Mr. Scott Kellaway reports

FAMILY MEMORIALS REPORTS RECORD THIRD QUARTER RESULTS

Family Memorials Inc. has released its third-quarter results.

Family Memorials is pleased to report third-quarter sales of $5,385,607, a 360-per-cent increase over the third-quarter sales in the prior year. In addition to a record net income of $717,068, the corporation has a positive earnings before interest, taxes, depreciation and amortization of $1,253,566.

Scott Kellaway, president and chief executive officer, said: "I am very pleased with our third-quarter results. In addition to our record earnings and EBITDA, we increased our gross margin from 35.82 per cent to 47.87 per cent for the quarter. I attribute this to the synergies acquired with the acquisition and restructuring of Remco Memorials, coupled with our continued focus on reducing operating expenditures."