TSX ABO.A and ABO.B
TORONTO, June 3 /CNW/ - Arbor Memorial Services Inc. announced today its
results for the three and six months ended April 30, 2008.Three months ended Six months ended
April 30 April 30
($000) ($000)
2008 2007 2008 2007
---- ---- ---- ----
Revenue(1) 58,418 59,275 115,287 114,117
Earnings before interest
expense and income taxes(1) 9,879 11,534 18,866 21,003
Net earnings 6,411 6,952 11,839 12,363
Earnings per share - basic and
diluted ($) 0.60 0.66 1.11 1.17
(1) Reclassified to conform with current year's presentation for
discontinued operations.Net earnings and earnings per share in the second quarter of 2008
decreased by $0.5 million or 7.8% to $6.4 million and by $0.06 to $0.60 per
share respectively compared to the second quarter of 2007. Net earnings and
earnings per share in the first six months of 2008 decreased by $0.5 million
or 4.2% to $11.8 million and by $0.06 to $1.11 per share respectively compared
to the first six months of 2007. While net earnings for the first six months
ended April 30, 2008 decreased by $0.5 million from 2007, net earnings in 2007
increased by $1.5 million or 14.0% over 2006, mainly due to an increase in
funeral sales of 12.5%.
Arbor Memorial Services Inc. owns 41 cemeteries, 27 crematoria, 4
reception centres located on cemetery premises and 90 funeral homes in eight
provinces of Canada.
%SEDAR: 00007478E
For further information: Brian D. Snowdon, President and Chief Executive
Officer; Laurel L. Ancheta, Vice-President and Chief Financial Officer, Phone:
(416) 763-4531
