been approximately $213.7 million, representing a 4.1 percent increase
over the prior year.
-- The same-community occupancy rate was 90.6 percent for the quarter 2007
compared to 91.6 percent in the prior-year fourth quarter. The
occupancy rate for communities in ventures was 90.6 percent, down from
91.6 percent in the prior-year fourth quarter. For consolidated
communities, the occupancy rate was 90.7 percent, down from 91.6
percent in the prior-year fourth quarter. The decline in occupancy was
largely due to a decrease in occupancy for The Fountains communities.
In addition, as previously disclosed, the Company has identified
several existing markets and select communities that have shown
declines in occupancy and has put plans in place to address these
-- Sunrise's management believes that total revenue under management and
total same-community revenues, average daily rate, occupancy and
expenses are useful indicators of trends in Sunrise's management
business. For such data broken down by consolidated communities and
unconsolidated ventures, please refer to the Supplemental Information
attached. The preliminary financial data and operating metrics provided
herein are not necessarily indicative of the results of operations of
the Company for the three and twelve months ended December 31, 2007 and
2006. Because the Company's restatement of its financial statements
has not been completed, Sunrise is unable at this time to provide a
reasonable estimate of either its fourth-quarter 2007 or fourth-quarter
2006 results of operations.
Cash and debt
-- On December 31, 2007, Sunrise had approximately $320 million of cash
and cash equivalents. Of this balance approximately $1
|SOURCE Sunrise Senior Living, Inc.|
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