H&R Block Inc. on Thursday said its fiscal first-quarter loss narrowed by 2 percent as it reduced staffing and other expenses.

The Kansas City, Mo.-based tax preparer posted a net loss of $130.7 million, or 41 cents per share for the three months ended July 31, compared with a loss of $133.6 million, or 40 cents per share, last year.

Adjusted for $21.2 million in charges related to closing 400 offices and eliminating 400 jobs, the company says its loss was 36 cents per share.

The number of outstanding shares was reduced by 4 percent through company repurchases, which had the effect of increasing the loss per share for the recent quarter.

Revenue slipped slightly to $274.5 million, from $275.5 million last year.

Analysts polled by Thomson Reuters, on average, expected an adjusted loss of 41 cents per share, on $265.1 million revenue. Analysts usually exclude one-time charges from their estimates.

The nation's largest tax preparer typically sees losses in its first two fiscal quarters outside the normal tax season.

"Our first quarter results demonstrate the progress we have made in reducing embedded costs, and we believe we can achieve more in this area," said Alan Bennett, who took over as president and CEO in July after the sudden departure of Russ Smyth.

Revenue in its tax services division rose 4.2 percent to $91.6 million. Block's RSM McGladrey consulting unit saw a 1.6 percent revenue decline, to $174.7 million.

Operating expenses dropped by 1 percent to $485 million for the quarter.

In aftermarket electronic trading, H&R Block shares gained 53 cents, or 4.2 percent, to $13.10. They closed the regular session down 37 cents, or 2.9 percent at $12.57. The stock hit a 52-week intraday low during the trading day of $12.51.