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UPDATE 1-Funeral-home operator Service Corp cuts Q4 outlook

Mon Feb 9, 2009 8:09am EST

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Feb 9 (Reuters) - Service Corp International (SCI.N), the No.1 U.S. funeral-home operator, cut its fourth-quarter profit outlook citing weaker cemetery sales.

The company, which withdrew its buyout offer for rival Stewart Enterprises Inc (STEI.O) last October on financing risks, said it is reviewing its 2009 forecast citing lackluster sales trends in the fourth quarter.

Excluding items, the company sees earnings of 7 cents a share to 9 cents a share in the fourth quarter, down from its prior outlook of 12 cents a share to 15 cents a share.

Analysts on average were expecting a profit of 12 cents a share on a similar basis, according to Reuters Estimates.

Houston-based Service's shares closed at $4.90 Friday on the New York Stock Exchange. (Reporting by Dhanya Skariachan in Bangalore; Editing by Jarshad Kakkrakandy)



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