Archive for the ‘service corporation international financial report’ Category

Service Corporation International Announces Aquisition of Palm Mortuary-YourFuneralGuy

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Service Corporation announced the acquisition of Palm Mortuary  in Las Vegas on Thursday, December 3rd 2009 in a PR-Web press release. This effectively gives Service Corporation International control of the Las Vegas Funeral Market.  This deal was approved by the Federal Trade Commission and the Attorney General of the State of Nevada.

#1 Funeral Corporation in the world purchases Palm Mortuary

#1 Funeral Corporation in the world purchases Palm Mortuary

Service Corporation International is the World’s largest provider of Funeral Services. It is known for its aggressive acquisitions in the Funeral Industry. It also is known for it’s high prices.  In 2009 it has been plagued with Scandal and had a disaster of a year financially in 2009.

To handle this SCI(NYSE:SCI) has resumed a strategy of cutting operating costs(quality of service decline) and acquiring new properties such as Palm Mortuary in Las Vegas.  This is not a good situation for the funeral consumer in Las Vegas. In the long run Consumers there will pay more and find it difficult to come in under the average cost of a funeral.

Funeral Industry|Funeral Blog by Your Funeral Guy.

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Sunday, December 6th, 2009

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Posted in SCI funeral, SCI funeral Home, Scandal 2009, service corporation international financial report | No Comments »

SCI Tries to fund Keystone purchase with note Offering-YourFuneralGuy

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The World’s largest funeral corporation is trying to fund its purchase of Keystone(5th largest funeral corp) by selling “Notes”. This tact used by Hollinger International led by Conrad Black(now in a Canadian prison) has led many a company to it’s demise. The fact that Service Corporation International, SCI, NYSE:SCI, is having trouble funding this purchase shows that the World’s Largest Funeral Corporation Deep Pockets are gone.

It also is another sign of Funeral Industry decline.

"HOUSTON, Nov. 5 /PRNewswire-FirstCall/ -- Service Corporation
International
(NYSE: SCI) ("SCI"), which owns and operates funeral service
locations and
cemeteries, announced today that it has priced an
underwritten public offering
of $150.0 million of senior notes due 2021,
which will bear interest at a rate
of 8.00% per annum.  The notes are being sold at
98.115% of par, which equates
to an effective yield to maturity of approximately 8.25%.
 SCI expects to
close the sale of the notes on November 10, 2009,
 subject to the satisfaction
of customary closing conditions.  

SCI intends to use the net proceeds from the offering,
together with available
cash, to fund SCI's acquisition of Keystone North America Inc.
The offering is
being made under SCI's existing shelf registration
statement previously filed
with the Securities and Exchange Commission ("SEC")."
via www.reuters.com

Funeral Industry|Funeral Blog by Your Funeral Guy

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Monday, November 9th, 2009

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Posted in SCI Financial Report, SCI funeral, funeral industry decline, funeral industry scandal, service corporation international financial report, traditional funeral industry | No Comments »

Funeral Industry Decline: Worlds Largest Funeral Corporation loses millions again-Your Funeral Guy

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If the Funeral Industry crashes will President Obama give a bailout? Probably not to Service Corporation International....Close ties to the Bush Administration.

If the Funeral Industry crashes ......

The funeral industry is in decline. This can be seen by the latest numbers from Service Corporation International, SCI, NYSE:SCI. Worlds Largest Funeral Corporation loses millions again.

Millions and tens of millions of Service Corporation loss in dollars , in almost every category. SCI showed profits in the third quarter  by laying people off
and not paying overtime.

Revenue loses total about 19 million.

Revenues decreased to $497.2 million from $516.4 million last year. Analysts expected revenue of $480.73 million for the quarter.

via www.rttnews.com

Funeral Industry|Funeral blog by Your Funeral  Guy

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Friday, November 6th, 2009

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Posted in SCI Financial Report, SCI cemetery, SCI funeral, SCI funeral Home, Scandal, Service Corporation Funeral Home, service corporation international financial report | No Comments »

Skeptics on Funeral | Cemetery Scandal-yourfuneralguy

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There are skeptics , naysayers on Funeral and Cemetery Scandal. I have been hearing from folks who are victims of the grave desecrations at Burr Oak Cemetery  But I am also hearing from people who just cannot believe that such scandals can occur.
I have had contact with many folks who have had problems(moved loved ones graves)  AT EDEN MEMORIAL PARK-and at Burr Oak Cemetery.

Therea re folks who believe Funeral annd cemetery Scandal does not exist

Therea re folks who believe Funeral annd cemetery Scandal does not exist

The Two companies involved here are Perpetua,  Inc and Service Corporation International-NYSE:SCI.

The Law Firm involved at Eden  Memorial Park is not a Jewish Law Firm but it is the firm that won the  38+million dollar settlement in Florida.


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Thursday, September 24th, 2009

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Posted in Burr Oak Cemetery Scandal Video, Burr Oak Cemetry Scandal Alsip, Cemetery Crime Scene, Cemetery Scandal, SCI, eden memorial park SCI, eden memorial park cemetery, eden memorial park scandal, service corporation international financial report | No Comments »

World’s Largest funeral Corporation (SCI) Continues downward-YourFuneralGuy

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Service Corporation Dignity Logo

Service Corporation Dignity Logo

“Service Corporation International Corporation The World’s Largest Funeral Corporation  income is down significantly. The downward trend  continues and is further indication of a funeral industry decline.  Their own press release points to large losses. The CEO however as always tries to put a positive spin on what some call a continual disaster.

If you view the numbers they are not good, NYSE: SCI is spinning this out to the end of the galaxy.

From the company press release:

Comparable funeral revenue:
Atneed revenue                        $218.1    $232.3     $(14.2) loss over last year
Recognized preneed revenue             101.5     109.1       (7.6) loss over last year
Other funeral revenue(1)                17.1      17.2       (0.1)

Total comparable funeral revenues        $336.7    $358.6     $(21.9) loss over last year.

But most notably deferred revenue losses are not reported in the Q2 Press Release as they were in the Q1 press release.

Cemetery losses are just as dramatic.

Snippet From: www.transworldnews.com

Service Corporation International (NYSE: SCI) reported Thursday that the company reported a loss in second quarter earnings

The company, which deals with funeral, crematory and cemetery services…….Net income of $23.1 million, or 9 cents per share, was down 26 percent from $31.4 million, or 12 cents per share in the same quarter last year.

Excluding restructuring and other charges and a gain on eliminating debt, net income was $30 million, or 12 cents per share, down from $36.4 million, or 14 cents per share, in the second quarter of 2008.

Revenue for the period ended June 30 was $513.9 million, down 6 percent from $548.8 million in the year-earlier period.”

Some would say the company is headed toward a  financial death.

FUNERAL INDUSTRY|FUNERAL BLOG by Your Funeral Guy.

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Monday, August 10th, 2009

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Posted in NYSE:SCI financials, SCI Financial Report, SCI funeral, SCI funeral Home, Uncategorized, service corporation international financial report | No Comments »

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