Brookdale Announces First Quarter 2011 Results

Wednesday, May 11, 2011 General News
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Three Months Ended March 31,

2011

2010

Net loss

$                        (12,305)

$                     (14,295)

Benefit for income taxes

(11,154)

(7,378)

Equity in earnings of unconsolidated ventures

(266)

(397)

Loss on extinguishment of debt, net

2,894

19

Other non-operating income

(817)

-

Interest expense:

   Debt

23,553

25,634

   Capitalized lease obligation

8,008

7,646

   Amortization of deferred financing costs and debt discount

2,704

2,596

   Change in fair value of derivatives and amortization

8

2,640

Interest income

(625)

(627)

Income from operations

12,000

15,838

Depreciation and amortization

71,782

73,061

Asset impairment

14,846

-

Facility lease expense

66,315

68,249

General and administrative (including non-cash

    stock-based compensation expense)

33,543

31,952

Amortization of entrance fees

(5,762)

(5,739)

Management fees

(1,405)

(1,395)

Facility Operating Income

$                        191,319

$                    181,966



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