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 KANSAS CITY, Mo. (AP) - Trouble in H&R Block Inc.'s subprime lending unit led the company Thursday to report fourth-quarter and full-year losses and predict smaller 2008 earnings than those expected by Wall Street.
For the three months ended April 30, the Kansas City-based company said it lost $85.5 million, or 26 cents per share, compared with earnings of $587.5 million, or $1.79, a year earlier. The latest quarter included $676.8 million in losses from discontinued operations, mostly tied to its Option One Mortgage Inc. subsidiary.
H&R Block said continuing operations earned $591.2 million, or $1.81 per share, up from $541.7 million, or $1.63 per share, during the same period a year ago.
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