Hillenbrand Sees Higher Profit, Lower Revenues in 4Q

November 30, 2009
Advertisement

imageThe growing popularity of cremation affected Hillenbrand Inc.?s fourth-quarter and full-year revenues, but the company posted a year-over-year profit.

The funeral services company reported fourth-quarter net income of $22.6 million, or 37 cents per share, compared to $19.2 million, or 31 cents per share in the year-ago quarter. Revenues fell to $153.1 million from $158.8 million. Analysts, on average, had expected earnings per share of 37 cents and revenues of $157 million.

The quarter included $104,000 in legal costs related to antitrust litigation, but no costs relating to the separation of the former Hillenbrand Industries into Hillenbrand Inc. and Hill-Rom (NYSE: HRC), which took place in 2008.

Advertisement

Lower costs for diesel fuel and other raw materials also affected the profit margin, Hillenbrand said in a news release.

?North American burials continued to decline in the fourth quarter, even as the number of deaths returned to a more normal seasonal level,? said Kenneth Camp, president and CEO, in the release. ?We believe the economic uncertainties have prompted some families to opt for cremation at a rate greater than we?ve seen in the past.?

For fiscal 2009, Hillenbrand posted net income of $102.3 million, or $1.66 per share, versus $93.2 million, or $1.49 per share in fiscal 2008. Revenues declined to $649.1 million from $678.1 million.

Hillenbrand said it expects 2010 revenues in the $630 million to $670 million range, and earnings per share of $1.40 to $1.67. It added that the forecast has a wider range than usual because of the divergent predictions about the severity of H1N1 and seasonal flu epidemics, as well as pneumonia.

Shares of Hillenbrand (NYSE: HI) opened at $19.95 Tuesday.

Batesville, Ind.-based Hillenbrand Inc. (NYSE: HI) manufactures and distributes caskets and funeral service products through its Batesville Casket Co. unit.

Source: Business First

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

Blog Archives Decedent’s Final Tweets… And They are Heartbreaking
Humor
10 views
Humor
10 views

Blog Archives Decedent’s Final Tweets… And They are Heartbreaking

Justin Crowe - January 16, 2018

The digital age has created some fascinating unprecedented scenarios concerning legacy. Facebook chronicles our lives, so when my kids are…

FBI Investigates Funeral Home Running “Remains Dealing” Side-Business
News
845 views
News
845 views

FBI Investigates Funeral Home Running “Remains Dealing” Side-Business

Justin Crowe - January 15, 2018

The Federal Bureau of Investigation is checking into Sunset Mesa Funeral Home in Montrose, CO, where owner Megan Hess is…

MAJOR Facebook News Feed Changes and What They Mean For Your Deathcare Business
Marketing
210 views
Marketing
210 views

MAJOR Facebook News Feed Changes and What They Mean For Your Deathcare Business

Ryan Thogmartin - January 15, 2018

Last week, Facebook made an announcement about MAJOR changes coming to the news feed algorithm. Watch this Facebook Live to learn how…

Comments