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
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