Provides Preliminary Information on Recapitalizations, Asset Sales and
Anticipated Pre-Tax Charges
Provides Update on Accounting Restatement
MCLEAN, Va., Nov. 9 /PRNewswire-FirstCall/ -- Sunrise Senior Living, Inc. (NYSE: SRZ) today reported preliminary selected financial and operating data for the quarter ended September 30, 2007. The Company also provided preliminary information on recapitalizations, asset sales and anticipated pre- tax charges and an update on the Company's accounting restatement.
"We are pleased that, despite the current general economic uncertainty, we continue to serve more seniors, grow rates and attract investment by capital partners," said Paul Klaassen, chairman and CEO of Sunrise Senior Living. "These positive trends further encourage our commitment to development of additional future Sunrise communities."
-- As of September 30, 2007, Sunrise operated 454 communities with
capacity for more than 53,000 residents, located in the United States,
Canada, the United Kingdom and Germany.
-- During the quarter, Sunrise opened two new communities and began
construction on five new communities. As of September 30, 2007, the
Company had 40 communities under construction, with capacity for an
additional 6,000 residents. During the first three quarters of 2007,
the Company opened 15 new communities and started construction on 16
-- Revenue under management for the quarter increased 11.2 percent to
$608.8 million as compared to $547.3 million in the prior-year third
quarter. The measure "revenue under manage
|SOURCE Sunrise Senior Living, Inc.|
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