Stewart Enterprises, Inc. 2000 Annual Report

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in thousands, except per share amounts.)

(18) QUARTERLY FINANCIAL DATA (UNEDITED)

(1) The first, second and third quarters of fiscal year 1999 have been restated from the Company’s respective Quarterly Reports on Form 10-Q to reflect the Company’s change in accounting principle effective November 1, 1998. As a result, first quarter of fiscal year 1999 reflects a $3,016 decrease in earnings, $.03 per share (basic and diluted), before the cumulative effect of the change in accounting principle. Second quarter of fiscal year 1999 as presented above reflects a decrease in net earnings of $5,055, or $.05 per share (basic and diluted), as a result of the accounting change. Third quarter of fiscal year 1999 as presented above reflects a decrease in net earnings of $5,552, or $.05 per share (basic and diluted), as a result of the accounting change. See Note 3.
(2) In addition, the first quarter as presented above includes a $50,101 decrease in net earnings (net of a $28,798 income tax benefit), or $.51 per share (basic and diluted), for the cumulative effect of the change in accounting principle.