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Brookdale Announces Second Quarter 2010 Results and Record CFFO of $57.0 Million

Tuesday, August 3, 2010 Corporate News J E 4
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Three Months Ended June 30,

Six Months Ended June 30,

2010

2009

2010

2009

Net loss

$   (9,557)

$ (10,530)

$ (23,852)

$ (24,166)

Benefit for income taxes

(5,329)

(2,495)

(12,707)

(11,607)

Equity in earnings of unconsolidated ventures

(119)

(581)

(516)

(1,176)

Loss on extinguishment of debt

682

1,740

701

1,740

Other non-operating loss (income )

-

8

-

(4,224)

Interest expense:

-

-

-

-

   Debt

26,335

26,068

51,969

51,795

   Capitalized lease obligation

7,568

7,382

15,214

14,476

   Amortization of deferred financing costs

2,410

3,390

5,006

4,932

   Change in fair value of derivatives and amortization

2,207

(7,900)

4,847

(3,615)

Interest income

(453)

(328)

(1,080)

(1,148)

Income from operations

23,744

16,754

39,582

27,007

Depreciation and amortization

73,168

67,262

146,229

135,395

Change in future service obligation

(1,064)

-

(1,064)

-

Facility lease expense

67,175

68,434

135,424

136,175

General and administrative (including non-cash

    stock compensation expense)

31,834

31,721

63,786

65,428

Amortization of entrance fees

(5,787)

(5,232)

(11,526)

(10,342)

Management fees

(1,412)

(1,298)

(2,807)

(3,015)

Facility Operating Income

$ 187,658

$ 177,641

$ 369,624

$ 350,648

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