Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowBatesville-based Hillenbrand Inc., which provides caskets and other products to the funeral industry, today said its fiscal second-quarter profit rose 19 percent compared with the same period a year ago.
For the period ending March 31, Hillenbrand earned $27.8 million, or 45 cents per share, meeting analysts’ expectations. Profit a year ago was $23.3 million, or 37 cents per share.
Second-quarter profit a year ago was weighed down by costs related to the spinoff of hospital equipment division Hill-Rom Holdings Inc. into a separate public company. Excluding spinoff costs, profit in the 2008 quarter was $34.5 million.
Revenue dipped 11 percent during the latest quarter, to $170.8 million, from $191.4 million a year ago.
Casket sales were lower because of a mild influenza and pneumonia season, in addition to a higher number of cremations. The company said the increase may stem from the weak economy.
Please enable JavaScript to view this content.