For the fiscal year, GAAP (Generally Accepted Accounting Principles) operating income grew 5 percent to $682 million, while non-GAAP operating income grew 9 percent to $931 million.

Intuit also provided full-year guidance for the 2010 fiscal year, projecting GAAP operating income growth of 15 to 21 percent, non-GAAP operating income growth of 6 to 10 percent, GAAP earnings per share growth of 10 to 16 percent and non-GAAP earnings per share growth of 4 to 8 percent.

"We delivered solid revenue and operating income growth in 2009 by staying focused on helping our customers save and make money in this tough economy, while maintaining our own operating discipline," said Brad Smith, Intuit's president and chief executive officer. "Connected services that solve important customer problems, led by our SaaS (Software as a Service) offerings, grew 14 percent this past year. These predictable revenue streams continue to be the fastest-growing portion of our business, and a key element of our future."

"As a result, we are entering our new fiscal year with larger customer bases and stronger positions in all of our core businesses. This gives us confidence that we'll have another good year in fiscal 2010," Smith said.

Fiscal 2009 Financial Highlights

• Revenue of $3.183 billion, up 4 percent from fiscal 2008.
  
• GAAP operating income from continuing operations of $682 million, up 5 percent from fiscal 2008. GAAP diluted earnings per share of $1.35, down 4 percent from fiscal 2008. The decrease is driven by a 10-cent per share gain for the sale of certain payroll assets to ADP and an 8-cent per share gain from discontinued operations from the sale of IDMS. Both events were included in fiscal 2008 results and did not recur in fiscal 2009.
  
• Non-GAAP operating income of $931 million, up 9 percent from fiscal 2008. Non-GAAP diluted earnings per share of $1.82, up 14 percent from fiscal 2008.
• In fiscal 2009 Intuit had a non-GAAP effective tax rate of approximately 33 percent due to tax benefits from a favorable settlement of prior year issues and retroactive reinstatement of the R&D tax credit. These benefits added 8 cents to the company's 2009 EPS. Without these benefits non-GAAP EPS would have grown 9 percent, in line with non-GAAP operating income.

Fiscal 2009 Business Segment Results

Intuit has changed its business reporting structure and segment names to better reflect the relationships between the segments and provide additional insight into business unit performance.

The Small Business Group now includes three reporting segments: Financial Management Solutions, Employee Management Solutions and Payments Solutions. Financial Management Solutions was formerly known as the QuickBooks segment. Employee Management Solutions and Payments Solutions were formerly combined in the Payroll and Payments segment. The company will provide guidance at the Small Business Group level.

• Financial Management Solutions revenue was $579 million, down 2 percent from the prior year.
  
• Employee Management Solutions revenue was $365 million, up 8 percent from the prior year.
  
• Payments Solutions revenue was $291 million, up 15 percent from the prior year.
  
• Consumer Tax revenue was $996 million, up 7 percent from the prior year.
  
• Accounting Professionals revenue was $352 million, up 8 percent from the prior year.
•  Financial Institutions revenue was $311 million, up 4 percent from the prior year.
  
• Other Businesses revenue was $289 million, down 14 percent from the prior year.

Fourth-Quarter 2009 Highlights

• Revenue of $476 million, flat from the year-ago quarter.
  
• GAAP operating loss from continuing operations of $116 million, compared to a loss of $94 million in the year-ago quarter. GAAP diluted loss per share was $0.22, compared to a loss of $0.19 in the year ago quarter.
  
• Non-GAAP operating loss of $49 million, compared to a loss of $41 million in the year ago quarter. The non-GAAP diluted loss per share was $0.10, compared to a loss of $0.08 in the year ago quarter.

Intuit typically posts a seasonal loss in its fourth quarter when there is little revenue from its tax businesses but expenses remain relatively constant. The 2009 GAAP and non-GAAP loss includes a $10 million charge for severance and facilities closures and a $9 million charge related to the July acquisition of PayCycle.

Forward-looking Guidance

Intuit provided its financial guidance for fiscal 2010, which will end on July 31, 2010. The company expects:

• Revenue of $3.30 billion to $3.43 billion, or growth of 4 to 8 percent.
  
• GAAP operating income of $785 million to $825 million, or growth of 15 to 21 percent.
  
• Non-GAAP operating income of $985 million to $1.025 billion, or growth of 6 to 10 percent.
  
• GAAP diluted EPS of $1.49 to $1.56 or growth of 10 to 16 percent.
  
• Non-GAAP diluted EPS of $1.89 to $1.96, or growth of 4 to 8 percent.

Fiscal 2010 Business Segment Guidance

Intuit's expected results for its business segments for fiscal 2010 are:

• Small Business Group revenue of $1.280 billion to $1.330 billion, or growth of 4 to 8 percent.
  
• Consumer Tax revenue of $1.045 billion to $1.085 billion, or growth of 5 to 9 percent.
  
• Accounting Professionals revenue of $363 million to $375 million, or growth of 3 to 7 percent.
  
• Financial Institutions revenue of $330 million to $341 million, or growth of 6 to 10 percent.
  
• Other Businesses revenue of $305 million to $318 million, or growth of 6 to 10 percent.

First-Quarter Fiscal 2010 Guidance

Intuit expects the following results for the first quarter of 2010, which will end on Oct. 31, 2009:

• Revenue of $479 million to $493 million, or growth of zero to 2 percent.
  
• GAAP operating loss of $126 million to $107 million and non-GAAP operating loss of $79 million to $60 million. Intuit typically posts a seasonal loss in its first quarter when it has little revenue from its tax businesses but expenses remain relatively constant.
  
• GAAP net loss per share of $0.28 to $0.24 and a non-GAAP net loss per share of $0.19 to $0.15.