Excluding noncash stock-based compensation expenses, senior living general and administrative expenses as a percent of total operated senior living community revenue was 5.0% in the fourth quarter of 2012, compared to 4.9% in the fourth quarter of 2011.
For the fourth quarter of 2012, Adjusted EBITDAR increased $27.7 million, or 31.3%, to $116.2 million, with the increase primarily driven by the increase in community operating income. CFFO per share, as adjusted, increased 25.0% to $0.40 per share, compared to $0.32 per share in the fourth quarter of 2011.
2013 Guidance Update
The Company provides guidance for the Company’s existing portfolio and excludes future acquisitions and dispositions.The Company’s guidance for 2013 is as follows:
- Community and management fee revenue in the range of $1.85 billion to $1.90 billion
- Routine capital expenditures in the range of $28.0 million to $30.0 million
- Senior living general and administrative expenses as a percent of total senior living operated revenue of approximately 4.9%, excluding non-cash stock-based compensation expenses
- CFFO, as adjusted, in the range of $2.10 to $2.20 per share
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