Five Star Quality Care Swings To Profit In Q3 2009 On Extinguishment Of Debt

Five Star Quality Care, Inc. (NYSE Amex: FVE) (“the Company”) announced its financial and operating results for 3rd quarter 2009 that showed an in revenues of almost 6% compared to Q3 2008 and the company swung to a profit of $4.1 million.  Three million of the company’s earning were the result of the extinguishment of $15.6 million par value of our outstanding Notes for $12.1 million, plus accrued interest, and recorded a $3.0 million gain, net of related unamortized costs, on the early extinguishment of debt.  Occupancy for the third quarter of 2009 was 86.1% compared to 88.3% for the same period last year and the average daily rate for the third quarter of 2009 increased by 2.2% to $145.83 from $142.74 in the same period last year.

Five Star Quality Care, Inc. (NYSE Amex: FVE) 3rd Quarter Earnings Release

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