JTH Holding, Inc. is one of leading tax preparation service providers in the USA and Canada. The company provides both retail and online services to the people of USA and Canada. The services include value-added federal, state tax preparation services and other financial products. The company caters to the taxpayers who need assistance from tax preparation service providers to be able to file prompt tax refunds in the most convenient way possible without going through complexity. This statistics is based on the number of retail offices and number of returns prepared. In 2001, the company had 508 tax offices, which has increased to nearly 3,900 in the year 2011. The number of USA tax returns prepared has been increased from 137,000 approximately in 2001 to about 1.7 million in 2011.
The company has earned total revenue of $ 95.5 million in 2011, which was $ 84.6 million in the year 2010. The net income was $ 11 million in 2010 but it has increased to $ 15.8 in 2011. The systemwide revenue of the company was reported at $ 338.6 million in 2011, which was $ 304.3 million in the previous year.
Competition and Competitors
The tax preparation industry where JTH Holding, Inc. works is highly competitive. The company competes in the industries- Accounting Services and Professional Services Sector. There are thousands of companies in this industry and everybody is a competition. However, the most important competitors are Jackson Hewitt Tax Service, Inc., H&R Block, Inc. and Intuit, Inc. The national, local and regional tax return preparation companies pose as tough competition as well. Most of these are independent companies and some of these are franchised. The company has a set of rules that it follows to compete with rest of the companies to emerge as a successful organization.
IPO Filing And Funding
The company has filed with the Securities and Exchange Commission (SEC) to raise up to $ 90 million in an IPO on 9th September 2011. The company is thinking of applying for listing of their shares of class A common stock on the NYSE. It would use the symbol “TAX”. The amount of shares and the price of each share are yet to be declared by the company.