Capital Senior Living Corporation (the “Company”) (NYSE:CSU), one of the country’s largest operators of senior living communities, today announced operating results for the first quarter of 2011. Company highlights for the first quarter include:
- Adjusted Cash From Facility Operations (“CFFO”) increased 48.0% to $5.8 million or $0.21 per share in the first quarter of 2011, an increase of $0.06 per share from the first quarter of 2010.
- Revenue increased 24.9% to $59.8 million in the first quarter of 2011, an increase of $11.9 million from the first quarter of 2010.
- Average monthly rent increased 8.8% to $2,776 per occupied unit in the first quarter of 2011, an increase of $224 per occupied unit from the first quarter of 2010.
- Consolidated average occupancy increased 140 basis points to 84.8% in the first quarter of 2011 compared to the first quarter of 2010.
- Adjusted EBITDAR increased 43.1% to $20.5 million in the first quarter of 2011, an increase of $6.2 million from the first quarter of 2010. EBITDAR margin improved to 34.3% from 29.9% in the first quarter of the prior year.
“We are pleased to report positive results for the first quarter, which is typically a challenging period,” said Lawrence A. Cohen, Chief Executive Officer of the Company. “We increased average rents by nearly nine percent and tightly controlled expenses. Our occupancy grew by 140 basis points, our EBITDAR margin increased 440 basis points and CFFO grew by 48%. These results reflect the fundamental strength of our business as we benefit from need-driven demand and virtually no new supply in an improving economy. We are also excited about our acquisition pipeline, which is expected to increase our ownership of high-quality senior living communities, enhance our geographic concentration, generate meaningful increases in CFFO and be immediately accretive to earnings.”
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV