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Stewart Enterprises 2nd-quarter Profit Falls

Stock quotes in this article: STEI  

NEW ORLEANS (AP) — Funeral services provider Stewart Enterprises Inc. said Tuesday its fiscal second-quarter profit fell 5 percent amid the recession, but results beat analyst expectations.

Profit for the quarter ended April 30 slipped to $13.2 million, or 14 cents per share, from $13.9 million, or 15 cents per share last year. Excluding a gain on early debt repayment, hurricane-related charges and other one-time items, net income totaled 11 cents per share.

Analysts polled by Thomson Reuters, on average, predicted a profit of 8 cents per share. ...

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