SOURCE: StoneMor Partners L.P.

April 21, 2006 09:31 ET

StoneMor Partners L.P. Announces Current Delay Results From Continuing Review

BRISTOL, PA -- (MARKET WIRE) -- April 21, 2006 -- StoneMor Partners (NASDAQ: STON) today announced that the current delay in filing its annual report to the Securities and Exchange Commission on Form 10-K results from a continuing review of the classification of certain items within the Company's statement of cash flow and certain possible additional informational disclosures in the footnotes to the Company's financial statements. Additionally, the Company has decided to restate the classification of Deferred Selling Expenses from inclusion in Deferred Revenues, net to an individual item on the asset portion of the Balance Sheet. The review does not affect the Company's operating results, cash flow, operations, or distributions to its unitholders. The Company does not expect any changes to the operating financial information issued in its press release of March 15, 2006, when the Company indicated that 2005 revenues are expected to increase 11% and 2005 operating profit is expected to increase 30%. The review is expected to be completed shortly, at which time the Company will file its annual report to the SEC on Form 10-K and its restated 10-Qs for the first three quarters of 2005, as previously disclosed. The Company will be announcing shortly its next distribution to its unitholders due to be paid on or before May 15, 2006.

Contact Information

  • Contact:
    Tim Yost
    (215) 826-2800