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Hillenbrand, Inc. Reports Fourth-Quarter Revenue of $159 Million and Earnings Per Share of $0.31
Date:11/25/2008

BATESVILLE, Ind., Nov. 25 /PRNewswire-FirstCall/ -- Hillenbrand, Inc. (NYSE: HI) reported fourth-quarter 2008 revenue of $158.8 million, consistent with $158.2 million reported in the fourth quarter of 2007. In addition, the company reported fully diluted earnings per share of $0.31 for the quarter, representing growth of 3 percent over the same period in the prior year.

Revenue for the quarter remained essentially flat, as a general decline in burials and a lower average product mix were positively offset by favorable price realization and foreign exchange rates.

A gross profit of 40.3 percent in the quarter improved 50 basis points, as substantial increases in fuel and commodity prices were offset by productivity cost improvements and improved material recovery. Fourth-quarter total operating expenses were favorable by 6.8 percent to the prior year, primarily due to $1.6 million of expenses in 2007 related to a terminated acquisition. Included in fourth-quarter operating expenses were $.5 million of legal costs related to anti-trust litigation and $1.4 million of separation costs, compared to $1.8 million and $5.1 million respectively in the prior year.

Other income and expense was $1.2 million in the quarter versus $0.4 million in the prior year due to interest income from investments transferred to us earlier in the year by our former parent, offset in part by borrowing costs.

The company's effective tax rate for the quarter was 42.7 percent versus 36.5 percent in the same period in 2007. The increase over the prior-year quarter was due to limitations placed on the Section 199 Domestic Production Activities Deduction by the separation transaction. The separation will not affect the deductibility of these costs in future years.

Net income for the quarter was $19.2 million, or $0.
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SOURCE Hillenbrand, Inc.
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