Brookdale Senior Living Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. Total revenue for the first quarter was $712.3 million, an increase of $29.6 million or 4.3%, from the first quarter of 2012 of $682.7 million. This was driven by occupancy growth, strong pricing, returns on reinvestment in portfolio and growth in the company's ancillary services platform. First quarter 2013 total revenue is comprised of resident fee revenue of $624.4 million, which increased $27.8 million, or 4.7%, from the first quarter of 2012, management fee revenue of $7.6 million, which increased $0.2 million or 2.2%, from the first quarter of 2012, and managed community reimbursed costs of $80.3 million, which increased $1.6 million or 2.0%. Net income for the first quarter of 2013 was $3.6 million or $0.03 per basic and diluted common share compared to net loss of $10.5 million or $0.09 basic and diluted loss per share of prior year period. The net income for the quarter includes non-cash items for depreciation and amortization, non-cash stock-based compensation expense and straight-line lease expense, net of deferred gain amortization. Adjusted EBITDA was $110.3 million against $96.6 million of prior year period. For the quarter ended March 31, 2013, facility operating income was $204.2 million, an increase of $12.5 million or 6.5%, over the first quarter of 2012, and Adjusted EBITDA, excluding integration, transaction-related and EMR roll-out costs in 2013 and 2012, was $112.4 million, an increase of $11.9 million or 11.8%, over the first quarter of 2012. Cash from facility operations was $67.8 million for the first quarter of 2013, or $0.55 per share against $54.6 million of prior year period. CFFO, excluding integration, transaction-related and EMR roll-out costs for both periods, was $69.9 million for the first quarter of 2013 or $0.57 per share, an increase of $11.5 million or 19.6%, over CFFO of $58.5 million or $0.48 per share, for the first quarter of 2012. Income before income taxes was $4.7 million against loss before income taxes of $9.6 million of prior year period. Net cash provided by operating activities was $64.5 million against $45.7 million of prior year period. Additions to property, plant, and equipment and leasehold intangibles, net of related payables were $51.6 million against $41.5 million of prior year period. For the quarter, average occupancy was 88.5%, a 70 basis point increase from 87.8% in the first quarter of 2012 and down 20 basis points from the fourth quarter of 2012. Average monthly revenue per unit for the senior housing portfolio improved by 2.8% to $4,375 for the first quarter of 2013 from $4,257 for the first quarter of 2012. For the full year 2013, the company continues to expect cash from facility operations to range between $2.30 and $2.40 per share, excluding integration, transaction-related and EMR roll-out costs.

Brookdale Senior Living Inc., Q1 2013 Earnings Call, May 02, 2013

Brookdale Senior Living Inc. announced that they will report Q1, 2013 results at 5:00 PM, Eastern Standard Time on May 01, 2013