(Reuters) – Intuit Inc, the developer of tax-preparation software TurboTax, forecast a much bigger first-quarter loss, citing restructuring in its small business group unit. The Mountain View, California-based company earns most of its profit in its second and third quarters when people are more likely to buy its do-it-yourself tax preparation software in the lead up to tax season. Intuit said on Thursday its net loss widened to $39 million, or 14 cents per share, in the fourth quarter ended July 31, from $16 million, or 5 cents per share, a year earlier. Intuit’s shares were down 1.6 percent in extended trading after closing at $85.81 on the Nasdaq.
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