Service Corporation International Announces Third Quarter 2009 Financi...(ncial performance for the quarter was ve...),Health

Date:11/4/2009

ncial performance for the quarter was very encouraging, and continued the trend of strong financial results for the year, and I want to thank all of our associates for their efforts and hard work in achieving these results. We believe our proactive response to the challenging economic climate, which included realigning our cost structure to promote sustainable operating efficiency and investing in our sales production channel, has been validated by the results achieved, as operating income surpassed prior year results for the quarter. Moreover, our fundamentally sound business model and efficient cost structure will provide the basis for high margin growth as we expand the organization both organically and through acquisition."

"We recently announced the acquisition of Keystone North America Inc., the fifth largest provider of deathcare products and services in North America. The transaction is anticipated to close in the first quarter of 2010 and is expected to be immediately accretive to earnings and cash flow. Looking forward, we intend to continue to capitalize on our leading market position, utilizing our strength as the industry leader to make our business stronger and to enhance shareholder value."

REVIEW OF RESULTS FOR THIRD QUARTER 2009

Consolidated Segment Results

    (In millions, except funeral services performed
     and average revenue per funeral service)              Three Months Ended
                                                              September 30,
                                                              -------------
                                                             2009       2008
                                                             ----       ----
    Funeral
    -------
    Funeral atneed revenue                                 $211.7     $229.6
    Funeral recognized preneed revenue                       99.6      103.7
    Other
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SOURCE  Service Corporation International
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