By Josh Beckerman

Intuit Inc., the maker of TurboTax, said it plans to divest its Demandforce, QuickBase and Quicken operations to sharpen its focus.

The company also increased its dividend by 20% to 30 cents a share from 25 cents.

Intuit said its loss excluding items for the fiscal fourth quarter ended July 31 was five cents a share, while revenue rose 7% to $696 million. Intuit had expected a loss excluding items of 10 cents to 12 cents a share on revenue of $720 million to $745 million.

Net income was $14 million, or five cents a share, compared with a net loss of $29 million, or 10 cents a share, a year earlier.

The company said "small business momentum continues to build," with the addition of 110,000 QuickBooks Online subscribers during the quarter for a total of 1.075 million.

Intuit shares fell 2.9% to $99.90 in after-hours trading.

The planned exit from Demandforce, QuickBase and Quicken is expected to reduce revenue by about $250 million, and earnings excluding items by about 10 cents a share for the year ending in July 2016. Intuit expects revenue of $4.525 to $4.6 billion and earnings excluding items of $3.40 to $3.45 for the year.

Intuit bought marketing and communications software business Demandforce for about $423.5 million in 2012. QuickBase is a collaboration platform, while Quicken is a personal-finance software brand.

For the current quarter, Intuit expects a loss excluding items of three cents to four cents a share on revenue of $660 million to $680 million.

Write to Josh Beckerman at josh.beckerman@wsj.com

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(END) Dow Jones Newswires

August 20, 2015 19:18 ET (23:18 GMT)

Copyright (c) 2015 Dow Jones & Company, Inc.
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