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Carriage Services Announces Fourth Quarter 2008 Results
Date:2/26/2009

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  • Increase in Same Store Cemetery EBITDA with higher preneed sales and less 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 6-8% annually, including acquisitions
    
             Consolidated EBITDA growth of 9-11% annually, including acquisitions
    
             Consolidated EBITDA Margin range of 23-26%
    
             Growth internally funded without new debt or equity
    
    

    CONFERENCE CALL

    Carriage Services has scheduled a conference call for tomorrow, Friday, February 27, 2009 at 10:30 a.m. eastern time. To participate in the call, 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 March 6, 2009 and may be accessed by dialing 303-590-3000 and using pass code 11126225#. An audio archive will also be available on the company's website at www.carriageservices.com shortly after the call and will be accessible for approximately 90 days. For more information, please contact Karen Roan at DRG&E at 713-529-6600 or email kcroan@drg-e.com.

    Carriage Services is a leading provider of death care services and products. Carriage operates 136 funeral homes in 25 states and 32 cemeteries in 11 states.

    USE OF NON-GAAP FINANCIAL MEASURES

    This press release uses the following Non-GAAP financial measures "free cash flow and EBITDA". Both free
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    SOURCE Carriage Services, Inc.
    Copyright©2009 PR Newswire.
    All rights reserved

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