- Adjusted Cash From Facility Operations (“CFFO”) was $5.7 million or $0.21 per share in the third quarter of 2011. Excluding a tax refund from amending tax returns in the third quarter of the prior year, CFFO increased 85% from the third quarter of 2010.
- Revenue increased 27.2% to $68.2 million in the third quarter of 2011, an increase of $14.6 million from the third quarter of 2010.
- Average monthly rent increased 10.3% to $2,924 per occupied unit in the third quarter of 2011, an increase of $272 per occupied unit from the third quarter of 2010. Sequentially, average monthly rent increased 1.1% per occupied unit from the second quarter of 2011.
- Consolidated average occupancy including 112 units converted to higher levels of care that are in lease-up was 84.7% in the third quarter of 2011, equal to the third quarter of 2010 with approximately 1,000 additional consolidated units in the current period. Sequentially, consolidated average occupancy was up 80 basis points from the second quarter of 2011.
- Adjusted EBITDAR increased 42.9% to $23.8 million in the third quarter of 2011, an increase of $7.2 million from the third quarter of 2010. EBITDAR margin improved to 34.9% from 31.1% in the third quarter of the prior year.
- The Company completed the acquisition of four senior living communities for a combined purchase price of $53 million.
- Subsequent to the end of the third quarter, the Company completed the acquisition of three additional senior living communities for a combined purchase price of approximately $30 million.
Capital Senior Living Corporation Reports Third Quarter 2011 Results; CFFO Increases 85% Versus Prior Year
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