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Sunrise Reports Financial Results for Third Quarter 2008
Date:11/7/2008

MCLEAN, Va., Nov. 7 /PRNewswire-FirstCall/ -- Sunrise Senior Living, Inc. (NYSE: SRZ) today reported financial results and operating data for third quarter 2008. Sunrise will host a conference call and webcast Friday, November 7, 2008 at 9:00 a.m. ET.

"This quarter was very difficult as we incurred a significant net loss," said Mark Ordan, Sunrise's chief executive officer. "Our team has been fully committed to grinding down cash outflows by reducing overhead, slashing development-related spending and selling or repositioning assets unsuited to the combination of today's capital market environment and our financial condition. We do not expect these efforts to distract us from our role as managers of senior living's leading brand portfolio and organization and we fully intend to become a leaner, stronger, growing company."

Financial Results for Third Quarter 2008

The Company reported revenues of $436.0 million for the third quarter of 2008 as compared to $429.5 million for the third quarter of 2007. Net loss for the third quarter 2008 was $68.7 million, or ($1.36) per fully diluted share, as compared to net income of $38.2 million, or $0.74 per fully diluted share, for the third quarter of 2007. The loss before income taxes and extraordinary loss for the third quarter was $90.1 million as compared to income before income taxes for the third quarter of 2007 of $55.9 million. Included in the (loss) income before income taxes and extraordinary loss for the three months ended September 30, 2008 and 2007 are the following large and/or unusual items:

Three Months Ended

September 30,

(In millions)
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SOURCE Sunrise Senior Living, Inc.
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