MEMO: H&R BLOCK REPORTS FOURTH-QUARTER EARNINGS

H&R Block reported increased earnings and profits for its fiscal fourth quarter, traditionally the strongest quarter for the nation's largest tax preparer.

The Kansas City-based firm reported net profits of $374 million, or $4 per share, for the quarter ending April 30, a 10 percent increase from $341 million, or $3.45 per share, reported a year earlier.

H&R Block traditionally makes most of its yearly profits in the fourth quarter because that is when most people file their tax returns.

For the fiscal year ending in April, the company reported record earnings of $281 million, an 11.6 percent increase from $252 million reported last year. Earnings-per-share rose 19.2 percent to $3.04, compared to $2.55 the prior year.