Five Star Quality Care, Inc. (NYSE Amex: FVE) announced its financial results for the quarter and year ended December 31, 2009 last week that showed increases in revenues and net income for both fourth quarter 2009 and full year 2009. Total revenues for the year ended December 31, 2009 increased 8.5% to $1.2 billion from $1.1 billion for the same period last year and saw its net income from continuing operations for the year ended December 31, 2009 was $39.3 million compared to $615,000 for the same period last year. FVE’s net income from continuing operations for the year ended December 31, 2009 included several items that, in aggregate, had a positive affect of $33.2 million, or $0.99 and $0.86 per basic and diluted share, respectively, on its earnings.
Five Star’s Occupancy showed a decrease from 88.5% as of December 31, 2008 to 86.2% as of December 31, 2009 and saw an increase in the average daily rate of 2.3% from 2008 to 2009.
See the full earnings release: http://investor.shareholder.com/fve/releasedetail.cfm?ReleaseID=445523
For the conference call transcript, click http://seekingalpha.com/article/189368-five-star-quality-care-inc-q4-2009-earnings-call-transcript