UPDATE 2-Jackson Hewitt sees weak '09; seeks relief from lenders
* Sees 2009 adj EPS $1.00-$1.10
* Sees 2009 revenue $250 mln-$255 mln
* Seeks relief from banks regarding debt covenant
* Q3 adj profit tops estimates by a cent
* Q3 revenue lags Street view
(Adds details, conference call comments)
March 4 (Reuters) - Jackson Hewitt Tax Service Inc JTX.N forecast 2009 results well below market estimates and said it was seeking relief from lenders regarding its leverage ratio covenant, sending its shares down 5 percent.
The No. 2 U.S. tax preparer said in a conference call that its third-quarter leverage ratio was 3.1, versus the maximum allowable ratio under its credit agreement covenant of 3.5. It expects the ratio to go up in the fourth quarter.
However, due to an amendment of its credit agreement, the leverage ratio covenant for the period ending April 30 will be lowered to 3.15 from 3.5, the company said. Continuación...