Matthews Int'l Q3 Profit Meets Estimate; Backs FY13 Adj. EPS Outlook

(RTTNews) - Matthews International Corp. (MATW), a designer and manufacturer of memorialization products, reported third-quarter net income attributable to the company of $18.0 million or $0.65 per share, compared to $16.3 million or $0.58 per share in the comparable quarter last year.

Excluding items, adjusted earnings rose to $0.72 per share from $0.65 per share a year ago. On average, three analysts polled by Thomson Reuters expected earnings of $0.72 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter increased to $250.65 million from $227.48 million in the year-ago quarter, while three analysts expected revenues of $253.67 million for the quarter.

Looking ahead to fiscal 2013, the company continues to projects adjusted earnings per share to be in the range of $2.45 to $2.55. Analysts now expect fiscal 2013 earnings of $2.50 per share.

Further, the Board of Directors of the company also declared a dividend of $0.10 per share on the company's common stock for the quarter ended June 30, 2013, payable August 12, 2013 to stockholders of record July 29, 2013.