IT 100 Special Report 2006 >

  THE INFOTECH 100 COMPANIES
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97

Intuit

(NasdaqNM: INTU)

USA

At the beginning of 2005, Intuit Chief Executive Stephen Bennett was warning shareholders this could be the year Intuit, maker of some of the most iconic retail software, would slide into single-digit growth. But thanks to a banner TurboTax year, revenues grew a solid 15% instead. That wasn't the only challenge Bennett overcame. In the fall, the QuickBooks franchise faced a big threat from Microsoft's new Small Business Accounting product. It was a threat Bennett had expected, and he was ready. So far, Intuit appears to be holding its own against the Redmond (Wash.) giant. Shareholders breathed a sigh of relief on both fronts as the stock returned a strong 27.8%, more than triple the three-year average of just 7.8%.

Company Info

2005 Rank

Not Ranked

Sales*
($ Millions)

2,301.2

Sales Growth
(over prev. year)

15 %

Profits*
($ Millions)

373.7

Return on Equity

22.3 %

Total Return on Sales (12-mo.)

27.8

Share Price
As of 5/31/06

55.29

CURRENT
MARKET INFO

NasdaqNM: INTU

No. of Employees

7,000

Industry Software
COMPANY WEB SITE >
*Trailing 12 months
Stock price data as of 5/31/06
DATA: Standard & Poor's Compustat

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Company Snapshot

Intuit provides business and financial management solutions for small business, consumer and professional tax, and accountants in the U.S., Canada, and Internationally. It offers QuickBooks-related products including QuickBooks accounting and business management software for small businesses, as well as the products and services that can be added on to QuickBooks. These include financial supplies, QuickBooks Payroll, merchant services, and technical support. The company's Intuit-branded small business products include outsourced payroll and solutions designed to meet the needs of businesses in the property management, wholesale durable goods distribution, and construction industries. The tax portfolio consists of two segments, consumer tax and professional tax. Consumer tax includes TurboTax consumer tax products and services. Professional Tax includes Lacerte and ProSeries professional tax products and services. Its other portfolio includes Quicken personal finance products and services. Intuit markets its products and services directly to its customers through its Web sites, call centers, and direct sales force, as well as through office supply superstores, warehouse clubs, consumer electronics retailers, food and drug retailers, catalogers, and general mass merchandisers. The company was founded in 1983 and is headquartered in Mountain View, Calif.


Data provided by Capital IQ
 
Stephen Bennett

Stephen Bennett, 51

President and Chief Executive Officer

Total Compensation

$6,623,114

Value of Options

$12,283,520

Concordia University Wisconsin, Inc - BA

Stephen Bennett has been president and chief executive officer of Intuit since January, 2000. Bennett served as acting senior vice-president of the consumer tax business from January, 2004. Previously, Bennett was at General Electric for 23 years, where he managed complex and diverse organizations from consumer appliances to financial services. From July, 1999, to November, 1999, he was president and CEO of GE Capital e-Business. He was president and CEO of GE Capital Vendor Financial Services from April, 1996, through June, 1999. In his last GE assignment, he served as an executive vice-president and a member of the office of the chief executive at GE Capital, the financial-services subsidiary of General Electric, from December, 1999, to January, 2000. Bennett has been a director of Sun Microsystems since June, 2004. He has been a director of Intuit since January, 2000, and is a member of the executive committee. He holds a bachelor's degree from the University of Wisconsin.



Executive Data provided by Capital IQ