August 19, 2003 - EXHIBIT 99.1 - 8-K: Current report filing

EXHIBIT 99.1

INTUIT CONFIDENTIAL


Contacts:	Investors	Media
	Linda Fellows, VP	Heather McLellan
	Intuit Inc.	Intuit Inc.
	(650) 944-5436	(650) 944-3501
		or
		Allison Green
		Intuit Inc.
		(650) 944-2512

FOR IMMEDIATE RELEASE

INTUITS FISCAL 2003 REVENUE GROWS 26 PERCENT;
FOURTH-QUARTER 2003 REVENUE INCREASES 31 PERCENT

Board Authorizes New $500 Million Stock Repurchase Program

MOUNTAIN VIEW, Calif. Aug. 19, 2003 Intuit Inc. (NASDAQ: INTU) today announced results for its fourth quarter and fiscal 2003, which ended July 31, 2003. The company also announced a new stock repurchase program.

Intuit continued to execute on its recipe to drive sustained, profitable growth, said Steve Bennett, Intuits president and chief executive officer. That recipe involves being in the right businesses, executing effectively, expanding customer-driven innovation and acquiring new growth platforms. These powerful ingredients produced strong results for the quarter and year.

Fiscal 2003 Financial Highlights

		Revenue of $1.65 billion increased 26 percent from fiscal 2002. Growth was driven by strong performance in Intuits QuickBooks, Small Business Services, TurboTax and Professional Accounting Solutions growth engines, as well as acquisitions.

		Intuits pro forma net income of $293.8 million increased 46 percent from fiscal 2002. Pro forma diluted earnings per share of $1.39 grew 51 percent over the year-ago period. (See Tables B1 and B2 for a reconciliation of pro forma financial measures to the most directly comparable GAAP financial measures.)

On a GAAP basis, Intuit had net income of $343.0 million, up 145 percent from $140.2 million in fiscal 2002. This represents $1.63 per diluted share, up 155 percent from $0.64 per share in fiscal 2002. Last years GAAP results included acquisition-related charges of $181.4 million. Under new accounting rules adopted at the beginning of fiscal 2003, Intuit no longer amortizes goodwill. This years GAAP results benefited from a $71.0 million after-tax gain on the sale of its Japanese subsidiary.

Fiscal 2003 Business Segment Revenue Growth

		QuickBooks revenue grew 24 percent over fiscal 2002 to $242.8 million.

		Intuits Small Business Services revenue increased 35 percent over fiscal 2002 to $454.9 million. This unit includes payroll, supplies, technical support and information technology solutions.

		TurboTax revenue of $422.9 million was up 20 percent from fiscal 2002.

		Revenue from Intuits Professional Accounting Solutions business increased 8 percent over fiscal 2002 to $243.4 million.

		Intuits Vertical Business Management Solutions unit contributed $94.8 million in revenue, a 5 percent increase over the revenue those companies generated before they were acquired by Intuit in fiscal 2002.

		Revenue from Other Businesses, which includes Quicken and Canada, was $191.9 million, up 2 percent over fiscal 2002.

Fourth-Quarter 2003 Highlights

		Revenue of $245.1 million increased 31 percent from the year-ago quarter. Growth was driven by strong performance in Intuits QuickBooks and Small Business Services growth engines as well as the acquisitions.

		Intuits pro forma net loss of $10.7 million was better than a loss of $25.8 million in the year-ago quarter. The fourth-quarter pro forma diluted per share results were a loss of $0.05, better than a loss of $0.12 in the fourth quarter of fiscal 2002.

		On a GAAP basis, Intuit had a net loss of $24.7 million, better than a loss of $31.8 million in the year-ago quarter. This represents a loss of $0.12 per diluted share, better than a loss of $0.15 in the fourth quarter of fiscal 2002.

Board Authorizes Intuits New Stock Repurchase Program

Intuits board of directors has authorized the companys third stock repurchase program for up to $500 million in addition to the approximately $110 million that remained in Intuits existing program at the end of fiscal 2003. In fiscal 2003, Intuit repurchased nearly 18 million shares for more than $800 million. The company has repurchased more than 25.5 million shares for a total of approximately $1.1 billion since its first program became effective in May 2001.

Forward-Looking Guidance for Fiscal 2004

Intuit reaffirmed its guidance for fiscal 2004, which ends July 31, 2004:

		Revenue of $1.85 billion-$1.95 billion, or year-over-year organic growth of approximately 12-18 percent.

		Pro forma operating income of $480 million-$510 million, or growth of approximately 20-28 percent over fiscal 2003. On a GAAP basis, operating income is expected to be $449 million-$479 million, or growth of approximately 31-40 percent over fiscal 2003.

		Pro forma diluted earnings per share of $1.57-$1.67, or growth of approximately 13-20 percent over fiscal 2003. On a GAAP basis, diluted EPS is expected to be $1.47-$1.57, down approximately 4-10 percent from fiscal 2003. Fiscal 2003 GAAP EPS includes net income and gains from discontinued operations of nearly $80 million, which is not anticipated to recur in fiscal 2004.

Forward-Looking Guidance for First-Quarter 2004

Intuits guidance for the first quarter of fiscal 2004 is:

		Revenue of $225 million-$235 million, or year-over-year growth of 6-10 percent.

		A pro forma operating loss of $95 million-$85 million and a GAAP operating loss of $104 million-$94 million.

		A pro forma net loss per diluted share of $0.30-$0.26 and a GAAP net loss per diluted share of $0.33-$0.29.

About pro forma, or non-GAAP, financial measures

Intuit computes its pro forma, or non-GAAP, financial measures using the same consistent method from quarter to quarter and year to year. Pro forma operating income excludes

acquisition-related charges, such as amortization of goodwill and intangibles and impairment charges, as well as amortization of purchased software and charges for purchased research and development. Pro forma net income and diluted earnings per share exclude the same items excluded from pro forma operating income and also exclude discontinued operations, gains and losses on marketable securities and other investments, as well as the tax effects of these transactions. These pro forma financial measures are not prepared in accordance with generally accepted accounting principles and likely are different from non-GAAP or pro forma financial measures used by other companies. The accompanying tables and fact sheet have more details on Intuits historical performance and financial projections, the GAAP financial measures that are most directly comparable to Intuits pro forma financial measures, and the reconciliations of pro forma financial measures to GAAP.

Conference Call Scripts and Dial-In Information

The script that accompanies the Intuit earnings conference call and a live audio Web-cast of the call is available at www.intuit.com/company/investors. This press release, including the tables, is available at that site and any other supplemental financial and statistical information required to be posted, including pro forma reconciliations, will be posted to that site.

The conference call number is 800-615-5585 (706-679-0331 from international locations). The call begins today at 1:30 p.m. Pacific time. No reservation or access code is needed. Those planning to listen to the conference call should download the script before the call begins. A replay of the call will be available for one week by calling 800-642-1687 (706-645-9291 for international locations). The reservation number is 1917544.

Cautions About Forward-Looking Statements

This press release contains forward-looking statements about future financial results and other events that have not yet occurred, including guidance about our expected results for fiscal 2004. Statements in the guidance sections of this release, statements including words such as expect, anticipate or believe, and statements in the future tense, are forward-looking statements. Actual results may differ materially from our expressed expectations because of risks and uncertainties about the future. Some of the important factors that could cause our results to differ are discussed below. More details about these and other risks are included in our SEC filings, in our August 19, 2003, press release, and at www.intuit.com/company/investors/considerations.html. We do not intend to update the information in this presentation if any forward-looking statement later turns out to be inaccurate.

		Seasonality causes significant quarterly fluctuations in our revenue and net income.

		We face increasingly intense competitive pressures in all of our businesses, which can have a negative impact on our revenue, profitability and market position.

		Difficulties with implementation of new information systems could interfere with effective execution on our growth strategy or daily operations.

		Expanding our product and service offerings requires us to develop and enhance more and increasingly complex products, to market and sell higher-priced products and services, and to distribute and support the expanding portfolio of products and services.

		Some of our product and service offerings require us to develop and manage a direct sales organization, which is a new distribution method for us.

		Integrating acquired businesses creates operating challenges, as well as financial and information system challenges that we must overcome to realize the full benefits of our acquisitions.

		Risks relating to customer privacy and security and increasing governmental regulation could hinder the growth of our businesses.

		Risks related to our distribution channels include challenges in negotiating favorable terms with retailers and the negative effect of the current economic environment on retail sales of our core desktop software products.

		Actual product returns may exceed product return reserves that are based on our estimates.

Table A1
INTUIT INC.
GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(Unaudited)


			Three Months Ended						Twelve Months Ended
			July 31,						July 31,

			2002			2003			2002			2003

Net revenue:
	Product		$	126,647		$	159,297		$	977,528		$	1,157,943
	Service			46,518			66,612			273,575			423,548
	Other			13,685			19,188			61,125			69,252

Total net revenue				186,850			245,097			1,312,228			1,650,743
Costs and expenses:
	Cost of revenue:
		Product, service and other		55,677			69,561			289,373			343,964
		Amortization of purchased software		1,981			3,639			12,423			13,796
	Customer service and technical support			36,391			37,684			164,875			178,949
	Selling and marketing			59,875			68,664			263,721			324,389
	Research and development			48,835			63,612			198,471			255,821
	General and administrative			27,249			36,591			109,076			148,855
	Charge for purchased research and development			2,151						2,151			8,859
	Charge (credit) for vacant facilities						(1,069	)		13,237			(1,069	)
	Acquisition-related charges (iii)			40,886			6,932			181,401			33,947
	Loss on impairment of long-lived asset									27,000

		Total costs and expenses		273,045			285,614			1,261,728			1,307,511

Income (loss) from continuing operations				(86,195	)		(40,517	)		50,500			343,232
Interest and other income				2,629			13,945			27,276			38,694
Gains (losses) on marketable securities and other investments, net				(6,269	)		818			(15,535	)		10,912
Gain on divestiture of business										8,308

Income (loss) from continuing operations before income taxes				(89,835	)		(25,754	)		70,549			392,838
Income tax (benefit) provision (i)				(14,158	)		(1,066	)		16,934			129,636

Net income (loss) from continuing operations				(75,677	)		(24,688	)		53,615			263,202
Discontinued operations, net of income taxes (iv) and (v):
	Net income from Quicken Loans discontinued operations			10,713						47,100
	Gain on disposal of Quicken Loans discontinued operations			23,300						23,300			5,556
	Net income from Intuit KK discontinued operations			9,902						16,145			3,267
	Gain on disposal of Intuit KK discontinued operations												71,009

Net income from discontinued operations				43,915						86,545			79,832

Net income (loss)			$	(31,762	)	$	(24,688	)	$	140,160		$	343,034

Basic net income (loss) per share from continuing operations			$	(0.36	)	$	(0.12	)	$	0.25		$	1.28
Basic net income per share from discontinued operations				0.21						0.41			0.39

Basic net income (loss) per share			$	(0.15	)	$	(0.12	)	$	0.66		$	1.67

Shares used in basic per share amounts				212,003			201,819			211,794			205,294

Diluted net income (loss) per share from continuing operations			$	(0.36	)	$	(0.12	)	$	0.24		$	1.25
Diluted net income per share from discontinued operations				0.21						0.40			0.38

Diluted net income (loss) per share			$	(0.15	)	$	(0.12	)	$	0.64		$	1.63

Shares used in diluted per share amounts				212,003			201,819			217,897			210,955

Table A2
INTUIT INC.
PRO FORMA CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(Unaudited)


			Three Months Ended						Twelve Months Ended
			July 31,						July 31,

			2002			2003			2002		2003

Net revenue:
	Product		$	126,647		$	159,297		$	977,528	$	1,157,943
	Service			46,518			66,612			273,575		423,548
	Other			13,685			19,188			61,125		69,252

Total net revenue				186,850			245,097			1,312,228		1,650,743
Costs and expenses:
	Cost of revenue:
		Product, service and other		55,677			69,561			289,373		343,964
	Customer service and technical support			36,391			37,684			164,875		178,949
	Selling and marketing			59,875			68,664			263,721		324,389
	Research and development			48,835			63,612			198,471		255,821
	General and administrative			27,249			36,591			109,076		148,855
	Charge (credit) for vacant facilities						(1,069	)		13,237		(1,069	)

		Total costs and expenses		228,027			275,043			1,038,753		1,250,909

Income (loss) from operations				(41,177	)		(29,946	)		273,475		399,834
Interest and other income				2,629			13,945			27,276		38,694

Income before income taxes				(38,548	)		(16,001	)		300,751		438,528
Income tax (benefit) provision				(12,721	)		(5,280	)		99,248		144,714

Net income (loss)			$	(25,827	)	$	(10,721	)	$	201,503	$	293,814

Basic net income (loss) per share			$	(0.12	)	$	(0.05	)	$	0.95	$	1.43

Shares used in basic per share amounts				212,003			201,819			211,794		205,294

Diluted net income (loss) per share			$	(0.12	)	$	(0.05	)	$	0.92	$	1.39

Shares used in diluted per share amounts				212,003			201,819			217,897		210,955

The pro forma or non-GAAP financial measures above should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with generally accepted accounting principles (GAAP). These pro forma financial measures are not prepared in accordance with GAAP and likely are different from pro forma financial measures used by other companies. Intuits management believes that these pro forma financial measures provide meaningful supplemental information regarding Intuits core operating results because they exclude amounts that are not necessarily related to Intuits core operating results. Intuits management refers to these pro forma financial measures in assessing the performance of Intuits ongoing operations and for planning and forecasting in future periods. These pro forma financial measures also facilitate managements internal comparisons to Intuits historical operating results. In addition, Intuit has historically reported similar pro forma financial measures and believes that the inclusion of comparative numbers provides consistency in its financial reporting. Intuit computes pro forma financial measures using the same consistent method from quarter to quarter and year to year. See Tables B1 and B2 for reconciliations of these pro forma financial measures to GAAP.

Table B1
INTUIT INC.
RECONCILIATION OF PRO FORMA FINANCIAL MEASURES
TO GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (ii)-(v)
(In thousands, except per share amounts)
(Unaudited)


			Three Months Ended									Three Months Ended
			July 31, 2002									July 31, 2003

			Pro									Pro
			Forma			Adjmts (ii)			GAAP			Forma			Adjmts (ii)			GAAP

Net revenue:
	Product		$	126,647		$			$	126,647		$	159,297		$			$	159,297
	Service			46,518						46,518			66,612						66,612
	Other			13,685						13,685			19,188						19,188

Total net revenue				186,850						186,850			245,097						245,097
Costs and expenses:
	Cost of revenue:
		Product, service and other		55,677						55,677			69,561						69,561
		Amortization of purchased software					1,981			1,981						3,639			3,639
	Customer service and technical support			36,391						36,391			37,684						37,684
	Selling and marketing			59,875						59,875			68,664						68,664
	Research and development			48,835						48,835			63,612						63,612
	General and administrative			27,249						27,249			36,591						36,591
	Charge for purchased research and development						2,151			2,151
	Charge (credit) for vacant facilities												(1,069	)					(1,069	)
	Acquisition-related charges (iii)						40,886			40,886						6,932			6,932
	Loss on impairment of long-lived asset

		Total costs and expenses		228,027			45,018			273,045			275,043			10,571			285,614

Income (loss) from continuing operations				(41,177	)		(45,018	)		(86,195	)		(29,946	)		(10,571	)		(40,517	)
Interest and other income				2,629						2,629			13,945						13,945
Gains (losses) on marketable securities and other investments, net							(6,269	)		(6,269	)					818			818
Gain on divestiture of business

Income (loss) from continuing operations before income taxes				(38,548	)		(51,287	)		(89,835	)		(16,001	)		(9,753	)		(25,754	)
Income tax (benefit) provision				(12,721	)		(1,437	)		(14,158	)		(5,280	)		4,214			(1,066	)

Net income (loss) from continuing operations				(25,827	)		(49,850	)		(75,677	)		(10,721	)		(13,967	)		(24,688	)
Discontinued operations, net of income taxes:
	Net income from Quicken Loans discontinued operations (iv)						10,713			10,713
	Gain on disposal of Quicken Loans discontinued operations (iv)						23,300			23,300
	Net income from Intuit KK discontinued operations (v)						9,902			9,902
	Gain on disposal of Intuit KK discontinued operations (v)

Net income from discontinued operations							43,915			43,915

Net income (loss)			$	(25,827	)	$	(5,935	)	$	(31,762	)	$	(10,721	)	$	(13,967	)	$	(24,688	)

Basic net income (loss) per share from continuing operations			$	(0.12	)				$	(0.36	)	$	(0.05	)				$	(0.12	)
Basic net income per share from discontinued operations										0.21

Basic net income (loss) per share			$	(0.12	)				$	(0.15	)	$	(0.05	)				$	(0.12	)

Shares used in basic per share amounts				212,003						212,003			201,819						201,819

Diluted net income (loss) per share from continuing operations			$	(0.12	)				$	(0.36	)	$	(0.05	)				$	(0.12	)
Diluted net income per share from discontinued operations										0.21

Diluted net income (loss) per share			$	(0.12	)				$	(0.15	)	$	(0.05	)				$	(0.12	)

Shares used in diluted per share amounts				212,003						212,003			201,819						201,819

Table B2
INTUIT INC.
RECONCILIATION OF PRO FORMA FINANCIAL MEASURES
TO GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (ii)-(v)
(In thousands, except per share amounts)
(Unaudited)


			Twelve Months Ended								Twelve Months Ended
			July 31, 2002								July 31, 2003

			Pro								Pro
			Forma		Adjmts (ii)			GAAP			Forma			Adjmts (ii)			GAAP

Net revenue:
	Product		$	977,528	$			$	977,528		$	1,157,943		$			$	1,157,943
	Service			273,575					273,575			423,548						423,548
	Other			61,125					61,125			69,252						69,252

Total net revenue				1,312,228					1,312,228			1,650,743						1,650,743
Costs and expenses:
	Cost of revenue:
		Product, service and other		289,373					289,373			343,964						343,964
		Amortization of purchased software				12,423			12,423						13,796			13,796
	Customer service and technical support			164,875					164,875			178,949						178,949
	Selling and marketing			263,721					263,721			324,389						324,389
	Research and development			198,471					198,471			255,821						255,821
	General and administrative			109,076					109,076			148,855						148,855
	Charge for purchased research and development					2,151			2,151						8,859			8,859
	Charge (credit) for vacant facilities			13,237					13,237			(1,069	)					(1,069	)
	Acquisition-related charges (iii)					181,401			181,401						33,947			33,947
	Loss on impairment of long-lived asset					27,000			27,000

		Total costs and expenses		1,038,753		222,975			1,261,728			1,250,909			56,602			1,307,511

Income (loss) from continuing operations				273,475		(222,975	)		50,500			399,834			(56,602	)		343,232
Interest and other income				27,276					27,276			38,694						38,694
Gains (losses) on marketable securities and other investments, net						(15,535	)		(15,535	)					10,912			10,912
Gain on divestiture of business						8,308			8,308

Income (loss) from continuing operations before income taxes				300,751		(230,202	)		70,549			438,528			(45,690	)		392,838
Income tax (benefit) provision				99,248		(82,314	)		16,934			144,714			(15,078	)		129,636

Net income (loss) from continuing operations				201,503		(147,888	)		53,615			293,814			(30,612	)		263,202
Discontinued operations, net of income taxes:
	Net income from Quicken Loans discontinued operations (iv)					47,100			47,100
	Gain on disposal of Quicken Loans discontinued operations (iv)					23,300			23,300						5,556			5,556
	Net income from Intuit KK discontinued operations (v)					16,145			16,145						3,267			3,267
	Gain on disposal of Intuit KK discontinued operations (v)														71,009			71,009

Net income from discontinued operations						86,545			86,545						79,832			79,832

Net income (loss)			$	201,503	$	(61,343	)	$	140,160		$	293,814		$	49,220		$	343,034

Basic net income (loss) per share from continuing operations			$	0.95				$	0.25		$	1.43					$	1.28
Basic net income per share from discontinued operations									0.41									0.39

Basic net income (loss) per share			$	0.95				$	0.66		$	1.43					$	1.67

Shares used in basic per share amounts				211,794					211,794			205,294						205,294

Diluted net income (loss) per share from continuing operations			$	0.92				$	0.24		$	1.39					$	1.25
Diluted net income per share from discontinued operations									0.40									0.38

Diluted net income (loss) per share			$	0.92				$	0.64		$	1.39					$	1.63

Shares used in diluted per share amounts				217,897					217,897			210,955						210,955

Notes to Tables A1, B1 and B2:

	i.		There is a difference in the effective tax rate for each of these periods, primarily due to the net effect of non-deductible merger and divestiture related charges offset by the benefit received from tax-exempt interest income and various tax credits.

	ii.		Tables B1 and B2 reconcile the differences between the pro forma or non-GAAP financial measures, which are not prepared in accordance with generally accepted accounting principles (GAAP), and the GAAP condensed consolidated statements of operations for the three and twelve months ended July 31, 2002 and 2003. Pro forma operating income (loss) excludes certain cost and expense line items that are in the GAAP statement of operations. For example, for the line item acquisition-related charges, the number in the GAAP column is subtracted out of the pro forma column in calculating pro forma operating income or loss. Eliminating cost or expense items increases pro forma results compared to GAAP results. Pro forma net income (loss) starts with pro forma operating income or loss and then excludes certain non-operating gains and losses that are in the GAAP statement of operations. For example, for the line item gains (losses) on marketable securities and other investments, net the number in the GAAP column is taken out of the pro forma column in calculating pro forma net income or loss. Eliminating loss line items increases pro forma results compared to GAAP results. Eliminating gain line items decreases pro forma results compared to GAAP results.

	iii.		Acquisition-related charges include amortization of goodwill and intangible assets as well as impairment charges. For the three and twelve months ended July 31, 2002, amortization of goodwill was $29.2 million and $122.6 million, amortization of intangible assets and deferred compensation was $11.7 million and $36.8 million, and there were $22.0 million in impairment charges. For the three and twelve months ended July 31, 2003, there was no goodwill amortization due to the implementation of Statement of Financial Accounting Standards No. 142 on August 1, 2002. Amortization of intangible assets and deferred compensation during those periods was $6.9 million and $33.9 million, and there were no impairment charges.

	iv.		On July 31, 2002, we sold our Quicken Loans mortgage business to Rock Acquisition Corporation. We accounted for the sale as discontinued operations and, accordingly, the operating results of Quicken Loans have been segregated from continuing operations on our statement of operations for the three and twelve months ended July 31, 2002. Income taxes netted against income from discontinued operations amounted to $6.0 million and $26.5 million for those periods. We recorded a $23.3 million gain on the sale of Quicken Loans in the fourth quarter of fiscal 2002. In the first quarter of fiscal 2003, we sold our residual minority equity interest in Rock and recorded a gain of $5.6 million.

	v.		On February 7, 2003, we sold our wholly owned Japanese subsidiary, Intuit KK, to a private equity investment firm located in Japan for 9.5 billion yen or approximately $79.0 million. We accounted for the sale as discontinued operations and, accordingly, the operating results of Intuit KK have been segregated from continuing operations on our statement of operations for all periods prior to the sale. Income tax benefits included in net income from discontinued operations amounted to $1.1 million and $1.8 million for the three and twelve months ended July 31, 2002. Income tax expense netted against net income from discontinued operations amounted to $2.4 million for the first six months of fiscal 2003. In the third quarter of fiscal 2003, there was no material income or loss from Intuit KK discontinued operations and we recorded a gain of $71.0 million on the sale, net of income taxes of $5.1 million.

Table C
INTUIT INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)


					July 31,		July 31,
					2002		2003

				ASSETS
Current assets:
	Cash and cash equivalents				$	408,948	$	170,043
	Short-term investments					815,342		1,036,758
	Marketable securities					16,791		865
	Customer deposits					300,409		306,007
	Accounts receivable, net					51,999		88,156
	Income taxes receivable					2,187
	Deferred income taxes					67,799		34,824
	Prepaid expenses and other current assets					49,581		32,217
	Amounts due from discontinued operations entities					241,616

		Total current assets				1,954,672		1,668,870
Property and equipment, net						179,122		188,253
Goodwill, net						428,948		591,091
Purchased intangible assets, net						125,474		125,445
Long-term deferred income taxes						176,553		183,061
Loans to executive officers and other employees						21,270		19,690
Other assets						37,654		13,857
Net long-term assets of discontinued operations						4,312

Total assets					$	2,928,005	$	2,790,267

			LIABILITIES AND STOCKHOLDERS EQUITY
Current liabilities:
	Accounts payable				$	71,069	$	56,786
	Accrued compensation and related liabilities					87,426		118,678
	Payroll service obligations					300,381		306,007
	Deferred revenue					147,120		178,840
	Income taxes payable							76,725
	Other current liabilities					66,090		59,129
	Net current liabilities of discontinued operations					7,688

		Total current liabilities				679,774		796,165
Long-term obligations						32,592		29,265
Stockholders equity						2,215,639		1,964,837

Total liabilities and stockholders equity					$	2,928,005	$	2,790,267


Note:		Balance sheets for all periods presented have been reclassified to reflect Intuit KK as discontinued operations.

Table D
INTUIT INC.
RECONCILIATION OF GUIDANCE FOR PRO FORMA FINANCIAL MEASURES
TO PROJECTED GAAP REVENUE, OPERATING INCOME (LOSS), AND EPS
(In thousands, except per share amounts)
(Unaudited)


	Three Months Ending October 31, 2003

	Pro Forma									GAAP
	Range of Estimate									Range of Estimate

	From			To			Adjustments			From			To

Revenue	$	225,000		$	235,000		$			$	225,000		$	235,000
Operating loss		(95,000	)		(85,000	)		(8,900	)[a]		(103,900	)		(93,900	)
Interest and other income		4,000			5,000						4,000			5,000
Diluted loss per share	$	(0.30	)	$	(0.26	)	$	(0.03	)[b]	$	(0.33	)	$	(0.29	)
Shares		200,000			203,000						200,000			203,000


	Twelve Months Ending July 31, 2004

	Pro Forma							GAAP
	Range of Estimate							Range of Estimate

	From		To		Adjustments			From		To

Revenue	$	1,850,000	$	1,950,000	$			$	1,850,000	$	1,950,000
Operating income		480,000		510,000		(31,000	)[c]		449,000		479,000
Interest and other income		20,000		25,000					20,000		25,000
Diluted earnings per share	$	1.57	$	1.67	$	(0.10	)[d]	$	1.47	$	1.57
Shares		212,000		215,000					210,000		215,000


[a]		Pro forma guidance reflects estimated adjustments for amortization of purchased software of approximately $4.6 million and amortization of purchased intangible assets of approximately $4.3 million for the three months ending October 31, 2003.
[b]		Net of income taxes, the pro forma adjustments in item [a] result in a $0.03 per diluted share adjustment for the three months ending October 31, 2003.
[c]		Pro forma guidance reflects estimated adjustments for amortization of purchased software of approximately $18.0 million and amortization of purchased intangible assets of approximately $13.0 million for the twelve months ending July 31, 2004.
[d]		Net of income taxes, the pro forma adjustments in item [c] result in a $0.10 per diluted share adjustment for the twelve months ending July 31, 2004.

The reconciliations of the forward-looking pro forma financial measures to GAAP in this Table D include all information reasonably available to Intuit at the date of this press release. The adjustments in this table are those that management can predict. Intuits pro forma financial measures exclude acquisition-related charges, discontinued operations and gains and losses on marketable securities. Events that could cause the reconciliation to change include acquisitions and divestitures of businesses, goodwill and other asset impairments and sales of marketable securities.


*Intuit Facts ...Q4/FY03 & FY04*		Intuit Inc.
Investor Relations (650) 944-3560		NASDAQ: INTU

Financial Outlook^(A)


	(actual)			(actual)			(guidance)			(in future)	(in future)	(in future)	(guidance)
(millions)	Q4 FY03			FY03			Q1 FY04			Q2 FY04	Q3 FY04	Q4 FY04	FY04

QuickBooks	$	54.7		$	242.8			$42-$47
% of change YOY		48	%		24	%								15%-25	%
Small Business Services	$	117.7		$	454.9			$110-$125
% of change YOY		34	%		35	%								15%-25	%
TurboTax	$	8.5		$	422.9			$3-$5
% of change YOY		(46	%)		20	%								10%-20	%
Vertical Businesses	$	26.3		$	94.8			$20-$25
% of change YOY	New			New										15%-25	%
Prof. Accounting Solutions	$	6.2		$	243.4			$6-$8
% of change YOY		(17	%)		8	%								7%-12	%
All Other	$	31.7		$	191.9			$32-$35
% of change YOY		(1	%)		2	%								0%-5	%

Total Revenue	$	245.1		$	1,650.7			$225-$235					$	1850-$1950
% of change YOY		31	%		26	%								12%-18	%
Operating Income^(B)		($29.9	)	$	399.8			($95)-($85	)					$480-$510
% of change YOY		n/a			46	%								20%-28	%
Interest & Other Income	$	13.9		$	38.7			$4-$5						$20-$25
% of change YOY		430	%		42	%								(48%)-(35	%)
EPS^{(B) not in millions}		($0.05	)	$	1.39			($0.30)-($0.26	)					$1.57-$1.67
% of change YOY		n/a			51	%								13%-20	%
Weighted Shares		202			211			200-203						210-215
Tax Rate		33	%		33	%		34	%					34	%

Business Metrics


QuickBooks FY03		Tax FY03

QuickBooks retail unit share: 81.2%^(C)		TurboTax retail unit share: 70.6%^(C)
QuickBooks retail dollar share: 88.6%^(C)		TurboTax retail dollar share: 79.2%^(C)
QuickBooks units sold: 1.1M^(D)		TurboTax Fed desktop units: 6.1M, up 12% YOY^(D)
Basic & Pro units: 1M^(D)		TurboTax Fed web units paid: 2.5M, up 13% YOY
Premier & Enterprise: 54K^(D)		TurboTax Fed web units unpaid: 1.3M, up 18% YOY
Flavors units: 71K^(D)		Professional Accounting Tax customers: 103K
IDN applications (cumulative): 293		Efile returns: 20.7M, up 20% YOY
Direct units sold: 43% vs. 33% in FY 02

Segment Composition


Small Business Services includes:

QuickBooks Support Services
Financial Supplies Group
Information Technology Solutions
Intuit Developer Network (IDN)
Payroll


Verticals includes:

Intuit Construction Business Solutions
Intuit Public Sector Solutions
Intuit Real Estate Solutions (MRI)
Intuit Distribution Management Solutions (Eclipse)

Small Business Services

Payroll Cust. @

FY02

FY03

DIY (Basic)

675K

739K

Outsourced

60K

67K

Corporate Metrics

Q4 FY03

FY03

Q4 FY03

Q4 FY02

Q4 FY03

Capital expenditures

14.1M

84.7M

F/T Employees

6,624

6,088

Common Stock Outstanding

199M

Depreciation

18.7M

73.8M

Organic Revenue Growth

^(A)		This contains forward looking information that is subject to risks and uncertainties. Actual results may differ materially due to the factors included in Intuits August 19, 2003 earnings press release and SEC filings and at www.intuit.com/company/investors/considerations.html.

^(B)		These are Pro forma, or Non-GAAP, financial measures. They exclude acquisition related costs, pre-tax gains and losses related to marketable securities and other investments, and other similar items. See Tables B1, B2 and D of accompanying press release. FY02 adjusted for sale of Quicken Loans and Intuit KK.

^(C)		Source: QuickBooks NPD Group NPD Techworld Monthly Retail Software Report through June 2003 based on Intuits categorization of accounting. Tax (Federal) NPD Group NPD Techworld Monthly Retail Software Report through May 2003.

^(D)		End-user purchases or products customers have bought and paid for at both retail and direct.

Form: 8-K

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