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STEWART ENTERPRISES REPORTS SECOND QUARTER 1992 RESULTS

 STEWART ENTERPRISES REPORTS SECOND QUARTER 1992 RESULTS
 NEW ORLEANS, June 2 /PRNewswire/ -- Stewart Enterprises, Inc. (NASDAQ: STEI) today reported a strong second quarter of fiscal 1992, with a 47.5 percent increase in net earnings over the same period last year and an 87.6 percent increase in net earnings for the first six months of fiscal 1992 over the first half of fiscal 1991.
 Net earnings totaled approximately $4.0 million for the quarter ended April 30, compared to approximately $2.7 million for the same period in 1991. Earnings year-to-date in fiscal 1992 reached approximately $7.6 million, compared to approximately $4.0 million for the first six months of fiscal 1991.
 Earnings per share for the quarter increased to $.40 based on 9,884,255 weighted average common shares outstanding, compared to last year's earnings per share of $.39 with 6,909,255 weighted average common shares outstanding. Earnings per share for the first six months of fiscal 1992 reached $.77 on 9,884,255 weighted average common shares outstanding, a 30.5 percent increase over results of $.59 for the same period in fiscal 1991 based on 6,953,129 weighted average common shares outstanding.
 Lawrence M. Berner, president and CEO, stated that these strong results for the second quarter and six months ended April 30 were achieved due to improved profit margins, lower interest costs and revenue increases in excess of 14 percent for both periods.
 Stewart Enterprises, Inc. is the third-largest provider of products and services in the death care industry. The company is also a leader in the industry's movement toward consolidation, the combination of funeral home and cemetery operations, and complete death care planning and delivery. The company currently operates 45 funeral homes and 31 cemeteries in eight states.
 STEWART ENTERPRISES, INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF EARNINGS
 (Unaudited)
 3 months ended 4/30 1991 1992
 Revenues:
 Funeral $13,304,824 $15,366,416
 Cemetery 17,154,279 19,754,073
 Life insurance 2,003,156 2,165,099
 Construction and sales contracts 1,786,481 1,997,957
 Total revenues 34,248,740 39,283,545
 Costs and expenses:
 Funeral 9,386,928 11,034,927
 Cemetery 13,843,934 15,666,883
 Life insurance 2,018,753 2,113,683
 Construction and sales contracts 1,754,044 1,902,331
 Total costs and expenses 27,003,659 30,717,824
 Gross profit 7,245,081 8,565,721
 Corporate general and admin. expenses 1,203,155 1,355,342
 Earnings from operations 6,041,926 7,210,379
 Interest expense (2,415,058) (1,380,349)
 Investment and other income 275,066 32,188
 Earnings before income taxes 3,901,934 5,862,218
 Income taxes 1,199,070 1,875,356
 Net earnings $ 2,702,864 $ 3,986,862
 Earnings per common share $ 0.39 $ 0.40
 Weighted average common shares outst. 6,909,255 9,884,255
 STEWART ENTERPRISES, INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF EARNING
 (Unaudited)
 6 months ended 4/30 1991 1992
 Revenues:
 Funeral $24,948,940 $30,161,550
 Cemetery 33,178,422 37,251,213
 Life insurance 4,526,446 4,233,158
 Construction and sales contracts 3,460,408 3,957,359
 Total revenues 66,114,216 75,603,280
 Costs and expenses:
 Funeral 18,845,882 22,037,423
 Cemetery 27,187,433 29,955,616
 Life insurance 4,138,926 4,089,741
 Construction and sales contracts 3,391,008 3,657,960
 Total costs and expenses 53,563,249 59,740,740
 Gross profit 12,550,967 15,862,540
 Corporate general and admin. expenses 2,449,404 2,507,870
 Earnings from operations 10,101,563 13,354,670
 Interest expense (4,683,744) (2,625,908)
 Investment and other income 455,494 495,320
 Earnings before income taxes 5,873,313 11,224,082
 Income taxes 1,804,282 3,591,706
 Net earnings $ 4,069,031 $ 7,632,376
 Earnings per common share $ 0.59 $ 0.77
 Weighted average common shares outst. 6,953,129 9,884,255
 -0- 6/2/92 R
 /CONTACT: Ronald H. Patron of Stewart Enterprises, 504-837-5880/
 (STEI) CO: Stewart Enterprises, Inc. ST: Louisiana IN: SU: ERN


EA-BN -- AT053 -- 6094 06/02/92 09:40 EDT
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Date:Jun 2, 1992
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