Arbor Memorial Services Inc. Announces Its Third Quarter Results



    TSX ABO.A and ABO.B

    TORONTO, Aug. 28 /CNW/ - Arbor Memorial Services Inc. announced today its
results for the three and nine months ended July 31, 2008.

    
                                      Three months ended   Nine months ended
                                             July 31            July 31
                                             ($000)              ($000)
                                          2008      2007      2008      2007
                                          ----      ----      ----      ----

    Revenue(1)                          62,020    57,100   177,307   171,217
    Earnings before interest expense
     and income taxes(1)                 9,070     7,195    27,936    28,198
    Net earnings                         5,735     4,222    17,574    16,585
    Earnings per share - basic
     and diluted ($)                      0.54      0.40      1.64      1.56

    (1) Reclassified to conform with current year's presentation for
        discontinued operations.
    

    Net earnings and earnings per share in the third quarter of 2008
increased by $1.5 million or 35.8% to $5.7 million and by $0.14 to $0.54 per
share respectively compared to the third quarter of 2007. The increase was
mainly due to the impact of higher revenue of $4.9 million or 8.6% and a
decrease in interest expense of $0.5 million or 30%.
    Net earnings and earnings per share in the first nine months of 2008
increased by $1.0 million or 6.0% to $17.6 million and by $0.08 to $1.64 per
share respectively compared to the first nine months of 2007. The increase was
mainly attributable to a decrease in interest expense of $1.1 million and a
decrease in income taxes of $0.4 million, which were partially offset by a
decrease in EBIT and lower earnings from discontinued operations.

    Arbor Memorial Services Inc. owns 41 cemeteries, 27 crematoria,
4 reception centres located on cemetery premises and 88 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

Organization Profile

Arbor Memorial Services Inc.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890