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INCOME STATEMENT Statements of Income 2012 2011 2012 2011 Sales 225,545 $ 220,151 $ 442,758 $ 427,495 $ Cost of sales (140,838) (132,038) (280,056) (259,637) Gross profit 84,707 88,113 162,702 167,858 Selling and administrative expenses (59,420) (59,628) (118,490) (117,407) Operating profit 25,287 28,485 44,212 50,451 Investment income 1,243 498 2,844 1,649 Interest expense (2,727) (2,087) (5,284) (3,839) Other income (deductions) , net (638) (697) (1,153) (966) Income before income taxes 23,165 26,199 40,619 47,295 Income taxes (7,973) (9,080) (14,007) (16,653) Net income 15,192 17,119 26,612 30,642 Net (income) loss attributable to noncontrolling interests 66 (532) (69) (841) Net income attributable to Matthews' shareholders 15,258 $ 16,587 $ 26,543 $ 29,801 $ 0.54 $ 0.56 $ 0.93 $ 1.01 $ Segment Results Sales : 2012 2011 % Change 2012 2011 % Change Cemetery Products 53,575 $ 52,857 $ 1.4% 98,725 $ 103,370 $ -4.5% Funeral Home Products 61,767 67,391 -8.3% 120,338 129,048 -6.8% Cremation 11,098 8,294 33.8% 20,532 16,534 24.2% Graphics Imaging 64,839 64,834 0.0% 135,282 124,861 8.4% Marking Products 17,756 14,521 22.3% 34,139 27,442 24.4% Merchandising Solutions 16,510 12,254 34.7% 33,742 26,240 28.6% 225,545 $ 220,151 $ 2.5% 442,758 $ 427,495 $ 3.6% Operating Profit : Cemetery Products 10,165 $ 10,811 $ -6.0% 14,700 $ 20,937 $ -29.8% Funeral Home Products 7,327 9,547 -23.3% 13,815 15,918 -13.2% Cremation 1,232 515 139.1% 1,989 1,043 90.7% Graphics Imaging 3,731 5,907 -36.8% 8,712 9,625 -9.5% Marking Products 2,045 1,888 8.3% 3,413 2,914 17.1% Merchandising Solutions 787 (183) 531.1% 1,583 14 11425.6% 25,287 $ 28,485 $ -11.2% 44,212 $ 50,451 $ -12.4% Note 1: Effective October 1, 2011 the Company changed the name of its Bronze and Casket segments to the Cemetery Products and Funeral Home Products segments, respectively. Also effective October 1, 2011, the Company's cremation casket manufacturing operations, previously included in the Cremation segment, are included in the Funeral Home Products segment. Prior period financial information has been reclassified to reflect the current presentation. Note 2: Unusual items, by segment, in fiscal 2012 were as follows: 2nd Quarter Year-to-Date Cemetery Products 337 $ (457) $ Funeral Home Products (296) Graphics Imaging (1,057) (1,133) Operating Profit impact (720) $ (1,886) $ There were no unusual items in the comparable fiscal 2011 periods. Preliminary Financials March 31, 2012 (subject to change) (Dollars in thousands) Year-to-Date 2nd Quarter Year-to-Date Earnings per share 2nd Quarter

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Page 1: INCOME STATEMENT - MATWmatw.com/wp-content/uploads/2012/04/Preliminary-Financial-Data-Q2.… · INCOME STATEMENT Statements of Income 2012 2011 2012 2011 Sales $ 225,545 $ 220,151

INCOME STATEMENT

Statements of Income

2012 2011 2012 2011

Sales 225,545$ 220,151$ 442,758$ 427,495$

Cost of sales (140,838) (132,038) (280,056) (259,637)

Gross profit 84,707 88,113 162,702 167,858

Selling and administrative expenses (59,420) (59,628) (118,490) (117,407)

Operating profit 25,287 28,485 44,212 50,451

Investment income 1,243 498 2,844 1,649

Interest expense (2,727) (2,087) (5,284) (3,839)

Other income (deductions) , net (638) (697) (1,153) (966)

Income before income taxes 23,165 26,199 40,619 47,295

Income taxes (7,973) (9,080) (14,007) (16,653)

Net income 15,192 17,119 26,612 30,642

Net (income) loss attributable

to noncontrolling interests 66 (532) (69) (841)

Net income attributable to Matthews' shareholders 15,258$ 16,587$ 26,543$ 29,801$

0.54$ 0.56$ 0.93$ 1.01$

Segment Results

Sales: 2012 2011 % Change 2012 2011 % Change

Cemetery Products 53,575$ 52,857$ 1.4% 98,725$ 103,370$ -4.5%

Funeral Home Products 61,767 67,391 -8.3% 120,338 129,048 -6.8%

Cremation 11,098 8,294 33.8% 20,532 16,534 24.2%

Graphics Imaging 64,839 64,834 0.0% 135,282 124,861 8.4%

Marking Products 17,756 14,521 22.3% 34,139 27,442 24.4%

Merchandising Solutions 16,510 12,254 34.7% 33,742 26,240 28.6%

225,545$ 220,151$ 2.5% 442,758$ 427,495$ 3.6%

Operating Profit:

Cemetery Products 10,165$ 10,811$ -6.0% 14,700$ 20,937$ -29.8%

Funeral Home Products 7,327 9,547 -23.3% 13,815 15,918 -13.2%

Cremation 1,232 515 139.1% 1,989 1,043 90.7%

Graphics Imaging 3,731 5,907 -36.8% 8,712 9,625 -9.5%

Marking Products 2,045 1,888 8.3% 3,413 2,914 17.1%

Merchandising Solutions 787 (183) 531.1% 1,583 14 11425.6%

25,287$ 28,485$ -11.2% 44,212$ 50,451$ -12.4%

Note 1: Effective October 1, 2011 the Company changed the name of its Bronze and Casket segments to the Cemetery Products and

Funeral Home Products segments, respectively. Also effective October 1, 2011, the Company's cremation casket manufacturing

operations, previously included in the Cremation segment, are included in the Funeral Home Products segment. Prior period

financial information has been reclassified to reflect the current presentation.

Note 2: Unusual items, by segment, in fiscal 2012 were as follows:

2nd Quarter Year-to-Date

Cemetery Products 337$ (457)$

Funeral Home Products (296)

Graphics Imaging (1,057) (1,133)

Operating Profit impact (720)$ (1,886)$

There were no unusual items in the comparable fiscal 2011 periods.

Preliminary Financials

March 31, 2012

(subject to change)

(Dollars in thousands)

Year-to-Date

2nd Quarter Year-to-Date

Earnings per share

2nd Quarter

Page 2: INCOME STATEMENT - MATWmatw.com/wp-content/uploads/2012/04/Preliminary-Financial-Data-Q2.… · INCOME STATEMENT Statements of Income 2012 2011 2012 2011 Sales $ 225,545 $ 220,151

BALANCE SHEET

Cash & Investment Balance

3/31/12 9/30/11

73,080$ 76,767$

Accounts Receivable

3/31/12 9/30/11

166,613$ 164,738$

DSO 66.5 61.8

Inventory

3/31/12 9/30/11

128,164$ 125,567$

Current Ratio

3/31/12 9/30/11

2.3 2.3

Intangibles

3/31/12 9/30/11

Goodwill 468,769$ 465,003$

Other Intangibles 61,136 62,825

529,905$ 527,828$

Total Assets

3/31/12 9/30/11

1,107,543$ 1,097,455$

Debt

3/31/12 9/30/11

Current 21,874$ 18,014$

Long Term 295,808 299,170

317,682$ 317,184$

Total Equity

3/31/12 9/30/11

486,512$ 468,093$

CASH FLOW

Depreciation & Amortization

2012 2011 2012 2011

7,417$ 6,866$ 14,532$ 13,627$

Capital Expenditures

2012 2011 2012 2011

6,664$ 3,939$ 12,392$ 7,687$

Cash Flow from Operations

2012 2011 2012 2011

15,602$ 13,948$ 22,657$ 33,778$

2nd Quarter

2nd Quarter

Year-to-Date

Year-to-Date

2nd Quarter Year-to-Date