For the quarter and nine months ended September 30, 2007, Cash From Facility Operations was $43.3 million and $120.1 million, respectively, or $0.43 and $1.18 per common share outstanding at September 30, 2007. This was a 59% increase for the quarter and a 107% increase for the year-to-date period on a per share basis over the same periods in the prior year.
Third quarter Adjusted EBITDA and Cash From Facility Operations included integration and acquisition-related costs and start-up expenses associated with ancillary services of $5.7 million, or $0.06 per outstanding common share, and excludes amortization related to capital leases and debt of $4.1 million, or $0.04 per outstanding common share, for a net effect of $1.6 million, or $0.02 per outstanding common share.
Same store revenues grew 7.2% for the twelve months ended September 30, 2007 over the corresponding period ending in 2006, and same store Facility Operating Income grew 8.8% when compared to the same period, including, in both cases, the effect of the historical results of the ARC facilities. Similarly, same store revenues grew 6.3% for the quarter ended September 30, 2007 over the same period in 2006, and same store Facility Operating Income grew 8.2% when compared to the third quarter of 2006.
Bill Sheriff, Co-CEO of Brookdale, commented, "On the ancillary
services side, we continued to increase the penetration of these services
among the legacy Brookdale units while maintaining the profitability of the
legacy ARC business. By the end of the third quarter, we were providing
ancillary services to 15,483 legacy Brookdale units, well ahead of our
original plan. On the ARC side, ancillary services produced $183 of monthly
NOI per occupied unit, including home health services. We see great
potential in the home health business to add to the growth of the ancillary
services platform. We had planned to initiate these services in several
legacy Brookdale facilities during this quarter bu
|SOURCE Brookdale Senior Living Inc.|
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