Capital Senior Living Corporation (CSU)
Q1 2010 Earnings Call
May 6, 2010 11:00 a.m. ET
Larry Cohen - CEO
Ralph Beattie - EVP & CFO
Dan Bernstein - Stifel Nicolaus
Good day and welcome to the Capital Senior Living First Quarter 2010 Earnings Release Conference Call. Today’s conference is been recorded.
The forward-looking statements in this release are subject to certain risks and uncertainties that could cause results to differ materially including, but not without limitations to the company’s ability to find suitable acquisition properties at favorable terms, financing, licensing, business condition, risks of downturns in economic conditions generally, satisfaction of closing conditions such as those pertaining to licenser, availability of insurance at commercially reasonable rates and changes in accounting principles and interpretations among others, and other risk and factors identified from time to time in our reports filed with the Securities and Exchange Commission.
At this time, I would like to turn the conference over to Mr. Larry Cohen, Chief Executive Officer. Please go ahead sir.
Thank you, good morning. I am pleased to welcome everyone to Capital Senior Living’s First Quarter 2010 Earnings Release Conference Call. The first quarter of the year is typically our most challenging period and this year was particularly impacted by harsh weather around the country.
Yet we achieved positive results through increases and average multi-rents and tight control of expenses. Our EBITDAR margin increased from the first quarter of 2009 and cash flow from operations was $0.15 per share. We are encouraged by improvement in move-ins and deposits in March and April and by the fact that new supply is practically non-existent as demand continues to grow.