Navigation Links
Service Corporation International Updates Fourth Quarter 2008 Guidance

- Company intends to report final fourth quarter 2008 results and updated 2009 guidance on February 25, 2009

HOUSTON, Feb. 9 /PRNewswire-FirstCall/ -- Service Corporation International (NYSE: SCI), a leading provider of deathcare products and services, announced today that it anticipates fourth quarter of 2008 diluted earnings per share before special items to be in the range of $.07 to $.09. The Company applied its current estimate of 40% as an effective tax rate for the fourth quarter of 2008 in deriving its updated earnings outlook. The Company's year-end tax accrual is currently being reviewed as part of its normal year-end processes, and once finalized could change the quarterly tax rate used in the updated earnings outlook. Net cash provided by operating activities excluding special items is expected to be in the range of $20 to $30 million for the fourth quarter of 2008.

The updated guidance provided reflects economic and financial market challenges that were worse than the Company expected in November and December 2008, which contributed to weaker preneed cemetery sales and lower trust fund income. Based on these negative trends experienced in the fourth quarter of 2008, the Company is reviewing its outlook for 2009 and plans to report an update in its outlook for 2009 when reporting fourth quarter 2008 financial results on Wednesday, February 25, 2009, after the market closes. The Company also expects to host a conference call on the morning of February 26, 2009, at 10:00 a.m. Eastern Standard Time. A webcast of the call will be accessible via the investor relations section of SCI's website at The teleconference may also be accessed by dialing (617) 597-4027 in the U.S. The teleconference confirmation code is 51975612. A replay of the call will also be available.


Diluted earnings per share excluding special items is a non-GAAP financial measure. It excludes gains or losses associated with asset dispositions and gains or losses associated with the early extinguishment of debt. We normally reconcile this non-GAAP financial measure to diluted earnings per share; however, diluted earnings per share calculated in accordance with GAAP is not currently accessible on a forward-looking basis as we have not completed our year-end tax review which could result in potential tax adjustments to reserves, payments, credits or refunds.

Net cash provided by operating activities excluding special items is a non-GAAP financial measure. The reconciliation to anticipated net cash provided by operating activities for the fourth quarter of 2008 calculated in accordance with GAAP is as follows:

In millions

    Net cash provided by operating activities                     $108 - $118
    One-time federal cash tax refund                                    ($91)
    Rose Hills pension payment                                             $3
    Net cash provided by operating activities excluding
     special items                                                  $20 - $30

Cautionary Statement on Forward-Looking Statements

The statements in this press release that are not historical facts are forward-looking statements. These forward-looking statements have been made in reliance on the "safe harbor" protections provided under the Private Securities Litigation Reform Act of 1995. These statements may be accompanied by words such as "believe," "estimate," "plan", "project," "expect," "anticipate," or "predict," that convey the uncertainty of future events or outcomes. These statements are based on assumptions that we believe are reasonable; however, many important factors could cause our actual results in the future to differ materially from the forward-looking statements made herein and in any other documents or oral presentations made by, or on behalf of us.

For further information on these and other risks and uncertainties, see our Securities and Exchange Commission filings, including our 2007 Annual Report on Form 10-K. Copies of this document as well as other SEC filings can be obtained from our website at We assume no obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made by us, whether as a result of new information, future events or otherwise.

About Service Corporation International

Service Corporation International (NYSE: SCI), headquartered in Houston, Texas, is North America's leading provider of deathcare products and services. At December 31, 2008, we owned and operated more than 1,300 funeral homes and 350 cemeteries (of which over 200 are combination locations) in 43 states, eight Canadian provinces, the District of Columbia and Puerto Rico. Through our businesses, we market the Dignity Memorial(R) brand which offers assurance of quality, value, caring service, and exceptional customer satisfaction. For more information about Service Corporation International, please visit our website at For more information about Dignity Memorial(R), please visit

    For additional information, contact:

    Investors:  Debbie Young - Director / Investor Relations
    (713) 525-9088

    Media:  Lisa Marshall - Managing Director / Corporate Communications
    (713) 525-3066

SOURCE Service Corporation International
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Covance to Present at the 2009 UBS Global Healthcare Services Conference
2. Optimal Readings to Present at 2009 UBS Global Healthcare Services Conference
3. Providence Service Corporation Comments on Consent Solicitation by Avalon Correctional Services, Inc.
4. Brookdale to Present at UBS Global Healthcare Services Conference February 10
5. Medical Device Consultants, Inc. (MDCI) Announces Clinical Services Staff Promotions
6. Medical Marketing Firm Builds Service Provider and Medical Practice Bottom Lines
7. Resorb Networks, Inc Sells MyBlackBook Trademarks, Announces Sexual History Tracking Service's New Name, nOOkist™
8. Franklin & Seidelmann Expands into Critical Access Hospital Market Provides 24 x 7 Teleradiology Service for Three New Clients
9. Statement From Pew Health & Human Services Policy Program on the Introduction of the Delauro Food Safety Modernization Act
10. U.S. Preventive Medicine(R) Executives to Present at 2009 UBS Global Healthcare Services Conference
11. Pictures Say a Thousand Words... No American Should Lack Access to Affordable, Comprehensive Health Services
Post Your Comments:
(Date:11/28/2015)... ... ... Beginning November 30th at 6:00 a.m. EST until 11:59 p.m. EST, customers ... up to 20% off orders $80 or more to free gifts with purchases, there will ... As a competitive e-commerce website for skin care and cosmetic needs, customers will save on ...
(Date:11/27/2015)... (PRWEB) , ... November 27, 2015 , ... According to ... are not changing the way that they are handling security in light of the ... and security presence in an attempt to stop an attack from reaching U.S. soil. ...
(Date:11/27/2015)... , ... November 27, 2015 , ... Lizzie’s Lice Pickers ... company is offering customers 10% off of their purchase of lice treatment product. In ... full price. According to a company spokesperson. “Finding lice is a sure way to ...
(Date:11/27/2015)... Wilmington, DE (PRWEB) , ... November 27, 2015 ... ... a member of the well-respected Microsoft Dynamics SL User Group (MSDSLUG). Recognized as ... is an independent group of Microsoft Dynamics SL software users, partners, industry experts ...
(Date:11/27/2015)... ... November 27, 2015 , ... The men and ... nonprofit healthcare organizations in the country. They have overseen financial turnarounds, shown commitment ... advance the healthcare industry as a whole through their advocacy and professional efforts. ...
Breaking Medicine News(10 mins):
(Date:11/26/2015)... 26, 2015 Research and Markets ( ... Wound Care Market by Type (Dressings, Therapy Devices, Active ... Facility, Out-Patient Facility), and Geography - Global Forecast to ... --> --> The purpose of ... forecast of the global advanced wound care market. It ...
(Date:11/26/2015)... 26, 2015 ... adds "Global Repaglinide Industry 2015 ... on China Repaglinide Market, 2010-2019" reports ... and information to its online business ... . --> ...
(Date:11/26/2015)... 2015 Research and Markets ( ... "2016 Future Horizons and Growth Strategies in the ... Country Segment Forecasts, Competitive Intelligence, Emerging Opportunities" ... --> --> This new 247-page ... therapeutic drug monitoring market, including emerging tests, technologies, ...
Breaking Medicine Technology: