Casket Maker Hillenbrand Reports 4Q Profit Dip as Increase in Sales is Offset by Higher Costs
Casket manufacturer Hillenbrand Inc. said Wednesday that its fiscal first-quarter net income fell 8 percent as an increase in sales was offset by higher costs.
For the October-December period, Hillenbrand reported net income of $27.1 million, or 44 cents per share, compared with $29.5 million, or 48 cents per share, a year ago.
Revenue rose to $211 million from $161.5 million.
Hillenbrand said the drop in net income was due to business acquisition costs and certain non-operating costs.
Last April, Hillenbrand completed the acquisition of K-Tron International Inc., which manufactures industrial feeders and pneumatic conveying equipment. Hillenbrand also owns the Batesville Casket Co., which makes products for the funeral industry.
For the fiscal year ending Sept. 30, Hillenbrand said it expects revenue between $855 million and $875 million and adjusted earnings per share between $1.79 and $1.85.
Shares of the company, which is based in Batesville, Ind., rose 14 cents to close at $21.96 and fell 46 cents to $21.50 in after-hours trading.
For the full financial report please visit: http://ir.hillenbrandinc.com/releasedetail.cfm?ReleaseID=547209
Latest posts by CDFuneralNews (see all)
- Homesteaders: A Deep Dive | FUNERAL hustle 012 - September 14, 2017
- FrontRunner Professional Announces Ultimate ‘DIY’ Funeral Home Website Platform - September 14, 2017
- Matthews Aurora Funeral Solutions Shares Integration Update - September 14, 2017
You may be interested
Homesteaders: A Deep Dive | FUNERAL hustle 012CDFuneralNews - September 14, 2017
Ryan heads to Homesteaders Life Company HQ to discuss their future partnership with Homesteaders and why and how this partnership…
FrontRunner Professional Announces Ultimate ‘DIY’ Funeral Home Website PlatformCDFuneralNews - September 14, 2017
Today FrontRunner Professional announced the release of it’s brand new website platform, marking a major change for the entire death…
Matthews Aurora Funeral Solutions Shares Integration UpdateCDFuneralNews - September 14, 2017
PITTSBURGH, PA -- Matthews Aurora Funeral Solutions today announced an update of key activities for its ongoing integration of Aurora…