CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands |
3 Months Ended |
Mar. 31, 2019 |
Mar. 31, 2018 |
| Segment Reporting Information [Line Items] |
|
|
| Revenues |
$ 69,081
|
$ 73,387
|
| Field costs and expenses: |
|
|
| Cemetery property amortization |
849
|
908
|
| Field depreciation expense |
3,085
|
2,865
|
| Regional and unallocated funeral and cemetery costs |
2,789
|
3,281
|
| Other expenses |
400
|
405
|
| Total field costs and expenses |
47,481
|
49,199
|
| Gross profit |
21,600
|
24,188
|
| Corporate costs and expenses: |
|
|
| General, administrative and other |
5,612
|
6,618
|
| Home office depreciation and amortization |
389
|
443
|
| Total corporate costs and expenses |
6,001
|
7,061
|
| Operating income |
15,599
|
17,127
|
| Interest expense |
(6,328)
|
(3,735)
|
| Accretion of discount on convertible subordinated notes |
57
|
1,160
|
| Other, net |
(13)
|
2
|
| Income before income taxes |
9,201
|
12,234
|
| Provision for income taxes |
(2,577)
|
(3,365)
|
| Tax adjustment related to certain discrete items |
(99)
|
487
|
| Total provision for income taxes |
(2,676)
|
(2,878)
|
| Net income |
$ 6,525
|
$ 9,356
|
| Basic earnings per common share: |
|
|
| Continuing operations (in dollars per Share) |
$ 0.36
|
$ 0.58
|
| Continuing operations (in dollars per Share) |
0.36
|
0.52
|
| Dividends declared per common share (in dollars per Share) |
$ 0.075
|
$ 0.075
|
| Weighted average number of common and common equivalent shares outstanding: |
|
|
| Basic (in Shares) |
18,057
|
16,094
|
| Diluted (in Shares) |
18,097
|
17,700
|
| Funeral |
|
|
| Segment Reporting Information [Line Items] |
|
|
| Revenues |
$ 56,163
|
$ 58,594
|
| Field costs and expenses: |
|
|
| Cost of operating |
18,097
|
18,617
|
| Corporate costs and expenses: |
|
|
| Operating income |
18,076
|
19,664
|
| Income before income taxes |
17,862
|
19,414
|
| Cemetery |
|
|
| Segment Reporting Information [Line Items] |
|
|
| Revenues |
12,918
|
14,793
|
| Field costs and expenses: |
|
|
| Cost of operating |
22,261
|
23,123
|
| Corporate costs and expenses: |
|
|
| Operating income |
3,524
|
4,524
|
| Income before income taxes |
3,585
|
4,592
|
| Service Revenue [Member] |
|
|
| Segment Reporting Information [Line Items] |
|
|
| Revenues |
36,652
|
38,685
|
| Property and Merchandise [Member] |
|
|
| Segment Reporting Information [Line Items] |
|
|
| Revenues |
28,579
|
30,184
|
| Other revenue |
|
|
| Segment Reporting Information [Line Items] |
|
|
| Revenues |
3,850
|
4,518
|
| Other revenue | Funeral |
|
|
| Segment Reporting Information [Line Items] |
|
|
| Revenues |
2,221
|
2,312
|
| Other revenue | Cemetery |
|
|
| Segment Reporting Information [Line Items] |
|
|
| Revenues |
$ 1,629
|
$ 2,206
|