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Batesville-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.
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