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QBES SOARS FOR 2011
The lack of a real reselling channel isn’t denting the sales of QuickBooks Enterprise Solutions, which is probably why Intuit isn’t showing much interest in channel. The company ended fiscal 2011 on July 31 with 57,000 active users, a 26.7-percent increase from the 45,000 in 2010 and 54 percent over the 37,000 in 2009. And Intuit turned in a good year with $634 million in net income, an increase of 10.5 percent over $574 million for 2010.
That came on revenue of $3.85 billion revenue for the most recently ended year, an 11.2-percent rise from $3.46 billion the prior year. Another way QBES helps is the higher-sale pricing helps the revenue mix for the entire QB line. As noted in another item in this newsletter, subscriptions to QB Online continued to rise while desktop unit sales are going the other way. Intuit always loses money in the July quarter because its big gains are during tax season, so I won't go into 4Q details.
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