Family Memorials Inc.
TSX VENTURE : FAM

Family Memorials Inc.

November 28, 2007 16:18 ET

Family Memorials Announces Third Quarter Results

THUNDER BAY, ONTARIO--(Marketwire - Nov. 28, 2007) - Family Memorials Inc. (TSX VENTURE:FAM) is pleased to announce financial results for its third quarter ended September 30, 2007. The Company posted revenue of $810,030 compared to $482,634 for the third quarter of 2006, a year over year increase of 67.8 percent. The net result for the quarter is a (loss) of $77,346, or a $.004 per diluted share compared to $.01 per diluted share in the year-ago quarter. Gross margin was 34.7 percent, up from 29.6 percent for the prior year, an increase of 17.2 percent.

"We are very pleased to report record third quarter results that are consistent with our sales and gross margin projections while limiting increases in expenses to less than 15 percent" said Scott Kellaway, Family Memorials CEO. "We are looking forward to a continuation of this trend in the fourth quarter and in 2008".

About Family Memorials

The Corporation is in the business of consolidating retail businesses selling granite monuments for placement on individual cemetery lots. Family Memorials Inc. has eight Canadian sales outlets. Family Memorials carries on business through its wholly-owned subsidiaries Grajack Industries Ltd. in Belleville, Ontario; Verduyn Granite Ltd., in Peterborough, Ontario; Barber Monuments in St. Catharines, Ontario; and Somerville Memorials Ltd. in Calgary, Alberta; and under the Family Memorials banner in Brandon, Manitoba, Regina, Saskatchewan, and Calgary, Alberta, and in Swan River, Manitoba through its exclusive agent, Heritage Memorial Gardens.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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