July 2020

Page A25 JULY 2020 FUNERAL HOME & CEMETERY NEWS S ec t i on A For a one-time fee, the Travel Plan by Inman provides a lifetime of travel protection. The Only Travel Plan Backed By Inman Shipping Worldwide ©adfinity ® Contact us today to learn more. (888) 889-8508 • travelplan@shipinman.com ShipInman.com With safety for today — and even more flexibility for tomorrow. With innovative products from Physicians Mutual ® and the Remote Preneed program from Precoa, you’ll have everything you need to grow and protect your preneed business. connecting We’re in new ways PhysiciansMutual.com/preneed | Precoa.com A VIRTUAL ADVENTURE AWAITS! NFDA New Orleans Oct. 18-21 | Booth 1623 + PM3288 Preneed program not available in all states. Security National Financial Corporation Reports Financial Results for the First Quarter 2020 F uneral I ndustry responds to COVID-19: John Vincent Scalia Home for Funerals the restrictions families were given 2 hour wakes with no more than 10 people in the room at one time, practicing social distancing,” Scalia said. Local cemeteries and crematories were backed up one month and in most cases burial was by appointment. Scalia was able to contract with several Pennsylvania cre- matories. Even though the crematories were one and a half to two hours away, they were able to avoid the need for refrigerated trailers to store the deceased. The John Vincent Scalia Home for Funerals has been burying the homeless and those who have little means to pay since its founding in 1970. With so many New Yorkers out of work, paying for funerals has been a hardship for many fami- lies during the pandemic. Scalia has offered to bury unclaimed coronavirus victims who have no known loved ones as well as assuming costs for families without the ability to pay. “We cremated approximately one hundred twenty de- ceased and because local crematories are still backed up we continue to take our cremations to Pennsylvania even though it has slowed up considerably,” says Scalia. “We are proud of our staff who worked tirelessly, 24 hours a day to make immediate transfers and preparations which alleviated the buildup in hospitals, nursing homes, and temporary facilities,” he concluded. Continued from Front Page SALT LAKE CITY,UT— Security National Financial Corporation (NASDAQ: SNFC) announced fi- nancial results for the quarter end- ed March 31, 2020. For the three months ended March 31, 2020, SNFC’s after-tax earnings from operations decreased 26.2%, on a 29.5% increase in rev- enues. Scott M. Quist , President of the Company, said: “The COVID-19 pandemic had a marked influence on our reported Q1 earnings. Our Mark to Market common stock losses included in our Q1 results were about $2.5 million and were centered in both our Life Insurance and Cemeteries/Mortuaries busi- ness segments. As of April 30th, we had recovered approximately 50% of those losses on a Mark to Mar- ket basis, but the stock market con- tinues to be very volatile so fore- casting market returns is currently a challenge. I am sure we will rec- ognize some “real” cash stock mar- ket losses as we did have some hold- ings, albeit relatively small, in what are now some very troubled indus- tries, including airlines and aircraft manufacturers. Absent the Mark to Market losses, operationally our performance would have been in the $4 million range, which would be a significant improvement over 2019. Thus, even recognizing the decrease in reported net income, I am quite pleased with our Compa- ny’s first quarter performance.” Net earnings per common share was $.08 for the three months end- ed March 31, 2020, compared to net earnings of $.11 per share for the pri- or year, as adjusted for the effect of annual stock dividends. For full information, visit www.securitynational.com. Send Us Your News! FUNERAL HOME & CEMETERY NEWS PO Box 5159, Youngstown, OH 44514 Fax 1-800-321-9040 • Email info@nomispublications.com