TrinityCare Senior Living, Inc. (OTC.BB:TCSR) recently reported operating results for Q1 2010 that showed an increase in revenues for Q12010 of 11% compared to first quarter 2009. Gross profit totaled $1,109,290, compared with $813,707 in the three months ended March 31, 2010 and Trinity’s gross profit margin improved to 64.6% of gross revenue in the most recent quarter, versus 52.6% in the prior-year quarter. The Company reported a net loss of ($211,444), or ($0.02) per share, in the most recent quarter, versus a net loss of ($245,946), or ($0.03) per share, in the prior-year period.
"This represents our fourth consecutive quarter of revenue growth, when compared with prior-year periods," stated Donald W. Sapaugh, Chairman and Chief Executive Officer of TrinityCare Senior Living, Inc. "Our occupancy rates remain stable, and with revenues increasing, we expect the Company’s operating results to improve as we focus on controlling expenses. Existing operations are critical to our long-term success, and we have devoted significant resources to ensuring that our financial metrics improve in coming quarters. While recent changes in HUD’s LEAN procedures have slowed our ability to access construction financing for certain new facilities, our commitment to the projects planned for 2010 has not been compromised."