Capital Senior Living Corporation (NYSE:CSU) reported earning of $1.2 million dollars of net income for the fiscal third quarter. Operating expenses increased by $1.0 million or 4 percent from the third quarter of 2007. As a percentage of resident and healthcare revenues, operating expenses were 63.2 percent. Food costs in the third quarter of 2008 increased 3 percent from the third quarter of 2007, while labor costs increased 2 percent and utilities increased 7 percent, with the the company attributing that primarily due to an unusually hot summer in Texas.
The Company currently operates 65 senior living communities in 23 states with an aggregate capacity of approximately 9,600 residents, including 38 senior living communities which the Company owns or in which the Company has an ownership interest, 25 leased communities and 2 communities it manages for third parties.
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