise in costs associated with the introduction of stricter
banking rules by the U.S. Federal Reserve.
The company had sought regulators' permission to buy back
shares but had not received the approval to do so, Chief
Executive Bill Cobb said on a conference call on Tuesday.
The company's net loss from continuing operations widened to
$113.2 million, or 42 cents per share, in the first quarter from
$107.4 million, or 39 cents per share, a year earlier.
Excluding items, the company reported a loss of 40 cents per
share, missing analysts' estimates by 3 cents.
The company typically reports an operating loss in the
May-July quarter, which follows the peak U.S. tax filing season.
Revenue, however, rose 32 percent to $127.2 million, driven
by its international business. Analysts were expecting $98.4
million, according to Thomson Reuters I/B/E/S.
Shares of the Kansas City, Missouri-based company, which has
a market value of more than $7 billion, closed at $27.88 on
Tuesday on the New York Stock Exchange.