Carriage Services Announces First Quarter 20...(Overhead $22.0 - $...),Health

Date:5/6/2009

Overhead $22.0 - $23.0 Consolidated EBITDA $37.0 - $41.0 Consolidated EBITDA Margin 21.1% - 22.8% Interest $18.1 Depreciation & Amortization $11.0 Cash Taxes $1.0 Net Income $6.4 - $7.1 Diluted Earnings Per Share $0.36 - $0.40 Free Cash Flow $13.0 - $15.0

Consolidated EBITDA for this period is expected to increase relative to the full year of 2008 for the following reasons:

• Increase in Funeral Field EBITDA with better execution of the Standards Operating Model.
• Increase in Same Store Cemetery EBITDA with higher preneed sales and lower bad debt expense.
• Higher cemetery financial revenue.
• Tighter management of overhead expenses.
• Lower special charges due primarily to elimination of most litigation.

             Long Term Outlook - Through 2013 (Base Year 2008)

       Revenue growth of 6-7% annually, including acquisitions

       Consolidated EBITDA growth of 9-11% annually, including acquisitions

       Consolidated EBITDA Margin range of 22-26%

       Delever the Company through increasing cash flow and earnings

CONFERENCE CALL

Carriage Services has scheduled a conference call for tomorrow, Thursday, May 7, 2009 at 10:30 a.m. eastern time. To participate in the call, please dial 303-262-2130 at least ten minutes before the conference call begins and ask for the Carriage Services conference call. A telephonic replay of the conference call will be available through May 14, 2009 and may be accessed by dialing 303-590-3000 and using pass code 11129295#. An audio archive will also be available on
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SOURCE Carriage Services, Inc. Copyright©2009 PR Newswire. All rights reserved

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