Hillenbrand Industries on Thursday reported record fourth-quarter earnings and also announced the retirement of longtime chairman Dan Hillenbrand.

        But there will still be a Hillenbrand in the chairman's seat at the Batesville, Ind.-based funeral products and hospital bed manufacturer, because Ray Hillenbrand, 66, Dan Hillenbrand's nephew and a board member since 1970, will succeed him as chairman. Ray Hillenbrand was active in management of the company from 1960 to 1977, when he left to purse other interests.

        Dan Hillenbrand, 77, has been an officer in the family business since 1966. He consolidated its Hill-Rom hospital bed and Batesville Casket companies into the Hillenbrand holding company and led its initial public stock offering in 1971. He has been chairman of the board since 1972. In recognition of his service, he was named chairman emeritus.

        He is the second Hillenbrand family member to retire recently. Gus Hillenbrand, Ray's cousin, retired as chief executive in December.

        For the three months ended Dec. 2, Hillenbrand said net income increased 129 percent to $48 million, or 83 cents a share, versus $21 million, or 58 cents a share, a year ago. The latest quarterly earnings per share exceeded the consensus of analysts surveyed by First Call/ Thompson Financial by 3 cents a share.

        Revenues for the quarter increased to $587 million from $526 million a year ago.

        For the fiscal year, net income increased to $154 million, or $2.47 a share, from $124 million, or $2.23 a share, in the prior year.

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