CARRIAGE SERVICES INC CSV Income Statement

Carriage services inc (CSV)

Income statement / Quarterly

Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Revenue:
Revenues
71,149	66,125	67,752	69,081	66,517	64,241	63,847	73,387	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Field costs and expenses:
Funeral
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	39,108	33,292	32,435
Cemetery
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,561	12,193	12,082
Total revenues
-	-	-	-	-	-	-	-	-	61,054	63,852	68,157	-	60,140	61,865	63,331	61,610	58,378	59,261	63,253	59,419	54,549	56,504	55,652	52,447	49,501	53,811	57,315	50,049	48,142	48,677	51,323	41,822	43,368	47,655	50,669	45,485	44,517
Cemetery property amortization
995	972	1,169	849	839	964	891	908	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Funeral
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	24,466	22,866	20,754
Cemetery
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,930	8,329	7,854
Field depreciation expense
-	3,106	3,059	3,085	-	3,047	3,013	2,865	-	3,601	3,647	3,471	-	3,452	3,571	3,336	3,220	3,019	2,993	2,802	2,801	2,654	2,675	2,415	2,929	2,080	2,694	2,476	2,173	2,275	2,336	2,158	2,029	2,013	2,280	2,144	2,184	2,127
Regional and unallocated funeral and cemetery costs
3,819	3,597	3,622	2,789	4,087	2,114	3,267	3,281	3,494	3,937	2,954	2,954	2,297	2,783	2,715	3,049	4,252	2,909	2,311	2,525	2,834	2,900	1,693	2,379	2,221	2,720	2,313	2,759	1,487	2,560	2,080	2,333	2,421	2,501	2,022	2,081	2,047	1,750
Other expenses
858	411	386	400	377	412	354	405	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total field costs and expenses
50,470	48,069	48,502	47,481	48,697	47,127	47,022	49,199	45,516	45,574	45,185	45,065	41,552	41,912	43,058	42,028	41,919	41,018	41,013	41,044	40,492	39,472	38,515	37,637	38,055	35,401	36,931	38,402	32,793	34,793	34,746	34,632	30,010	32,803	34,143	35,621	35,426	32,485
Gross profit
20,679	18,056	19,250	21,600	17,820	17,114	16,825	24,188	19,560	15,480	18,667	23,092	21,312	18,228	18,807	21,303	19,691	17,360	18,248	22,209	18,927	15,077	17,989	18,015	14,392	14,100	16,880	18,913	17,256	13,349	13,931	16,691	11,812	10,565	13,512	15,048	10,059	12,032
Corporate costs and expenses:
General, administrative and other
8,821	5,755	5,692	5,612	11,485	6,344	6,380	6,618	6,704	6,134	6,568	6,847	6,736	6,130	5,831	9,247	6,820	6,238	6,886	7,170	6,171	6,562	6,847	9,335	5,697	6,868	7,076	6,282	8,652	5,240	4,852	5,242	7,423	4,779	4,781	4,749	3,808	3,410
Home office depreciation and amortization
301	357	369	389	401	505	464	443	450	401	378	376	363	355	386	398	436	418	372	520	341	341	354	342	-114	851	372	347	253	212	256	253	263	255	242	253	-	-
Total corporate costs and expenses
9,122	6,112	6,061	6,001	11,886	6,849	6,844	7,061	7,154	6,535	6,946	7,223	7,099	6,485	6,217	9,645	7,256	6,656	7,258	7,690	6,512	6,903	7,201	9,677	5,583	7,719	7,448	6,629	8,905	5,452	5,108	5,495	7,686	5,034	5,023	5,002	-	-
Home office depreciation and amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	314	361
Total corporate costs and expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,122	3,771
Operating income
11,557	11,944	13,189	15,599	5,934	10,265	9,981	17,127	12,406	8,945	11,721	15,869	14,213	11,743	12,590	11,658	12,435	10,704	10,990	14,519	12,415	8,174	10,788	8,338	8,809	6,381	9,432	12,284	8,351	7,897	8,823	11,196	4,126	5,531	8,489	10,046	5,937	8,261
Interest expense
6,615	6,283	6,296	6,328	6,346	6,285	4,743	3,735	3,431	3,282	3,206	3,029	3,016	2,903	2,968	2,851	2,901	2,629	2,479	2,550	2,601	2,177	2,686	2,844	3,147	3,216	3,664	2,595	3,471	4,547	4,518	4,552	4,474	4,551	4,510	4,554	4,571	4,572
Accretion of discount on convertible subordinated notes
-	61	60	57	-	246	555	1,160	-	1,097	1,066	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on early extinguishment of debt, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	481	-	-	-	-
Loss on redemption of convertible junior subordinated debentures
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-3,779	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Loss on early extinguishment of debt and other costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-201	-	-	-	-
Other income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	358	29	-	-
Net loss on early extinguishment of debt
-	0	0	-	-	0	-936	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income and other, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	252
Total interest and other, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,444	-4,271	-4,152	-4,525	-4,570	-4,320
Accretion of discount on convertible subordinated notes
-	-	-	-	-	-	-	-	-	-	-	1,037	-	981	954	927	-	876	851	827	-	782	694	171	-	0	0	0	-	-	-	-	-	-	-	-	-	-
Loss on early extinguishment of debt
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-567	-	0	0	0	-	0	-1,042	-	-	0	0	0	-	-3,031	-	-	-	-	-	-	-	-
Other, net
-	-4,076	175	-13	-	-347	0	2	-	-6	0	3	-	-285	0	305	-	52	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-119	-	0	0	1,130	-	0	0	0	-	-	-	-	-	-	-	-	-	-
Income before income taxes
4,683	1,524	7,008	9,201	-1,102	3,387	3,747	12,234	8,967	4,560	7,449	11,806	8,381	7,574	8,668	7,618	8,656	7,251	7,660	11,023	8,446	5,215	6,366	2,674	5,743	3,165	5,768	9,689	5,843	319	4,305	6,644	-318	1,260	4,337	5,521	1,367	3,941
Provision for income taxes
1,845	930	2,043	2,577	331	1,028	1,030	3,365	3,574	1,824	2,980	4,722	3,137	3,030	3,468	3,047	-	-	3,103	4,605	3,079	2,390	2,483	1,043	1,516	1,257	2,192	4,280	2,246	129	1,845	2,574	88	510	1,756	2,236	508	1,642
Tax adjustment related to certain discrete items
-	17	103	99	-	159	-30	-487	-	-302	59	0	-	-1,139	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax adjustment related to certain discrete items
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,740	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Total benefit (provision) for income taxes
2,114	947	2,146	2,676	1,556	1,187	1,000	2,878	-13,694	1,522	3,039	4,722	-	1,891	3,468	-	-	-	-	-	-	650	-	-	-	1,257	-	-	-	-	-	-	-	-	-	-	-	-
Net income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,418	5,367	4,565	3,883	1,631	4,227	1,908	3,576	5,409	3,597	190	2,460	4,070	-406	750	2,581	3,285	-	-
Income from discontinued operations, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11	431	-637	587	-227	3,986	568	-151	78	416	203	389	705	42	20	1	-	-
Net income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,000	5,894	4,144	5,258	3,675	606	2,663	4,459	299	792	2,601	3,286	859	2,299
Income tax benefit related to state tax returns
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net provision for income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,807	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preferred stock dividend
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	4	4	3	3	4	2	5	3	4	4	3
Net income
-	577	4,862	6,525	-	2,200	2,747	9,356	-	3,038	4,410	7,084	-	5,683	5,200	4,571	-	4,444	4,557	-	-	4,996	3,246	2,218	4,000	5,894	4,144	5,254	3,671	603	2,660	4,455	297	787	2,598	3,282	855	2,296
Continuing operations (in dollars per Share)
-	0.03	0.27	0.36	-	0.11	0.15	0.58	-	0.18	0.26	0.42	-	0.34	0.31	0.27	-	0.24	0.25	0.35	0.29	0.25	0.21	0.09	0.23	0.10	0.20	0.30	0.20	0.01	0.14	0.22	-0.02	0.04	0.14	0.18	-	-
Discontinued operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.02	-0.03	0.03	-0.01	0.22	0.03	-0.01	0.01	0.02	0.01	0.02	-	0.00	0.00	-	-	-
Basic earnings per common share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.29	0.27	0.18	0.12	0.22	0.32	0.23	0.29	0.21	0.03	0.15	0.24	0.02	0.04	0.14	0.18	0.05	0.13
Continuing operations (in dollars per Share)
-	0.03	0.27	0.36	-	0.11	0.15	0.52	-	0.17	0.24	0.39	-	0.33	0.30	0.27	-	0.24	0.24	0.34	0.29	0.24	0.21	0.09	0.26	0.10	0.20	0.26	0.20	0.01	0.14	0.22	-0.02	0.04	0.14	0.18	-	-
Discontinued operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.01	0.02	-0.04	0.03	-0.06	0.22	0.03	-0.01	0.01	0.02	0.01	0.02	-	0.00	0.00	-	-	-
Diluted earnings per common share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.30	0.26	0.17	0.12	0.20	0.32	0.23	0.25	0.21	0.03	0.15	0.24	0.02	0.04	0.14	0.18	0.05	0.13
Dividends declared per share (in dollars per share)
0.07	0.07	0.07	0.07	0.07	0.07	0.07	0.07	0.07	0.05	0.05	0.05	0.05	0.05	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	-	0.02	0.02	-	-	-
Weighted average number of common and common equivalent shares outstanding:
Basic (in shares)
17,755	17,737	17,959	18,057	18,814	19,060	17,916	16,094	16,027	16,476	16,652	16,597	16,556	16,529	16,516	16,459	16,814	17,874	18,268	18,208	18,175	18,150	18,123	17,984	17,925	17,892	17,830	17,657	18,111	18,051	18,077	18,265	36,773	18,414	18	18,230	17,520	17,504
Diluted (in shares)
18,167	17,768	17,988	18,097	18,390	19,161	18,245	17,700	17,087	17,598	18,093	18,082	19,014	17,101	17,075	16,650	17,485	18,083	18,880	18,804	18,362	18,276	18,247	18,143	31,275	18,057	17,994	22,246	18,261	18,170	18,153	18,320	36,840	18,461	18	18,268	17,726	17,752
Service revenue
Revenues
37,110	34,133	34,659	36,652	34,944	33,003	31,972	38,685	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property and merchandise revenue
Revenues
29,056	28,002	28,877	28,579	27,512	27,026	27,531	30,184	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other revenue
Revenues
4,983	3,990	4,216	3,850	4,061	4,212	4,344	4,518	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Funeral
Revenues
-	51,517	52,507	56,163	-	49,843	48,532	58,594	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of operating
-	18,011	17,955	18,097	-	18,085	17,329	18,617	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating income
-	14,124	14,624	18,076	-	13,644	12,654	19,664	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income before income taxes
-	9,312	14,418	17,862	-	13,417	12,414	19,414	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cemetery
Revenues
-	14,608	15,245	12,918	-	14,398	15,315	14,793	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of operating
-	21,972	22,311	22,261	-	22,505	22,168	23,123	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating income
-	3,932	4,626	3,524	-	3,470	4,171	4,524	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income before income taxes
-	3,885	4,852	3,585	-	3,560	4,254	4,592	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-