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News Summary: H&R's 4Q misses expectations

The Associated Press

TAX TIME: H&R Block Inc. said last-minute changes to the tax law, a delayed start to the filing season and new fraud controls were hurdles for this year's tax season.

PENALTY PAID: While the tax preparation company was able to cut costs to help offset weaker revenue, it reported fiscal fourth-quarter results that fell short of market expectations.

CRUNCH THE NUMBERS: H&R searned $664.3 million, or $2.42 per share, for the quarter that ended April 30. That's up from $586.1 million, or $1.99 per share, last year. Revenue increased to $2.2 billion from $2 billion.