Exhibit 99.01

Contacts:		Investors		Media
		Bob Lawson		Holly Anderson
		Intuit Inc.		Intuit Inc.
		(650) 944-6165		(650) 944-3992
		Robert_Lawson@intuit.com		Holly_Anderson@intuit.com

Intuit’s Second-Quarter Revenue Grows 15 Percent

Raises Fiscal Year 2006 Earnings per Share Guidance

     MOUNTAIN VIEW, Calif. – Feb. 16, 2006 – Intuit Inc. (Nasdaq: INTU) today announced its second quarter 2006 revenue increased 15 percent over the year-ago quarter to $742.7 million. Growth was driven by strong sales of QuickBooks software and add-on solutions and TurboTax products and services. Revenue growth also benefited from changes in the TurboTax offering and pricing, which shifted approximately $35 million of revenue into the second quarter that in prior years would have been recognized in the third quarter. Without that timing shift, Intuit’s revenue would have increased 9 percent.

     “Intuit delivered another strong quarter and we’re on track for another strong year,” said Steve Bennett, Intuit’s president and chief executive officer. “Our two largest businesses – QuickBooks and TurboTax – continued to perform very well as we successfully execute strategies to expand our customer base and solve more of our customers’ needs.”

Second-Quarter 2006 Financial Highlights

     Intuit posted GAAP (Generally Accepted Accounting Principles) net income of $184.9 million, up 26 percent from the year-ago quarter. GAAP diluted earnings per share, or EPS, was $1.02, up 32 percent from the year-ago quarter. Second-quarter 2006 GAAP results benefited from a gain of approximately $0.14 per share from the sale of its Information Technology Solutions business. GAAP results also included approximately $0.06 per share for share-based compensation expenses.

     Intuit’s non-GAAP net income of $176.5 million was up 17 percent over the prior-year period. Non-GAAP diluted EPS was $0.97, up 21 percent over the prior-year period.

•

QuickBooks-Related revenue of $259.0 million was up 16 percent over the year-ago quarter.

•

Consumer Tax revenue of $190.3 million was up 35 percent over the year-ago quarter. Because of changes in the TurboTax product offering and pricing, Intuit recognized approximately $35 million in the second quarter of 2006 that in prior years would have been recognized in its third fiscal quarter. Had that revenue not shifted from the third to second quarter this year, Consumer Tax revenue would have increased 10 percent.

•

Professional Tax revenue of $150.5 million was flat year-over-year.

•

Intuit-Branded Small Business revenue of $69.6 million was up 15 percent over the year-ago quarter.

•

Other Businesses revenue of $73.3 million was flat year-over-year.

Fiscal 2006 Guidance

     Intuit raised its EPS guidance for fiscal 2006, which will end on July 31, 2006, to reflect the strength of first-half performance and greater visibility into the remainder of the year. It also raised the low end of its fiscal 2006 revenue guidance. The company expects:

•

Revenue of $2.22 billion to $2.26 billion, which represents annual growth of 9 percent to 11 percent. Earlier guidance was for annual growth of 8 percent to 11 percent.

•

GAAP diluted EPS of $2.16 to $2.21, versus $2.03 in fiscal 2005. Prior guidance was for GAAP diluted EPS of $2.12 to $2.20. On a non-GAAP basis, diluted EPS is expected to be $2.27 to $2.32, which represents annual growth of 13 percent to 15 percent. Earlier guidance was for non-GAAP EPS of $2.23 to $2.31, or annual growth of 11 percent to 15 percent.

Third-Quarter 2006 Guidance

     Intuit has narrowed its third-quarter guidance to the lower ends of the prior ranges. Intuit now expects:

•

Revenue of $860 million to $880 million, or year-over-year growth of 3 percent to 5 percent.

•

GAAP diluted EPS of $1.54 to $1.58. Intuit expects non-GAAP diluted EPS of $1.62 to $1.66, or year-over-year growth of 5 percent to 8 percent.

Fourth-Quarter 2006 Guidance

     Intuit has raised its fourth-quarter EPS guidance and raised the lower end of fourth-quarter revenue guidance. Intuit now expects:

•

Revenue of $310 million to $330 million, or year-over-year growth of 3 percent to 9 percent.

•

GAAP diluted EPS of a loss of $0.15 to a loss of $0.17. Intuit expects non-GAAP diluted EPS of a loss of $0.07 to $0.09.

     Revenue growth guidance for Intuit’s five business segments is provided on the accompanying fact sheet.

Webcast and Conference Call Information

     A live audio webcast of Intuit’s second-quarter 2006 conference call is available at http://www.intuit.com/about_intuit/investors/webcast_events.html. The call begins today at 1:30 p.m. PST. The replay of the audio webcast will remain on Intuit’s Web site for one week after the conference call. Intuit has posted to its Web site this press release, including the attached tables and non-GAAP to GAAP reconciliations. Intuit will post the conference call script to the Web site shortly after the conference call concludes.

     The conference call number is (866) 244-4515 in the United States and (703) 639-1168 from international locations. No reservation or access code is needed. A replay of the call will be available for one week by calling (888) 266-2081 in the United States and (703) 925-2533 from international locations. The access code is 846377.

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Intuit, the Intuit logo, Quicken, QuickBooks and TurboTax, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries.

About Non-GAAP Financial Measures
This press release and the accompanying tables and sheet entitled “Intuit Facts” include non-GAAP financial measures. For a description of these non-GAAP financial measures and reconciliations of these non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with Generally Accepted Accounting Principles (GAAP), please see the section of the accompanying tables entitled “About Non-GAAP Financial Measures” as well as the related Table A2, Table B1, Table B2, Table E1 and Table E2 which follow it. A copy of the press release filed by Intuit on Feb. 16, 2006, can be found on the investor relations page of Intuit’s Web site at www.intuit.com.

Cautions About Forward-Looking Statements
This press release contains forward-looking statements, including forecasts of our expected financial results; our prospects for the business in fiscal 2006 and beyond; all of the statements under the headings “Fiscal 2006 Guidance,” “Third-Quarter 2006 Guidance” and “Fourth-Quarter 2006 Guidance;” and all information under the heading “Guidance” on the attached fact sheet.

Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause our actual results to differ materially from the expectations expressed in the forward-looking statements. These factors include, without limitation, the following: product introductions and price competition from our competitors, including Microsoft, can have unpredictable negative effects on our revenue, profitability and market position; governmental encroachment in our tax businesses or other governmental activities regulating the filing of tax returns could negatively effect our operating results and market position; current and future products and services may not adequately address customer needs and may not achieve broad market acceptance, which could harm our operating results and financial condition; we may not be able to accurately predict consumer behavior, and consumers may not respond as we expect to our advertising and promotional activities; our participation in the Free File Alliance may result in lost revenue due to potential customers filing free federal returns and electing not to pay for state filing or other services and cannibalization of our traditional paid franchise; our revenue and earnings are highly seasonal and the timing of our revenue between quarters is difficult to predict, which may cause significant quarterly fluctuations in our financial results; predicting tax-related revenues is challenging due to the heavy concentration of activity in a short time period; we may not be able to successfully introduce new products and services to meet our growth and profitability objectives; our new product or service offerings may not attract customers or they may negatively impact our profitability if the business models for new offerings are not successful or if customers elect to purchase lower-priced alternatives; we have implemented, and are continuing to upgrade, new information systems and any problems with these new systems could interfere with our ability to ship and deliver products and gather information to effectively manage our business; our financial position may not make repurchasing shares advisable or we may issue additional shares in an acquisition causing our number of outstanding shares to grow; litigation involving intellectual property, antitrust, shareholder and other matters may increase our costs; and our failure to maintain reliable and responsive service levels for our offerings could cause us to lose customers and negatively impact our revenues and profitability. More details about these and other risks that may impact our business are included in our Form 10-K for fiscal 2005 and in our other SEC filings. You can locate these reports through our Web site at http://www.intuit.com/about_intuit/investors. Forward-looking statements are based on information as of Feb. 16, 2006, and we do not undertake any duty to update any forward-looking statement or other information in this press release.

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

		Three Months Ended								Six Months Ended
		January 31,				January 31,				January 31,				January 31,
		2006				2005				2006				2005
Net revenue:
Product		$	557,079			$	497,198			$	739,533			$	651,201
Service			166,917				135,410				271,537				219,567
Other			18,708				15,636				35,705				30,252
Total net revenue			742,704				648,244				1,046,775				901,020
Costs and expenses:
Cost of revenue:
Cost of product revenue			68,485				63,863				100,916				93,707
Cost of service revenue			57,271				47,458				110,667				87,210
Cost of other revenue			6,122				5,111				11,974				10,908
Amortization of purchased intangible assets			2,763				2,626				5,712				5,167
Selling and marketing			196,903				173,458				344,333				302,004
Research and development			100,084				76,946				197,364				151,311
General and administrative			65,297				56,425				128,892				106,066
Acquisition-related charges			3,553				4,169				7,312				8,610
Total costs and expenses			500,478				430,056				907,170				764,983
Operating income from continuing operations			242,226				218,188				139,605				136,037
Interest and other income			5,322				2,982				11,626				6,837
Gains on marketable equity securities and other investments, net			3,027				60				7,294				218
Income from continuing operations before income taxes			250,575				221,230				158,525				143,092
Income tax provision [A]			93,352				76,256				58,913				43,615
Net income from continuing operations			157,223				144,974				99,612				99,477
Net income from discontinued operations [B]			27,726				2,278				39,533				1,639
Net income		$	184,949			$	147,252			$	139,145			$	101,116
Basic net income per share from continuing operations		$	0.90			$	0.78			$	0.57			$	0.53
Basic net income per share from discontinued operations			0.16				0.01				0.22				0.01
Basic net income per share		$	1.06			$	0.79			$	0.79			$	0.54
Shares used in basic per share amounts			175,146				186,331				176,276				187,339
Diluted net income per share from continuing operations		$	0.87			$	0.76			$	0.55			$	0.52
Diluted net income per share from discontinued operations			0.15				0.01				0.21				0.01
Diluted net income per share		$	1.02			$	0.77			$	0.76			$	0.53
Shares used in diluted per share amounts			181,791				190,100				182,600				191,229
Share-based compensation expense for stock options, Employee Stock Purchase Plan, restricted stock and restricted stock units in continuing operations [C]:
Cost of product revenue		$	245			$	—			$	533			$	—
Cost of service revenue			496				—				1,133				—
Selling and marketing			5,250				—				11,557				—
Research and development			4,684				—				10,294				—
General and administrative			7,074				1,626				14,656				3,251
Total		$	17,749			$	1,626			$	38,173			$	3,251

See accompanying Notes.

INTUIT INC.
NOTES TO TABLE A1

[A]		Our effective tax rates for the three and six months ended January 31, 2006 were approximately 37% and differed from the federal statutory rate primarily due to state income taxes, which were partially offset by the benefit we received from federal and state research and experimentation credits and tax exempt interest income. Our effective tax rates for the three and six months ended January 31, 2005 were approximately 34% and 30% and differed from the federal statutory rate due to the benefit we received from federal research and experimental credits, tax exempt interest income and various state tax credits. In addition, we benefited from the retroactive extension of federal research and experimental credits. These benefits were partially offset by state taxes.
[B]		In May 2005 our Board of Directors formally approved a plan to sell our Intuit Information Technology Solutions (ITS) business and in December 2005 we sold ITS for approximately $200 million in cash. In accordance with the provisions of Statement of Financial Accounting Standards (SFAS) No. 144, “Accounting for the Impairment or Disposal of Long-lived Assets,” we determined that ITS became a long-lived asset held for sale in the fourth quarter of fiscal 2005. In accordance with SFAS 144, we discontinued the amortization of ITS intangible assets and the depreciation of ITS property and equipment in the fourth quarter of fiscal 2005.
		Also in accordance with the provisions of SFAS 144, we determined that ITS became a discontinued operation in the fourth quarter of fiscal 2005. Consequently, we have segregated the net assets, operating results and cash flows of ITS from continuing operations on our balance sheet at July 31, 2005 and on our statements of operations and statements of cash flows for all periods prior to the sale. Revenue for ITS was $5.8 million and $20.2 million for the three and six months ended January 31, 2006. Income before income taxes for ITS was $3.3 million and $9.1 million for the same periods. We recorded a $34.3 million net of tax gain on the disposal of ITS in the six months ended January 31, 2006. Revenue for ITS was $14.4 million and $27.6 million for the three and six months ended January 31, 2005. Income before income taxes for ITS was $6.2 million and $11.1 million for the same periods.
		In December 2004 we sold our Intuit Public Sector Solutions (IPSS) business for approximately $11 million. In accordance with SFAS 144, we determined that IPSS became a long-lived asset held for sale and a discontinued operation in the first quarter of fiscal 2005. Consequently, we have segregated the operating results and cash flows of IPSS from continuing operations on our statements of operations and statements of cash flows for all periods prior to the sale. Also in accordance with SFAS 144, we discontinued the amortization of IPSS purchased intangible assets in the first quarter of fiscal 2005.
		Revenue for IPSS was $1.0 million and $3.8 million for the three and six months ended January 31, 2005. Loss before income taxes for IPSS was $0.3 million and $0.8 million for the same periods. We also recorded a $4.8 million net of tax loss on the disposal of IPSS in the six months ended January 31, 2005.
[C]		Prior to August 1, 2005, we accounted for our share-based employee compensation plans under the measurement and recognition provisions of Accounting Principles Board (APB) Opinion No. 25, “Accounting for Stock Issued to Employees.” In accordance with APB 25, we recorded no share-based compensation expense for stock options or purchases of common stock under our Employee Stock Purchase Plan in fiscal periods prior to that date. Effective August 1, 2005, we adopted the fair value recognition provisions of SFAS 123(R), “Share-Based Payment,” using the modified prospective transition method. Accordingly, we began recording compensation expense for stock options and purchases under our Employee Stock Purchase Plan on that date. Because we elected to use the modified prospective transition method, GAAP results for prior periods have not been restated. Share-based compensation expenses also include expenses for restricted stock and restricted stock units, which we recorded under GAAP accounting rules for all periods presented.

INTUIT INC.
ABOUT NON-GAAP FINANCIAL MEASURES

Table A2 contains non-GAAP financial measures. Tables B1 and B2 reconcile the non-GAAP financial measures in Table A2 to the most directly comparable financial measures prepared in accordance with Generally Accepted Accounting Principles (GAAP). Tables E1 and E2 reconcile the non-GAAP financial measures found in the accompanying document entitled “Intuit Facts” to the most directly comparable financial measures prepared in accordance with GAAP.

Non-GAAP financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. These non-GAAP financial measures do not reflect a comprehensive system of accounting, differ from GAAP measures with the same names and may differ from non-GAAP financial measures with the same or similar names that are used by other companies.

We believe that these non-GAAP financial measures provide meaningful supplemental information regarding Intuit’s operating results because they exclude amounts that we do not consider part of ongoing operating results when assessing the performance of the organization. We believe that our non-GAAP financial measures also facilitate the comparison of results for current periods and guidance for future periods with results for past periods. We exclude the following items from our non-GAAP financial measures:

	•		Share-based compensation expenses. Our non-GAAP financial measures exclude share-based compensation expenses, which consist primarily of expenses for stock options and purchases of common stock under our Employee Stock Purchase Plan that we began recording under SFAS 123(R) in the first quarter of fiscal 2006. Share-based compensation expenses also include expenses for restricted stock and restricted stock units, which we recorded under GAAP accounting rules for all periods presented. We exclude share-based compensation expenses from our non-GAAP financial measures primarily because they are non-cash expenses, which we do not consider part of ongoing operating results when assessing the performance of the organization, and the exclusion of these expenses facilitates the comparison of results for fiscal 2006 and guidance for future periods with results for prior periods, which did not include share-based compensation expenses for stock options and ESPP purchases. Beginning in the quarter ended January 31, 2006, we have begun excluding compensation expense related to restricted stock and restricted stock units from our non-GAAP results, consistent with our historical treatment of compensation expense related to employee stock options. All historical non-GAAP results and forward-looking guidance reflect this change. We compute weighted average dilutive shares using the method required by SFAS 123(R) for both GAAP and non-GAAP diluted net income per share.
	•		Amortization of purchased intangible assets, acquisition-related charges, charges for purchased research and development, and loss on impairment of goodwill and purchased intangible assets. In accordance with GAAP, amortization of purchased intangible assets in cost of revenue includes amortization of software and other technology assets related to acquisitions and acquisition-related charges in operating expenses includes amortization of other purchased intangible assets such as customer lists and covenants not to compete. GAAP operating income or loss also includes charges for in-process research and development that we obtain in connection with acquisitions as well as losses on impairment of goodwill and other purchased intangible assets. We exclude these items from our non-GAAP operating income or loss because we believe that excluding these items facilitates comparisons to our historical operating results and to the results of other companies in our industry, which have their own unique acquisition histories.
	•		Gains and losses on marketable equity securities and other investments. We exclude these amounts from our non-GAAP net income or loss because they are unrelated to our ongoing business operating results.
	•		Income taxes. Our historical non-GAAP effective tax rates differ from our GAAP effective tax rates for those periods because non-GAAP income tax expense or benefit excludes certain GAAP discrete tax items, including the reversal of reserves related to potential income tax exposures that have been resolved. We exclude the impact of these discrete tax items from our non-GAAP income tax provision or benefit because management believes that they are not indicative of our ongoing business operations.
	•		Operating results and gains and losses on the sale of discontinued operations. From time to time, we sell or otherwise dispose of selected operations as we adjust our portfolio of businesses to meet our strategic goals. In accordance with GAAP, we segregate the operating results of discontinued operations as well as gains and losses on the sale of these discontinued operations from continuing operations on our GAAP statements of operations but continue to include them in GAAP net income or loss and net income or loss per share. We exclude these amounts from our non-GAAP net income or loss and net income or loss per share because they are unrelated to our ongoing business operations.

We refer to these non-GAAP financial measures in assessing the performance of Intuit’s ongoing operations and for planning and forecasting in future periods. These non-GAAP financial measures also facilitate our internal comparisons to Intuit’s historical operating results. We have historically reported similar non-GAAP financial measures and believe that the inclusion of comparative numbers provides consistency in our financial reporting. We generally compute non-GAAP financial measures using the same consistent method from quarter to quarter and year to year.

The reconciliations of the forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures in Table E1 include all information reasonably available to Intuit at the date of this press release. These tables include adjustments that we can reasonably predict. Events that could cause the reconciliation to change include acquisitions and divestitures of businesses, goodwill and other asset impairments and sales of marketable equity securities.

Table A2
INTUIT INC.
NON-GAAP CONSOLIDATED STATEMENTS OF OPERATIONS DATA
(In thousands, except per share amounts)
(Unaudited)

		Three Months Ended								Six Months Ended
		January 31,				January 31,				January 31,				January 31,
		2006				2005				2006				2005
Net revenue:
Product		$	557,079			$	497,198			$	739,533			$	651,201
Service			166,917				135,410				271,537				219,567
Other			18,708				15,636				35,705				30,252
Total net revenue			742,704				648,244				1,046,775				901,020
Costs and expenses:
Cost of revenue:
Cost of product revenue			68,240				63,863				100,383				93,707
Cost of service revenue			56,775				47,458				109,534				87,210
Cost of other revenue			6,122				5,111				11,974				10,908
Selling and marketing			191,653				173,458				332,776				302,004
Research and development			95,400				76,946				187,070				151,311
General and administrative			58,223				54,799				114,236				102,815
Total costs and expenses			476,413				421,635				855,973				747,955
Income from operations			266,291				226,609				190,802				153,065
Interest and other income			5,322				2,982				11,626				6,837
Income before income taxes			271,613				229,591				202,428				159,902
Income tax provision			95,065				78,061				70,850				54,367
Net income		$	176,548			$	151,530			$	131,578			$	105,535
Basic net income per share		$	1.01			$	0.81			$	0.75			$	0.56
Shares used in basic per share amounts			175,146				186,331				176,276				187,339
Diluted net income per share		$	0.97			$	0.80			$	0.72			$	0.55
Shares used in diluted per share amounts			181,791				190,100				182,600				191,229

Table B1
INTUIT INC.
RECONCILIATION OF NON-GAAP STATEMENTS OF OPERATIONS DATA
TO GAAP CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(Unaudited)

		Three Months Ended												Three Months Ended
		January 31, 2006												January 31, 2005
		Non-												Non-
		GAAP				Adjmts				GAAP				GAAP				Adjmts				GAAP
Net revenue:
Product		$	557,079			$	—			$	557,079			$	497,198			$	—			$	497,198
Service			166,917				—				166,917				135,410				—				135,410
Other			18,708				—				18,708				15,636				—				15,636
Total net revenue			742,704				—				742,704				648,244				—				648,244
Costs and expenses:
Cost of revenue:
Cost of product revenue			68,240				245	[a]			68,485				63,863				—				63,863
Cost of service revenue			56,775				496	[a]			57,271				47,458				—				47,458
Cost of other revenue			6,122				—				6,122				5,111				—				5,111
Amortization of purchased intangible assets			—				2,763	[b]			2,763				—				2,626	[b]			2,626
Selling and marketing			191,653				5,250	[a]			196,903				173,458				—				173,458
Research and development			95,400				4,684	[a]			100,084				76,946				—				76,946
General and administrative			58,223				7,074	[a]			65,297				54,799				1,626	[a]			56,425
Acquisition-related charges			—				3,553	[c]			3,553				—				4,169	[c]			4,169
Total costs and expenses			476,413				24,065				500,478				421,635				8,421				430,056
Operating income from continuing operations			266,291				(24,065	)			242,226				226,609				(8,421	)			218,188
Interest and other income			5,322				—				5,322				2,982				—				2,982
Gains on marketable equity securities and other investments, net			—				3,027	[d]			3,027				—				60	[d]			60
Income from continuing operations before income taxes			271,613				(21,038	)			250,575				229,591				(8,361	)			221,230
Income tax provision			95,065				(1,713	)[e]			93,352				78,061				(1,805	)[e]			76,256
Net income from continuing operations			176,548				(19,325	)			157,223				151,530				(6,556	)			144,974
Net income from discontinued operations			—				27,726	[f]			27,726				—				2,278	[f]			2,278
Net income		$	176,548			$	8,401			$	184,949			$	151,530			$	(4,278	)		$	147,252
Basic net income per share from continuing operations		$	1.01							$	0.90			$	0.81							$	0.78
Basic net income per share from discontinued operations			—								0.16				—								0.01
Basic net income per share		$	1.01							$	1.06			$	0.81							$	0.79
Shares used in basic per share amounts			175,146								175,146				186,331								186,331
Diluted net income per share from continuing operations		$	0.97							$	0.87			$	0.80							$	0.76
Diluted net income per share from discontinued operations			—								0.15				—								0.01
Diluted net income per share		$	0.97							$	1.02			$	0.80							$	0.77
Shares used in diluted per share amounts			181,791								181,791				190,100								190,100

See “About Non-GAAP Financial Measures” immediately preceding Table A2 for more information on these non-GAAP adjustments.

[a]		Adjustment to exclude share-based compensation expense for stock options and purchases under our Employee Stock Purchase Plan that we began recording under SFAS 123(R) in the first quarter of fiscal 2006 and for restricted stock and restricted stock units from non-GAAP financial measures.
[b]		Adjustment to exclude amortization of purchased intangible assets from non-GAAP financial measures.
[c]		Adjustment to exclude acquisition-related charges from non-GAAP financial measures.
[d]		Adjustment to exclude net gains on marketable equity securities and other investments from non-GAAP financial measures.
[e]		Adjustment to reflect the tax effects of items [a] through [d] and to exclude certain GAAP discrete tax items.
[f]		Adjustment to exclude net income from discontinued operations from non-GAAP financial measures.

Table B2
INTUIT INC.
RECONCILIATION OF NON-GAAP STATEMENTS OF OPERATIONS DATA
TO GAAP CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
(Unaudited)

		Six Months Ended												Six Months Ended
		January 31, 2006												January 31, 2005
		Non-												Non-
		GAAP				Adjmts				GAAP				GAAP				Adjmts				GAAP
Net revenue:
Product		$	739,533			$	—			$	739,533			$	651,201			$	—			$	651,201
Service			271,537				—				271,537				219,567				—				219,567
Other			35,705				—				35,705				30,252				—				30,252
Total net revenue			1,046,775				—				1,046,775				901,020				—				901,020
Costs and expenses:
Cost of revenue:
Cost of product revenue			100,383				533	[a]			100,916				93,707				—				93,707
Cost of service revenue			109,534				1,133	[a]			110,667				87,210				—				87,210
Cost of other revenue			11,974				—				11,974				10,908				—				10,908
Amortization of purchased intangible assets			—				5,712	[b]			5,712				—				5,167	[b]			5,167
Selling and marketing			332,776				11,557	[a]			344,333				302,004				—				302,004
Research and development			187,070				10,294	[a]			197,364				151,311				—				151,311
General and administrative			114,236				14,656	[a]			128,892				102,815				3,251	[a]			106,066
Acquisition-related charges			—				7,312	[c]			7,312				—				8,610	[c]			8,610
Total costs and expenses			855,973				51,197				907,170				747,955				17,028				764,983
Operating income from continuing operations			190,802				(51,197	)			139,605				153,065				(17,028	)			136,037
Interest and other income			11,626				—				11,626				6,837				—				6,837
Gains on marketable equity securities and other investments, net			—				7,294	[d]			7,294				—				218	[d]			218
Income from continuing operations before income taxes			202,428				(43,903	)			158,525				159,902				(16,810	)			143,092
Income tax provision			70,850				(11,937	) [e]			58,913				54,367				(10,752	) [e]			43,615
Net income from continuing operations			131,578				(31,966	)			99,612				105,535				(6,058	)			99,477
Net income from discontinued operations			—				39,533	[f]			39,533				—				1,639	[f]			1,639
Net income		$	131,578			$	7,567			$	139,145			$	105,535			$	(4,419	)		$	101,116
Basic net income per share from continuing operations		$	0.75							$	0.57			$	0.56							$	0.53
Basic net income per share from discontinued operations			—								0.22				—								0.01
Basic net income per share		$	0.75							$	0.79			$	0.56							$	0.54
Shares used in basic per share amounts			176,276								176,276				187,339								187,339
Diluted net income per share from continuing operations		$	0.72							$	0.55			$	0.55							$	0.52
Diluted net income per share from discontinued operations			—								0.21				—								0.01
Diluted net income per share		$	0.72							$	0.76			$	0.55							$	0.53
Shares used in diluted per share amounts			182,600								182,600				191,229								191,229

     See “About Non-GAAP Financial Measures” immediately preceding Table A2 for more information on these non-GAAP adjustments.

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

		January 31,				July 31,
		2006				2005
ASSETS
Current assets:
Cash and cash equivalents		$	122,706			$	83,842
Investments			711,170				910,416
Accounts receivable, net			319,493				86,125
Deferred income taxes			50,940				54,854
Prepaid expenses and other current assets			87,846				99,275
Current assets of discontinued operations			—				21,989
Current assets before funds held for payroll customers			1,292,155				1,256,501
Funds held for payroll customers			424,008				357,838
Total current assets			1,716,163				1,614,339
Property and equipment, net			211,582				208,548
Goodwill, net			529,770				509,499
Purchased intangible assets, net			67,296				69,678
Long-term deferred income taxes			124,948				118,475
Loans to executive officers and other employees			8,865				9,245
Other assets			35,651				30,078
Long-term assets of discontinued operations			—				156,589
Total assets		$	2,694,275			$	2,716,451
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable		$	122,788			$	65,812
Accrued compensation and related liabilities			124,529				144,823
Deferred revenue			256,698				279,382
Income taxes payable			32,619				30,423
Other current liabilities			161,240				103,131
Current liabilities of discontinued operations			—				21,995
Current liabilities before payroll customer fund deposits			697,874				645,566
Payroll customer fund deposits			424,008				357,838
Total current liabilities			1,121,882				1,003,404
Long-term obligations			16,515				17,308
Long-term obligations of discontinued operations			—				240
Stockholders’ equity			1,555,878				1,695,499
Total liabilities and stockholders’ equity		$	2,694,275			$	2,716,451

Table D
INTUIT INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)

		Three Months Ended								Six Months Ended
		January 31,				January 31,				January 31,				January 31,
		2006				2005				2006				2005
Cash flows from operating activities:
Net income		$	184,949			$	147,252			$	139,145			$	101,116
Net income from discontinued operations			(27,726	)			(2,278	)			(39,533	)			(1,639	)
Net income from continuing operations			157,223				144,974				99,612				99,477
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:
Depreciation			22,616				23,320				45,761				44,730
Acquisition-related charges			3,553				4,169				7,312				8,610
Amortization of purchased intangible assets			2,763				2,626				5,712				5,167
Amortization of other purchased intangible assets			2,259				1,883				4,290				3,766
Share-based compensation — restricted stock			1,328				1,626				2,653				3,251
Share-based compensation — all other			16,421				—				35,520				—
Gain on disposal of property and equipment			(161	)			(8	)			(127	)			(134	)
Amortization of premiums and discounts on available-for-sale debt securities			972				2,280				2,066				5,746
Net realized loss on sales of available-for-sale debt securities			98				223				478				1,520
Net gains on marketable equity securities and other investments			(3,027	)			(60	)			(7,294	)			(218	)
Deferred income taxes			(4,128	)			11,190				(1,608	)			270
Tax benefit from employee stock options			14,108				3,896				15,691				9,049
(Gain) loss on foreign exchange transactions			121				(35	)			106				(362	)
Subtotal			214,146				196,084				210,172				180,872
Changes in operating assets and liabilities:
Accounts receivable			(245,772	)			(238,842	)			(232,851	)			(217,329	)
Prepaid expenses, taxes and other current assets			70,864				87,110				32,370				(9,279	)
Accounts payable			25,683				18,710				56,348				32,375
Accrued compensation and related liabilities			43,917				36,270				(20,482	)			(23,984	)
Deferred revenue			(17,825	)			34,847				(23,062	)			32,810
Income taxes payable			9,621				(31,546	)			(7,150	)			17,154
Other current liabilities			66,473				111,066				57,002				108,848
Total changes in operating assets and liabilities			(47,039	)			17,615				(137,825	)			(59,405	)
Net cash provided by operating activities of continuing operations			167,107				213,699				72,347				121,467
Net cash provided by operating activities of discontinued operations			3,109				6,537				14,090				11,383
Net cash provided by operating activities			170,216				220,236				86,437				132,850
Cash flows from investing activities:
Purchases of available-for-sale debt securities			(392,673	)			(675,876	)			(681,792	)			(1,343,060	)
Liquidation and maturity of available-for-sale debt securities			302,878				532,529				878,722				1,480,532
Proceeds from sale of marketable equity securities			4,235				—				4,235				—
Net change in funds held for payroll customers’ money market funds and other cash equivalents			(78,576	)			2,212				(66,170	)			(7,845	)
Purchases of property and equipment			(22,855	)			(13,163	)			(47,912	)			(37,560	)
Proceeds from sale of property			334				—				334				—
Change in other assets			(1,925	)			276				(6,379	)			(4,610	)
Net change in payroll customer funds deposits			78,576				(2,212	)			66,170				7,845
Acquisitions of businesses and intangible assets, net of cash acquired			(23,733	)			(4,156	)			(33,881	)			(4,156	)
Net cash provided by (used in) investing activities of continuing operations			(133,739	)			(160,390	)			113,327				91,146
Net proceeds from sales of discontinued operations			171,833				9,197				171,833				9,197
Net cash provided by (used in) investing activities			38,094				(151,193	)			285,160				100,343
Cash flows from financing activities:
Change in long-term obligations			(16	)			(717	)			(650	)			(1,341	)
Net proceeds from issuance of common stock under stock plans			126,083				29,412				147,551				60,370
Purchase of treasury stock			(300,181	)			(113,649	)			(494,981	)			(284,211	)
Excess tax benefit from employee stock options			12,446				—				13,385				—
Net cash used in financing activities			(161,668	)			(84,954	)			(334,695	)			(225,182	)
Effect of exchange rates on cash and cash equivalents			1,090				(13	)			1,962				864
Net increase (decrease) in cash and cash equivalents			47,732				(15,924	)			38,864				8,875
Cash and cash equivalents at beginning of period			74,974				50,791				83,842				25,992
Cash and cash equivalents at end of period		$	122,706			$	34,867			$	122,706			$	34,867

Table E1
INTUIT INC.
RECONCILIATION OF FORWARD-LOOKING GUIDANCE FOR NON-GAAP FINANCIAL MEASURES
TO PROJECTED GAAP REVENUE, OPERATING INCOME, AND EPS
(All Figures Except GAAP EPS Exclude Intuit Information Technology Solutions)
(In thousands, except per share amounts)
(Unaudited)

		Forward-Looking Guidance
		Non-GAAP												GAAP
		Range of Estimate												Range of Estimate
		From				To				Adjustments				From				To
Three Months Ending April 30, 2006
Revenue		$	860,000			$	880,000			$	—			$	860,000			$	880,000
Operating income			440,000				450,000				(24,100	) [a]			415,900				425,900
Diluted earnings per share		$	1.62			$	1.66			$	(0.08	) [b]		$	1.54			$	1.58
Shares			179,000				180,000				—				179,000				180,000
Three Months Ending July 31, 2006
Revenue		$	310,000			$	330,000			$	—			$	310,000			$	330,000
Diluted loss per share		$	(0.09	)		$	(0.07	)		$	(0.08	) [c]		$	(0.17	)		$	(0.15	)
Twelve Months Ending July 31, 2006
Revenue		$	2,220,000			$	2,260,000			$	—			$	2,220,000			$	2,260,000
Operating income			600,000				620,000				(99,000	) [d]			501,000				521,000
Diluted earnings per share		$	2.27			$	2.32			$	(0.11	) [e]		$	2.16			$	2.21
Shares			180,000				182,000				—				180,000				182,000

See “About Non-GAAP Financial Measures” immediately preceding Table A2 for more information on these non-GAAP adjustments.

TABLE E2
INTUIT INC.
RECONCILIATION OF HISTORICAL NON-GAAP FINANCIAL MEASURES
TO MOST DIRECTLY COMPARABLE GAAP FINANCIAL MEASURES
(In thousands, except per share amounts)
(Unaudited)

		Non-
		GAAP				Adjustments				GAAP
Three months ended October 31, 2004
Operating loss		$	(73,544	)		$	(8,607	) [a]		$	(82,151	)
Diluted loss per share		$	(0.24	)		$	—	[b]		$	(0.24	)
Three months ended January 31, 2005
Operating income		$	226,609			$	(8,421	) [c]		$	218,188
Diluted earnings per share		$	0.80			$	(0.03	) [d]		$	0.77
Three months ended April 30, 2005
Operating income		$	429,841			$	(7,627	) [e]		$	422,214
Diluted earnings per share		$	1.54			$	0.07	[f]		$	1.61
Three months ended July 31, 2005
Operating loss		$	(26,523	)		$	(7,630	) [g]		$	(34,153	)
Diluted loss per share		$	(0.08	)		$	(0.03	) [h]		$	(0.11	)
Twelve months ended July 31, 2005
Operating income		$	556,383			$	(32,285	) [i]		$	524,098
Diluted earnings per share		$	2.01			$	0.02	[j]		$	2.03
Three months ended October 31, 2005
Operating loss		$	(75,489	)		$	(27,132	) [k]		$	(102,621	)
Diluted loss per share		$	(0.25	)		$	(0.01	) [l]		$	(0.26	)
Three months ended January 31, 2006
Operating income		$	266,291			$	(24,065	) [m]		$	242,226
Diluted earnings per share		$	0.97			$	0.05	[n]		$	1.02
Six months ended January 31, 2006
Operating income		$	190,802			$	(51,197	) [o]		$	139,605
Diluted earnings per share		$	0.72			$	0.04	[p]		$	0.76

See “About Non-GAAP Financial Measures” immediately preceding Table A2 for more information on these non-GAAP adjustments.