Updating Arbor Memorial Services, Hart Stores and Thomson Reuters

Article Excerpt

ARBOR MEMORIAL SERVICES INC. $17 (Toronto symbol ABO.A; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 10.7 million; Market cap: $181.9 million; Price-to-sales ratio: 0.7; SI Rating: Average) owns 41 cemeteries, 26 crematoria, four reception centres and 87 funeral homes in eight provinces. In its second quarter, which ended April 26, 2009, earnings fell 7.6%, to $4.9 million, or $0.45 a share. Arbor earned $5.3 million, or $0.49 a share, a year earlier. Revenue rose 3.3%, to $60 million from $58.1 million. The company performed 2.9% fewer funeral services in the quarter, but earned higher fees per service. Demand for funerals could stagnate or drop in the next few years. Many people born in the 1920s have already died, and birthrates were lower in the 1930s and 1940s due to the Great Depression and World War II. The post-war baby boomers have not yet reached their years of highest mortality. But boomers will likely spend more on funerals than their parents. Arbor is…

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