Hillenbrand Inc.’s first-quarter profit slips on costs

Batesville-based casket manufacturer Hillenbrand Inc. said Wednesday that its fiscal first-quarter profit fell 8 percent as an increase in sales was offset by higher costs.

For the October-December period, Hillenbrand reported net income of $27.1 million, or 44 cents per share, compared with $29.5 million, or 48 cents per share, a year ago.

Revenue rose to $211 million from $161.5 million.

Hillenbrand said the drop in profit was due to business acquisition costs and certain non-operating costs.

Last April, Hillenbrand completed the acquisition of K-Tron International Inc., which manufactures industrial feeders and pneumatic conveying equipment. Hillenbrand also owns the Batesville Casket Co., which makes products for the funeral industry.

For the fiscal year ending Sept. 30, Hillenbrand said it expects revenue between $855 million and $875 million and adjusted earnings per share between $1.79 and $1.85.