Stewart Enterprises Reports Results for the Third Fiscal Quarter of 2009

September 11, 2009
Advertisement

Stewart Enterprises, Inc.

(Nasdaq:STEI) reported today its results for the fiscal quarter ended July 31,

2009. The Company reported net earnings for the quarter ended July 31, 2009 of

$10.8 million, or $.12 per diluted share, compared to net earnings of $9.1

Advertisement

million, or $.10 per diluted share, for the quarter ended July 31, 2008.

The results for the quarter included an $8.5 million net gain on early

extinguishment of debt ($5.4 million after tax, or $.06 per diluted share)

related to the Company’s purchase of $35.7 million aggregate principal amount of

its senior convertible notes in the open market during the quarter. After

adjusting net earnings for the note purchases and several other unusual items in

the third quarter of 2009, the Company reported adjusted earnings of $4.3

million, or $.05 per diluted share, for the quarter ended July 31, 2009,

compared to adjusted earnings of $9.3 million, or $.10 per diluted share, for

the quarter ended July 31, 2008. See table under “Reconciliation of Non-GAAP

Financial Measures” for further information on adjusted diluted earnings per

share, adjusted net earnings and free cash flow.

Thomas J. Crawford, President and Chief Executive Officer, stated, “While we

can’t control the economy or the number of deaths in our markets, we can control

our costs, continue to prudently invest for the long-term and take strong

actions to effectively manage our cash, liquidity and tax planning strategies.

We have done that in the third quarter and increased both our earnings and cash

flow over the prior year. Some of the highlights for the quarter include:

Read Full Article Here

CDFuneralNews

CDFuneralNews

ConnectingDirectors.com is the leading online daily publication for funeral professionals with a reader base of over 45,000 of the most elite and forward-thinking professionals in the profession. With ConnectingDirectors.com we have created a global community through an online platform allowing funeral professionals to Stay Current. Stay Informed and Stay Elite.
CDFuneralNews
Advertisement

You may be interested

4 Products Beating the Funeral Merchandise Quality Epidemic
Cremation
460 views
Cremation
460 views

4 Products Beating the Funeral Merchandise Quality Epidemic

Justin Crowe - November 15, 2017

Since entering the funeral industry, I have felt a taboo around talking about the topic of quality in relation to…

ASD’s Suicide Telephone Operator Patch (S.T.O.P) System Recognized With 2017 NFDA Innovation Award
Funeral Industry Press Releases
37 views
Funeral Industry Press Releases
37 views

ASD’s Suicide Telephone Operator Patch (S.T.O.P) System Recognized With 2017 NFDA Innovation Award

CDFuneralNews - November 15, 2017

Boston, MA—On Monday, October 29, ASD – Answering Service for Directors was named the winner of the National Funeral Directors…

Passare Releases Advanced Preneed Integration with Funeral Directors Life
Funeral Industry Press Releases
43 views
Funeral Industry Press Releases
43 views

Passare Releases Advanced Preneed Integration with Funeral Directors Life

CDFuneralNews - November 15, 2017

Passare, Inc. recently released an advanced integration with Funeral Directors Life Insurance Company, offering the funeral industry’s only integration between…

Comments