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Capital sales gross margin % 40.7% 42.1% 43.5%
Rental revenues gross margin % 52.6% 51.9% 53.0%
Total gross margin % 44.4% 45.0% 46.3%
Operating Expenses (1) 537 591 610
Operating Income (1) 133 143 169
Tax Rate (2) 27.3% 34.0% 34.0%
Income from Continuing Operations (1) $88 $88 $104
Earnings per share $1.07 $1.40 $1.64
Earnings per share -
Adjusted (1)(2)(3) $1.40 $1.40 $1.64
(1) 2008 adjusted results exclude from the applicable line items
special charges recognized in Q1 and Q4 2008, as well as one time
charges incurred in Q2 2008 for an equity award modification, debt
extinguishment, and other costs related to the spin-off of the funeral
services business. See Non-GAAP Financial Disclosures and
Reconciliations presented earlier.
(2) Tax rate includes all discrete period tax benefits recognized for
fiscal year 2008. 2009 tax rate does not reflect any future discrete
period tax items which may be recognized.
(3) Earnings per share - Adjusted in the above presentation for
fiscal 2008 have not been adjusted to remove the effects of discrete
period tax adjustments recognized in any of the periods presented.
Discrete period tax adjustments are routinely recognized throughout
any given year under a variety of circumstances and are highly
subjective in nature. For fiscal year 2008, discrete tax benefits
totaled $8.3 million ($0.13 per share), $7.8 million ($0.12 per share)
of which was recognized in the third fiscal quar
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