This Day On The Street
Continue to site
ADVERTISEMENT
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 Announces Operating Results For Fourth Quarter And Full Year 2011

Emeritus Corporation (NYSE: ESC), a national provider of senior living services, today announced its fourth quarter and full year 2011 results.

Operating Summary for the Full Year 2011 Compared to the Full Year 2010

  • Total revenues increased $247.7 million, or 24.6%, to $1.255 billion
  • Adjusted EBITDAR increased $60.9 million, or 21.3%, to $346.4 million
  • CFFO, as adjusted, increased $10.4 million, or 19.4%, to $64.0 million
  • Same community average monthly revenue per occupied unit improved by 1.2% to $3,829
  • Same community average occupancy increased 10 basis points to 87.8%
  • Same community operating margin was 34.2% compared to 35.2%

Operating Summary for Fourth Quarter 2011 Compared to Fourth Quarter 2010

  • Total revenues increased $40.4 million, or 14.2%, to $324.1 million
  • Adjusted EBITDAR increased $7.7 million, or 9.5%, to $88.5 million
  • CFFO, as adjusted, was $15.1 million compared to $16.3 million in the prior year period
  • Same community average monthly revenue per occupied unit improved by 0.6% to $3,831
  • Same community average occupancy increased 30 basis points to 88.0%
  • Same community operating margin for Q4 2011 was 34.0% compared to 35.8%

Granger Cobb, President and Chief Executive Officer commented, “In 2011, we continued to increase our key cash flow metrics, despite persistent economic headwinds. We are well-positioned with our current cost structure and controls, as well as our nationwide footprint, to grow margin as we benefit from favorable supply/demand characteristics and a shift to increased utilization of post-acute services.”

2011 Annual Consolidated Results

Total operating revenues increased by $247.7 million, or 24.6%, to $1.255 billion for the year ended December 31, 2011, compared to $1.007 billion in 2010. The total revenue increase consisted primarily of $225.7 million from the acquisition of communities (net of dispositions), $12.0 million, or an increase of 1.3%, from the Company’s portfolio of 262 communities operated during both periods, and $9.2 million from an increase in management fees primarily from the addition of the Sunwest Joint Venture communities in August 2010.

1 of 8

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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs