Arbor Memorial Services Inc. Announces Its Second Quarter Results



    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:

For further information: Brian D. Snowdon, President and Chief Executive
Officer; Laurel L. Ancheta, Vice-President and Chief Financial Officer, Phone:
(416) 763-4531

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Arbor Memorial Services Inc.

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