Carriage Services Announces First Quarter 20...((0.1) Cash used for growt Out...),Health

Date:5/6/2009

(0.1) Cash used for growth capital expenditures - cemeteries (1.0) Share repurchase program (0.7) Other financing activities 0.7 --- Cash at March 31, 2009 $2.7 ====

Outlook

The Four Quarter Outlook ranges for the rolling four quarter period ending March 31, 2010 are intended to approximate what the Company believes will be the sustainable earning power of its portfolio of deathcare assets over the next four quarters as our three models are effectively executed. Performance drivers include funeral contract volumes, cremation mix, preneed sales, preneed maturities and deliveries, average revenue per service and sale and overhead items. Other variables include the effective tax rate, which is currently estimated to be in the range of 39% to 42% and the estimated number of diluted shares outstanding which is currently estimated to be approximately 17 million and is subject to changes in the share price and activity in the share repurchase plan. Though we expect to acquire businesses in the future, we have not forecast any acquisitions in the Four Quarter Outlook ending March 31, 2010, because of the uncertainty as to the timing and size of acquisitions.

ROLLING FOUR QUARTER OUTLOOK - Period Ending March 31, 2010

(amounts in millions, except per share amounts)

                                             Range
                                             -----
    Revenues                            $175.0 - $180.0
    Field EBITDA                         $59.5 - $63.0
    Field EBITDA Margin                  34.0% - 35.0%
    Total 
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SOURCE  Carriage Services, Inc.
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