Assisted Living Concepts, Inc. (NYSE:ALC) announced earnings this week that showed net income of $2.9 million on revenues of $58 million in the second quarter of 2010. The earnings were impacted by write-downs of equity investments and reorganization of various divisions and write-off of expenses with an expansion project was not completed. ALC had occupancy levels of 62.7% for its continuing operation units for the second quarter 2010 and saw overall and private pay rates by 5.8% and 3.8%, respectively over the second quarter of 2009.
“Second quarter operating results were solid. For the fourth quarter in a row we achieved positive private pay
occupancy and revenue growth,” commented Laurie Bebo, President and Chief Executive Officer. “Despite
continuing challenges in the economy and in particular with high unemployment rates, we continue to be
confident in our ability to increase private pay occupancy and Adjusted EBITDAR margins throughout 2010.”
