Houston-based funeral and cemetary operater Service Corporation International notified investors and federal regulators yesterday that it plans to delay its second-quarter earnings report to finish an accounting review involving 430,000 prepaid funeral services. The company said that it expects the delay to be about 10 days and it will file the second-quarter report shortly thereafter.
The company said it could have to restate financial reports for the first quarter of 2005, each of the four quarters of 2004 and 2003, and each of the fiscal years that ended Dec. 31, 2000 through 2004. The adjustments so far total $7.5 million, which — if those are the only adjustments — are not materially adverse for a company the size of SCI.