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Sunrise Reports Financial Results for Fourth Quarter and Full-Year 2008
Date:3/2/2009

income taxes, extraordinary loss and discontinued operations for the fourth quarter and twelve months ended December 31, 2008 was $261.3 million and $423.2 million, respectively, as compared to the loss before income taxes and discontinued operations of $96.5 million and $9.2 million for the fourth quarter and twelve months ended December 31, 2007, respectively.

Included in the net loss (income) for the previous three years are the following large and/or unusual items:



    (In millions)                                  2008     2007     2006

    Impairment of goodwill                        $(122)      $-       $-
    Write-off of abandoned development projects     (96)     (28)      (1)
    Loss from discontinued operations               (37)     (52)       -
    Impairment of owned communities                 (37)      (8)     (15)
    Expenses relating to Accounting
     Restatement, Special Independent
     Committee inquiry, SEC investigation and
     pending stockholder litigation                 (30)     (52)      (3)
    Extraordinary loss due to consolidation of
     German venture                                 (22)       -        -
    Restructuring costs                             (18)       -        -
    Write-down of equity investments                (16)     (25)       -
    Loss on guarantees related to our
     condominium project                             (3)      (6)     (17)
    Loss on guarantees related to The
     Fountains venture                               (2)       -      (22)
    Write-off of intangible assets associated
     with buyout of management contracts              -        -      (25)
    Loss on guarantees related to our Germany
     venture                                          -      (16)     (50)
    Venture recapitalizations and refinancing        21       57       48
    Real estate gains deferred from prior
     years recognized in the current period   
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SOURCE Sunrise Senior Living, Inc.
Copyright©2009 PR Newswire.
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Related medicine news :

1. Sunrise to Host Conference Call and Webcast to Discuss Fourth-Quarter and Full-Year 2008 Financial Results
2. Sunrise Senior Living Helps Families Explore Senior Care Financing Options with New Guide
3. Sunrise Receives Proceeds from Venture Refinancing
4. Sunrise Reports Financial Results for Third Quarter 2008
5. Sunrise Provides Update on HCN Transaction
6. Sunrise to Host Conference Call and Webcast to Discuss the Companys Financial Results for the Third Quarter 2008
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