Service Corporation International Announces Fourth Quarter 2008 Financial Results and Comments on Outloo...($ (7.8) (3.3%) Recognized preneed...),Health

Date:2/25/2009

$ (7.8) (3.3%) Recognized preneed revenue 107.0 112.3 (5.3) (4.7%) Other revenue (1) 13.0 11.7 1.3 11.1% ------ ------ ------- ----- Total comparable funeral revenues $349.6 $361.4 $(11.8) (3.3%) Comparable gross profit $75.5 $72.4 $ 3.1 4.3% Comparable gross margin percentage 21.6% 20.0% Comparable funeral services performed: Preneed 22,920 22,606 314 1.4% Atneed 43,180 46,117 (2,937) (6.4%) ------ ------ ----- ---- Total 66,100 68,723 (2,623) (3.8%) Comparable average revenue per funeral service $5,092 $5,088 $ 4 0.1% Comparable preneed funeral production: Sales $93.8 $98.5 $ (4.7) (4.8%) Total preneed funeral contracts sold 16,292 18,297 (2,005) (11.0%) Average revenue per contract sold $5,757 $5,383 $374 6.9% (1) Other revenue consists primarily of General Agency (GA) revenues, which are commissions we receive from third-party insurance companies for life insurance policies or annuities sold to preneed customers for the purpose of funding preneed funeral arrangements.

• Comparable funeral services performed decreased 3.8% from the fourth quarter of 2007. We believe this is primarily due to a lower number of deaths in our relevant markets as we experienced a less pronounced impact from influenza.
• The average revenue per funeral service grew 0.1% over the prior year qu
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SOURCE Service Corporation International Copyright©2009 PR Newswire. All rights reserved

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