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Funeral revenue decreased $41.6 million, or 9 percent, for the year ended October 31, 2001, compared to the corresponding period in 2000. The Company experienced a $26.4 million, or 6 percent, decrease due to the effect of implementing SAB No. 101. Additionally, during fiscal year 2001, the Company sold several of its foreign operations with the remainder held for sale, and several small domestic operations have either been sold or are held for sale. This resulted in a decline in funeral revenue and costs as described below in the section entitled “Year Ended October 31, 2001 Compared to Pro Forma Year Ended October 31, 2000.” Slightly offsetting these decreases was an increase in the average revenue per funeral service performed by Operations to be Retained of 1.4 percent and an increase of 1.1 percent in the number of funeral services performed by Operations to be Retained (821 events).
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