Brookdale Announces First Quarter 2009 Results; CFFO of $0.49... ( Highlights

Brookdale Announces First Quarter 2009 Results; CFFO of $0.49 per Share

Date:5/6/2009

Highlights

- Cash From Facility Operations grew 20% to $0.49 per outstanding common share from $0.41 per outstanding common share (excluding integration costs in Q1 2008)

- Improved average monthly revenue per unit by 5.4% from $3,759 to $3,961. Average occupancy was 88.7%, down from 90.0% in Q1 2008

- Increased revenue by $17.3 million, or 3.6%, to $497.9 million

- Improved Facility Operating Income by $5.9 million, or 3.5%, to $173.0 million

- Reduced outstanding cash revolver balance on the line of credit by $40.0 million from the February amendment date to $155.0 million at March 31, 2009 and by a total of $55 million to $140 million currently.

NASHVILLE, Tenn. , May 6 /PRNewswire-FirstCall/ -- Brookdale Senior Living Inc. (NYSE: BKD) (the "Company") today reported financial and operating results for the first quarter of 2009.

Bill Sheriff, Brookdale's CEO, said, "We had a very good start to the year. Our organization's response to the call to action has been incredible. After January's typical occupancy decline, our sales and marketing team held occupancy steady through the end of March despite the challenging environment. At the same time, our revenue per unit increased by over 5%, helped partially by our ancillary services programs. However, the most significant improvement came through the actions of our organization to comprehensively examine our costs and execute on numerous cost control measures. As the first quarter results show, we made significant progress toward adjusting our cost structure to better face these difficult times."

Mark Ohlendorf, Co-President and CFO of Brookdale, commented, "We are very happy with the progress we have made so far this year in improving our balance sheet and, particularly, in addr
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Brookdale Announces First Quarter 2009 Results; CFFO of $0.49...( Highlights - Cash From Facilit...),Health