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Service Corporation International Announces Conference Call for 1999 Fourth Quarter Results and Year 2000 Guidance
HOUSTON, Feb. 2 /PRNewswire/ -- Service Corporation International (NYSE: SRV), the world's largest funeral and cemetery company, announced today the Company will conduct a conference call on Thursday, February 10, 2000, to discuss 1999 fourth quarter results and guidance for 2000. The conference call will be conducted at 2:00 p.m. Eastern Time and will include a question and answer session following the presentation.
Commenting on the industry, SCI Chairman and Chief Executive Officer, Robert L. Waltrip, said: "There continues to be much speculation regarding trends in our industry. We believe our industry is basic and sound and will offer our Company more opportunity in years 2000 and 2001 than it did in 1999."
Commenting on the conference call, SCI Chief Financial Officer, Jeffrey E. Curtiss, said: "Our 1999 audit is currently being finalized and fourth quarter results and 2000 guidance will be discussed in detail on the above conference call. We firmly believe the initiatives we have put into place will not only allow us to meet all of our current obligations, but will enable us to increase cash flow and to pay down debt."
The teleconference call-in number is (800) 314-7867. If you would like to participate, please call this number fifteen minutes prior to the start time. If you are calling from outside the United States, the dial in number is (719) 457-2661.
If you are unable to dial into the conference call at the scheduled time, we have arranged a replay that can be accessed by dialing (719) 457-0820 / Confirmation Code #883421. A rapid replay will be available shortly after the teleconference commences.
Live Via Internet
Interested parties will also have the opportunity to listen to the live conference call via the Internet through PRNewswire at http://www.videonewswire.com/SERVICE/021000/. To listen to the live call, please go to the website at least twenty minutes prior to the start time to register, download and install any necessary audio software. For those who cannot listen to the live broadcast, a replay will be available at this website shortly following the live conference call.
Cautionary Statement on Forward-Looking Statements
The statements contained in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be accompanied by words such as "believe," "estimate," "project," "expect," "anticipate," or "predict," that convey the uncertainty of future events or outcomes. These statements are based on assumptions that the Company believes are reasonable; however, many important factors could cause the Company's actual results in the future to differ materially from the forward-looking statements made herein and in any other documents or oral presentations made by, or on behalf of, the Company. Important factors, which could cause actual results to differ materially from those in forward-looking statements, include, among others, the following:
1) Changes in general economic conditions, both domestically and internationally, impacting financial markets (e.g. marketable security values, as well as currency and interest rate fluctuations) that could negatively affect the Company, particularly but not limited to the Company's cemetery trust revenues. 2) Changes in domestic and international political and/or regulatory environments in which the Company operates, including tax and accounting policies. Changes in regulations may impact the Company's ability to enter or expand new markets. 3) Changes in consumer demand and/or pricing for the Company's products and services caused by several factors, such as changes in local death rates, cremation rates, competitive pressures and local economic conditions. 4) The Company's ability to sell preneed heritage cemetery property which is usually associated with new customers of the Company's cemeteries. 5) The Company's ability to successfully integrate acquisitions into the Company's business and to realize expected cost savings in connection with such acquisitions. 6) The Company's ability to successfully implement certain cost reduction initiatives, as well as changes in domestic and international political and/or regulatory environments which could negatively effect the implementation of the Company's cost reduction initiatives. 7) The Company's ability to successfully realize the estimated cash and non-cash savings and the estimated cash payback period associated with the Company's cost reduction initiatives. 8) The Company's ability to successfully implement certain strategic revenue and marketing initiatives resulting in increased volume through its existing facilities and the Company's ability to successfully implement certain strategic cash flow initiatives, including but not limited to the previously announced funeral and cemetery consumer financing program, which could improve or generate cash flow for the Company. 9) The Company's ability to successfully exploit its substantial purchasing power with certain of the Company's vendors.
The Company assumes no obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made by the Company.
Other Service Corporation International and press releases are available
through Company News On-Call by fax, (800) 758-5804, extension 104532, or at
http://www.prnewswire.com or SCI's homepage: http://www.sci-corp.com.