A 17.5-percent increase in operating expenses coupled with a write-off of its online software drove net income down by 62 percent forNet income fell to $13.5 million for the most recently ended year, down from $35.6 million. Revenue rose to $162.2 million, up 2 percent from just under $160 million for 2014.
Liberty noted it prepared 2.2 million tax returns in the United States and Canada, an increase in Canada of 2.1 percent. The number of returns prepared by Liberty offices in the United States grew by .9 percent while the Canadian total increased by 9.3 percent over the prior tax season.
System-wide revenue in the United States grew by 4 percent.
In a prepared statement, CEO John Hewitt said the company did not realize the expected revenue growth from the Affordable Care Act and delays in the implementation of immigration reform also held down income. There were
licensed insurance agents were present in more than 1,000 offices
