Five Star Quality Care, Inc. (NYSE: FVE) released its its financial results for the quarter and year ended December 31, 2010 that showed fourth quarter revenues increasing 5.4% to $315.7 million from $299.5 million for the same period the previous year and income from continuing operations for the fourth quarter of 2010 was $6.4 million compared to $877,000 for Q4 2009. Total revenue for 2010 increased 5.9% to $1.24 billion from $1.17 billion for 2009. Five Star owns or leases and operates 212 senior living communities with 22,562 living units located in 30 states.
Operating highlights for Five Start Quality Care in Q4:
- Occupancy for the fourth quarter of 2010 was 85.9% compared to 86.2% for the same period in 2009.
- Average daily rate for the fourth quarter of 2010 increased by 4.0% to $150.11 from $144.29 in the same period in 2009.
- Percentages of revenue derived from private sources other than Medicare and Medicaid for the fourth quarter of 2010 decreased to 70.1% from 71.1% for Q4 2009.
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