Jackson Hewitt Restates Statement of Cash Flows for Fiscal 2010

12 Aug, 2010 @ 05:17 pm EDT

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PARSIPPANY, N.J., Aug. 12 /PRNewswire-FirstCall/ -- Jackson Hewitt Tax Service Inc. ("Jackson Hewitt") (NYSE: JTX) filed a Form 10-K/A with the Securities and Exchange Commission ("SEC") today, for the purpose of correcting certain errors in its Consolidated Statement of Cash Flows for fiscal 2010, as originally presented in Jackson Hewitt's Annual Report on Form 10-K that was filed with the SEC on July 14, 2010. The aggregate amount of the reclassification of these errors within the Consolidated Statement of Cash Flows was $6.4 million, and there was no net change to the previously reported increase in cash and cash equivalents or the ending cash balance for the year. The effects of these errors are detailed in a Current Report on Form 8-K that is also being filed with the SEC today. There were no changes to Jackson Hewitt's Consolidated Statement of Operations, including net loss and loss per share, its Consolidated Balance Sheet or its compliance with the financial covenants contained in its recently amended Credit Agreement.

About Jackson Hewitt Tax Service Inc.

Jackson Hewitt Tax Service Inc. (NYSE: JTX), with more than 6,400 franchised and company-owned offices throughout the United States in the 2010 tax season, is an industry leader providing full service individual federal and state income tax return preparation. Most offices are independently owned and operated. Jackson Hewitt also offers Jackson Hewitt(® )Online, an online tax preparation product available at www.jacksonhewittonline.com. The company is based in Parsippany, New Jersey. More information may be obtained at www.jacksonhewitt.com. To locate the Jackson Hewitt Tax Service(® )office nearest to you, call 1-800-234-1040.


    Investor Relations and Media Relations Contact:
    -----------------------------------------------
    David G. Weselcouch
    Vice President, Treasury and Investor Relations
    973-630-0809

SOURCE Jackson Hewitt Tax Service Inc.

For more iinformation, go to www.prnewswire.com

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