Sunrise Senior Living loss widens
May 06, 2011 4:23 PMSunrise Senior Living Inc.’s reported that its loss widened in the fourth quarter.
The McLean-based company, which owns and manages senior living communities, reported a loss of $17.7 million, or 32 cents per diluted share, compared to a net loss of $16 million, or 29 cents per diluted share, in the first quarter of 2010.
Revenue fell during the quarter by 9.5 percent to $320.7 million, compared with $354.3 million in the same period last year.
During the first quarter, Sunrise consolidated its debt to $154.7 million, compared to $163 million on Dec. 31, 2010.
Sunrise is trying to reduce its administrative expenses, and eliminated 42 positions during the quarter.
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