Finance

StoneMor Press Release Tells of Delay for Form 10-K

Foundation Partners why I partnered

StoneMor Partners issued a press release last week that it will not file its Annual Report on Form 10-K for the fiscal year ended December 31, 2017 by its due date of April 2, 2018.  They are seeking a waiver to extend the date by which the Form 10-K must be filed.  You can read the press release here.

In the same release StoneMor also provided preliminary unaudited financial information for the 2017 year.  Here are some of the highlights:

  • Revenues for the 4th quarter fell to $85.3 million compared to $88.3 million for the 2016 4th quarter
  • Revenues for the entire 2017 year increased to $338.2 million as compared to $326.2 million for  2016
  • Net cash-flow for the year is expected to be about $15.0 million as compared to $22.8 million in 2016
  • Corporate overhead expenses increased to approximately $52.0 million in 2017 as compared to $39.6 million in 2016
  • Interest expense in  2017 is expected to be approximately $27.3 million as compared to $24.5 million in 2016
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