Brookdale Senior Living’s Loss Decreases on Higher Revenues, Occupancy Levels

Brookdale Senior Living (NYSE: BKD) announced its financial and operating results for the third quarter of 2010 that showed an increase in revenues of 10% compared to Q3 2009 and strong cash flow from facility operations of $59.7 million for the current quarter.  However, it showed a loss of $16.9 million in Q3 2010 versus a loss of $21.3 million during Q3 2009.  Brookdale’s overall revenues were $558.5 million and its average monthly revenue per unit was $4,457 in the third quarter, an increase of $198, or 4.6%, over the third quarter of 2009.  Occupancy levels for third quarter of 2010 were at 87.4%.

Bill Sheriff, Brookdale’s CEO, said, "We saw the continuation of positive trends in key drivers of the business during the third quarter. We built occupancy every month for the last seven months and ended with all segments increasing for the quarter. Our senior housing rate per unit continued modest recovery and ancillary service revenue continued to experience solid growth. Entry fee sales were strong and, for the first time in two years, we had more move-ins than move-outs in entry fee independent living. We are pleased with the positive results this quarter and the improving trends."

Brookdale Q2 2010 Earnings Release