Provides Updates on Cash and Debt, Accounting Restatement, Anticipated
Pre-Tax Charges and Impairments and Other Matters
MCLEAN, Va., March 3 /PRNewswire-FirstCall/ -- Sunrise Senior Living,
Inc. (NYSE: SRZ) today reported preliminary selected financial and
operating data for the quarter ended December 31, 2007. The Company also
provided updates on its cash and debt, the accounting restatement,
anticipated pre-tax charges and impairments and other matters.
-- As of December 31, 2007, Sunrise operated 457 communities with capacity
for approximately 54,000 residents, located in the United States,
Canada, the United Kingdom and Germany.
-- During the quarter, Sunrise opened seven new communities and began
construction on 16 new communities.
-- For the year, Sunrise opened 22 communities with capacity for 2,600
additional residents and began construction on 32 new communities with
capacity for approximately 3,500 residents.
-- As of December 31, 2007, the Company had 45 communities under
construction, with capacity for an additional 5,800 residents.
-- For the fourth quarter 2007, revenue under management increased 7
percent to $616.7 million as compared to $576.1 million in the prior-
year fourth quarter. For 2007, revenue under management was $2,372
million, up over 8 percent from 2006 revenue under management of $2,192
million. The measure "revenue under management" is derived by
combining the revenues of Sunrise's consolidated communities,
communities owned in unconsolidated ventures and communities owned by
third parties that are manag
|SOURCE Sunrise Senior Living, Inc.|
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