This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Emeritus Shares Fall After 3Q Loss Reported

SEATTLE (AP) ¿ Shares of assisted-living services provider Emeritus Corp. fell Tuesday after the company reported a $16 million loss even though occupancy at its centers increased in the third quarter.

Emeritus said late Monday that its loss for common shareholders was 41 cents per share, compared with a loss of $23.1 million, or 59 cents per share, a year earlier.

The company said the latest loss would have been about $8.4 million excluding a non-cash impairment charge of $1.9 million and a rise in costs for workers compensation and health insurance.

Revenue rose 16.7 percent to $222.7 million.

The chain's occupancy rate inched higher to 87.2 percent from 86.6 percent a year earlier, and the company said it was even higher, 88.8 percent, on the last day of the quarter.

The company said revenue per location open at least one year increased 3.4 percent.

President and co-CEO Granger Cobb said gains in occupancy would give the company more power to raise prices as demand improves. He also said the strength of the company supported efforts to grow through acquisitions.

Shares of Emeritus fell $2.43, or 12 percent, to $18.22 in midday trading.
Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
ESC $33.46 -0.39%
AAPL $94.30 -0.92%
FB $118.08 0.55%
GOOG $695.81 0.50%
TSLA $233.80 0.64%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs