Carriage Services Announces First Quarter 20...( HOUSTON May 6 /- Carriage Services In...),Health

HOUSTON, May 6 /PRNewswire-FirstCall/ -- Carriage Services, Inc. (NYSE: CSV) today announced results for the first quarter ended March 31, 2009. Highlights from continuing operations for the first quarter of 2009 compared to the first quarter of 2008 were as follows:

First Quarter Selected Financial Results

(amounts in millions, except per share amounts)

                                    Q1       Q1
                                   2008     2009        Change
                                   ----     ----        ------
    Total Revenues                $47.1    $45.8        $(1.3)
    Consolidated EBITDA           $12.7    $11.4        $(1.3)
    Net Income                     $3.3     $2.4        $(0.9)
    Diluted Earnings per Share    $0.17    $0.13       $(0.04)

HIGHLIGHTS

Melvin C. Payne, Chairman and Chief Executive Officer, stated, "Considering that death rates in the first quarter were dramatically lower this year versus last and the economy was in deep distress, we had an excellent first quarter. Despite the tough comparison to last year's performance, we are particularly pleased that our first quarter 2009 revenues declined by only 2.8% and our EPS came in at $0.13 per share. Our Same Store Cemetery Revenue and Field EBITDA were both materially higher this year versus last, a testament to our sales leaders and teams executing well against a backdrop of high national unemployment and lower consumer confidence. In fact, I do not recall a quarter in which our people responded so well to external factors beyond their control, and even better, gathered performance momentum throughout the quarter.

"We also made significant sequential progress during the quarter on our three major initiatives for 2009, i.e. to better manage our expenses, imp
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