XML 76 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Segment Reporting Information [Line Items]        
Total revenues $ 54,549 $ 49,501 $ 166,705 $ 160,435
Field costs and expenses:        
Depreciation and amortization 2,654 2,080 7,744 7,242
Regional and unallocated funeral and cemetery costs 2,900 2,720 6,972 7,792
Total field costs and expenses 39,472 35,401 115,624 110,550
Gross profit 15,077 14,100 51,081 49,885
Corporate costs and expenses:        
General and administrative costs and expenses 6,562 6,868 22,744 20,226
Home office depreciation and amortization 341 851 1,037 1,570
Total corporate costs and expenses 6,903 7,719 23,781 21,796
Operating income 8,174 6,381 27,300 28,089
Interest expense (2,177) (3,216) (7,707) (9,475)
Amortization of Debt Discount (Premium) (782) 0 (1,647) 0
Loss on early extinguishment of debt 0 0 (1,042) 0
Loss on redemption of convertible junior subordinated debentures 0 0 (3,779) 0
Other Income 0 0 1,130 0
Income from continuing operations before income taxes 5,215 3,165 14,255 18,614
Provision for income taxes (2,390) (1,257) (5,915) (7,726)
Income tax benefit related to uncertain tax positions 1,740 0 1,740 0
Net provision for income taxes (650) (1,257) (4,175) (7,726)
Net income from continuing operations 4,565 1,908 10,080 10,888
Income from discontinued operations, net of tax 431 3,986 381 4,408
Net income 4,996 5,894 10,461 15,296
Preferred stock dividend 0 0 0 (4)
Net income available to common stockholders 4,996 5,894 10,461 15,292
Basic earnings per common share:        
Continuing operations (in dollars per Share) $ 0.25 $ 0.10 $ 0.55 $ 0.60
Discontinued operations (in dollars per Share) $ 0.02 $ 0.22 $ 0.02 $ 0.24
Basic earnings per common share (in dollars per Share) $ 0.27 $ 0.32 $ 0.57 $ 0.84
Diluted earnings per common share:        
Continuing operations (in dollars per Share) $ 0.24 $ 0.10 $ 0.54 $ 0.59
Discontinued operations (in dollars per Share) $ 0.02 $ 0.22 $ 0.02 $ 0.19
Diluted earnings per common share (in dollars per Share) $ 0.26 $ 0.32 $ 0.56 $ 0.78
Dividends declared per common share (in dollars per Share) $ 0.025 $ 0.025 $ 0.075 $ 0.075
Weighted average number of common and common equivalent shares outstanding:        
Basic (in Shares) 18,150 17,892 18,086 17,794
Diluted (in Shares) 18,276 18,057 18,223 22,361
Funeral [Member]
       
Segment Reporting Information [Line Items]        
Total revenues 41,770 37,132 127,926 122,427
Field costs and expenses:        
Total field costs and expenses 25,930 23,244 77,906 73,707
Corporate costs and expenses:        
Income from continuing operations before income taxes     39,025 37,329
Cemetery [Member]
       
Segment Reporting Information [Line Items]        
Total revenues 12,779 12,369 38,779 38,008
Field costs and expenses:        
Total field costs and expenses 7,988 7,357 23,002 21,809
Corporate costs and expenses:        
Income from continuing operations before income taxes     $ 10,959 $ 11,513