Motors
Search for a car
Source: http://www.chad.co.uk/community-news-halam-1-5055165
joe biden paul ryan Alex Karras houston texans houston texans BCS Rankings 2012 the walking dead
Sunday, November 4, 2012
Delayed by Hurricane Sandy, Dos Pueblos Mock-Trial Team Returns from NYC
Dos Pueblos High School mock-trial team members, from left, Madeleine Centrella, Hannah Cruz, Madeline Matthys and Nimisha Shinday arrive Thursday night in Santa Barbara ? trophies in hand. They competed in the world championships in New York City and were delayed returning home because of Hurricane Sandy. (Santa Barbara Unified School District photo)
Four members of the Dos Pueblos High School mock-trial team arrived back in Santa Barbara safe and sound Thursday night.
During the past week, the team participated in the Empire World Championship Mock Trial Invitational, and also felt the wrath of Hurricane Sandy.
Madeline Matthys, Nimisha Shinday, Hannah Cruz and Madeleine Centrella were embraced by friends and family at the Santa Barbara Airport.
Inside their luggage were two hard-won trophies ? one for the team?s second-place finish in the prestigious competition, and the second was Matthys? trophy for being the best defense attorney at the tournament.
In spite of being camped out at a Brooklyn hotel as they rode out the storm and an unusually long journey back to Santa Barbara, the four students were elated to be home and equally enthusiastic about the experience of forming new friendships and competing against 35 stellar teams from across the globe.
The rest of the team reached California later Thursday evening by way of Los Angeles International Airport. Santa Barbara Airbus transported those students and coaches back to Santa Barbara Barbara free of charge.
According to coach Bill Woodard, because of their extended stay in New York, the two California teams (Dos Pueblos and La Reina from Thousand Oaks) are hoping to work together to raise funds to pay the extra thousands of dollars needed to stay in New York until they were able to fly home.
Members of the Dos Pueblos mock-trial team are Alison Mally, Hannah Cruz, Nimisha Shinday, Madeline Matthys, Madeline Centrella, Delia Bullok, Camille Wyss, Sophia Zheng, Ami Thakrar, Bela Lafferty, Sean Strong. Coaches: Bill Woodard, Maureen Grattan, Joel Block and Scott Campbell.
? Barbara Keyani is the administrative services and communications coordinator for the Santa Barbara Unified School District.
Noozhawk's comments are moderated, but by posting here you accept your responsibility to follow our rules as part of Noozhawk's shared online community. Please keep your comments civil and helpful. Don't attack other readers personally, and do not use vulgar, abusive or discriminatory language. Use the "Report Abuse" link if a comment violates these standards or our Terms of Use
Source: http://www.noozhawk.com/schools/article/110212_dos_pueblos_mock-trial_team_returns_nyc/
Melky Cabrera Mayim Bialik Rich Kids of Instagram felix hernandez Ron Palillo julia child Texas A&m
Saturday, November 3, 2012
Rogers and CIBC kick off Canadian NFC-based mobile payments with mini event (update: full details)
Rogers and its banking partner CIBC have been making much ado over bringing NFC mobile payments to Canada since the spring, but the companies have been mostly silent on actual availability and let a rumored October 15th launch date pass by without fanfare. The two partners are at last ready to swing into action, at least symbolically -- a photo-op at a Tim Hortons in Toronto on Friday will officially represent the first instance of their payment system being used in the wild. What we've seen officially and otherwise hasn't changed, which means that event star and triathlete Simon Whitfield will be using one of two NFC-equipped BlackBerry phones with a special SIM card while he buys a meal that we imagine involves coffee and maple-glazed donuts. Rogers hasn't said how soon the less sporty among us will be making payments, although the limited choices of phones (two) and carriers (one) will only give a handful of Canucks a chance to join in.
Update: Just as Whitfield's coffee is cooling off, Rogers has given out full details: the CIBC mobile payment option will roll out later in the month to at least 2,300 Tim Hortons restaurants across Canada, with 3,000 more joining in by December. It's called Suretap, as the earlier leak confirmed, and there's no surprise support for Android, Windows Phone or other platforms.
Filed under: Cellphones, Mobile, RIM
Rogers and CIBC kick off Canadian NFC-based mobile payments with mini event (update: full details) originally appeared on Engadget on Fri, 02 Nov 2012 12:15:00 EDT. Please see our terms for use of feeds.
Permalink
CrackBerry, MobileSyrup | 
Canada Newswire, Rogers | Email this | Comments
Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/ZtQvrELskRM/
homeland packers giants game golden globe winners 2012 ricky gervais golden globes epidermolysis bullosa miss wisconsin law abiding citizen
Assisted Living Concepts, Inc. Announces Third Quarter Results ...
MENOMONEE FALLS, WI -- (Marketwire) -- 11/02/12 -- Assisted Living Concepts, Inc. ("ALC") (NYSE: ALC) reported a net loss of $4.0 million in the third quarter of 2012 as compared to net income of $5.8 million in the third quarter of 2011.
During the third quarters of both 2012 and 2011, ALC recorded One-Time Items described below. Excluding the One-Time Items, net loss in the third quarter of 2012 would have been $0.9 million as compared to net income of $5.6 million in the third quarter of 2011.
Revenues in the third quarter of 2012 were $55.6 million as compared to revenues of $58.6 million in the third quarter of 2011. Occupancy declined from 5,628 units in the third quarter of 2011 to 5,251 units in the third quarter of 2012.
"I am pleased to report significant progress in the regulatory arena," commented Dr. Charles "Chip" Roadman, President and Chief Executive Officer. "The Company has rehired a number of key former and experienced new employees which has resulted in enhanced services to our residents positioning the Company for future operating growth. These operating changes at the residence levels have resulted in a positive upward trend in occupancy levels starting in mid-September."
The Company announced today that as part of an operational review of certain of its residences and taking into account the recommendation of its Facility Review Committee, it will be commencing a process to divest its seven owned residences in New Jersey. If the New Jersey residences are divested, it is intended that the proceeds will be used primarily to pay down debt. The Board of Directors expects the process to be completed in the first quarter of 2013. The Board of Directors anticipates such a transaction will be accretive to earnings. In the first three quarters of 2012, the owned New Jersey residences had revenues of $2.7 million and a pre-tax loss of $1.1 million. Although the Company has received expressions of interest in respect of the New Jersey residences and will be conducting a divesture process, no assurance can be given that such a divestiture will be completed, the timing or the amount of proceeds from the divestiture of such residences. In addition, the Board is considering divestiture of certain closed and other underperforming residences.
The Company also announced today that a Special Committee of the Board would continue its strategic review process to explore corporate alternatives with a view to enhancing shareholder value. No assurance can be given that the process will result in a transaction or, if a transaction is undertaken, the timing or the terms of any such transaction.
For the first nine months of 2012, ALC reported a net loss of $23.5 million as compared to net income of $17.1 million in the first nine months of 2011.
Excluding the One-Time Items described below, net income in the first nine months of 2012 and 2011 would have been $11.0 million and $15.9 million, respectively.
Diluted earnings per common share for the third quarter and the first nine months ended September 30, 2012 and 2011 were:
Quarter ended Nine months ended September 30, September 30, 2012 2011 2012 2011 ------- -------- ------- -------- Diluted earnings (loss) per common share $ (0.18) $ 0.25 $ (1.02) $ 0.73 Pro forma diluted earnings (loss) per common share excluding One-Time Items $ (0.04) $ 0.24 $0.38 $ 0.68
One-Time Items (net of tax) in the quarter and nine months ended September 30, 2012 included:
1. Charges related to the purchase of 12 previously leased properties from Ventas Realty, Limited Partnership and MLD Delaware Trust relating to the write off of $22.7 million related to litigation settlement and a lease termination fee, $5.3 million write-off of operating lease intangible, and $0.6 million of deal costs, partially offset by $0.6 million of rental savings for the nine months ended September 30, 2012.
2. The write-off of construction costs associated with expansion projects that management has determined will not be completed. ($0.0 million and $0.3 million for the three and nine months ended September 30, 2012.)
3. Expenses incurred in connection with an internal investigation, litigation related to the Ventas transaction, public relations and quality committee projects. ($1.0 million and $2.0 million for the three and nine months ended September 30, 2012).
4. The write down of long-lived assets determined to be impaired ($2.1 million for the three and nine months ended September 30, 2012.)
One-Time Items in the nine months ended September 30, 2011 included:
1. A reduction in tax expense associated with the settlement of all issues associated with a tax allocation agreement with a subsidiary of our former parent Extendicare Inc. ($0.0 million and $0.8 million for the quarter and nine months ended September 30, 2011, respectively)
2. Income/expense associated with a mark to market adjustment for interest rate swap agreements ($0.1 million income and $0.1 million expense net of tax for the quarter and nine months ended September 30, 2011, respectively)
3. The write-off of deferred financing fees associated with our refinanced debt ($0.0 million and $0.2 million net of tax for the quarter and nine months ended September 30, 2011, respectively)
4. Gains on sales of equity investments ($0.0 million and $0.6 million net of tax for the quarter and nine months ended September 30, 2011, respectively)
5. Income associated with purchase accounting adjustments on repaid debt ($0.1 million and $0.1 million net of tax for the both the quarter and nine months ended September 30, 2011)
Certain non-GAAP financial measures are used in the discussions in this release in assessing the performance of the business. See attached tables for definitions of Adjusted EBITDA and Adjusted EBITDAR, reconciliations of net income to Adjusted EBITDA and Adjusted EBITDAR, calculations of Adjusted EBITDA and Adjusted EBITDAR as a percentage of total revenues, and non-GAAP financial measure reconciliation information.
As of September 30, 2012, ALC operated 211 senior living residences comprising 9,325 units.
The following discussions include the impact of the One-Time Items.
Quarters ended September 30, 2012, September 30, 2011, June 30, 2012
Revenues of $55.6 million in the third quarter ended September 30, 2012 decreased $3.0 million or 5.1 % as compared to $58.6 million in the third quarter of 2011 and decreased $1.3 million or 2.3% from $56.9 million in the second quarter of 2012.
Adjusted EBITDAR for the third quarter of 2012 was $8.2 million or 14.8% of revenues and
- decreased $13.1 million or 61.5% from $21.3 million and 36.4% of revenues in the third quarter of 2011; and
- decreased $8.8 million or 51.6% from $17.0 million and 29.8% of revenues in the second quarter of 2012.
Adjusted EBITDA for the third quarter of 2012 was $5.4 million or 9.7% of revenues and
- decreased $11.5 million or 68.1% from $16.9 million and 28.9% of revenues in the third quarter of 2011; and
- decreased $8.3 million or 60.6% from $13.7 million and 24.0% of revenues in the second quarter of 2012.
Third quarter 2012 compared to third quarter 2011
Revenues in the third quarter of 2012 decreased by $3.0 million from the third quarter of 2011 primarily due to a decrease in private pay occupancy ($3.3 million), and the planned reduction in the number of units occupied by Medicaid residents ($0.4 million), partially offset by rate increases ($0.7 million). Average private pay rates increased in the third quarter of 2012 by 1.2% from average private pay rates for the third quarter of 2011. Average overall rates, including the impact of improved payer mix, increased in the third quarter of 2012 by 1.7% from comparable rates for the third quarter of 2011.
Both Adjusted EBITDAR and Adjusted EBITDA decreased in the third quarter of 2012 primarily due to an increase in residence operations expenses ($8.1 million) (this excludes the gain on disposal of fixed assets), an increase in general and administrative expenses ($2.0 million) (this excludes non-cash equity based compensation) and a decrease in revenue ($3.0 million) partially offset, for Adjusted EBITDA only, a decrease in residence lease expense ($1.6 million) resulting from the June 15, 2012, purchase of twelve previously leased properties. Residence operations expenses increased primarily from an increases in labor expenses ($4.9 million), maintenance expense ($1.0 million), legal and consulting fees ($1.0 million), bad debt expense ($0.3 million), travel and conference fees ($0.2 million), food expense ($0.2 million) and other expenses ($0.5 million). General and administrative expenses increased as a result of an internal investigation, litigation and expenses incurred in connection with public relations and quality improvement initiatives.
Third quarter 2012 compared to the second quarter 2012
Revenues in the third quarter of 2012 declined by $1.3 million from the second quarter of 2012 primarily due to lower occupancy ($1.2 million) and lower average daily revenue as a result of promotional discounts ($0.7 million), partially offset by one additional day in the third quarter ($0.6 million). Average private pay rates declined in the third quarter of 2012 by 1.2% from average private pay rates for the second quarter of 2012.
Decreased Adjusted EBITDA and Adjusted EBITDAR in the third quarter of 2012 as compared to the second quarter of 2012 resulted primarily from an increase in residence operations expenses ($7.5 million) (this excludes the gain on disposal of fixed assets), a decrease in revenue discussed above ($1.3 million), and an increase in general and administrative expenses ($0.1 million) (this excludes non-cash equity-based compensation) partially offset for Adjusted EBITDA only, a decrease in residence lease expense ($0.5 million) resulting from the June 15, 2012, purchase of twelve previously leased properties. Residence operations expenses increased primarily from an increase in labor expenses ($4.7 million), utilities expense ($0.8 million), maintenance expense ($0.7 million), legal and consulting fees ($0.7 million, travel and conference fees ($0.4 million), and food expense ($0.2 million). General and administrative expenses increased as a result of an increase in payroll expense ($0.4 million) partially offset by a reduction in legal and consulting expenses ($0.5 million.).
Nine months ended September 30, 2012 and September 30, 2011
Revenues of $171.4 million in the nine months ended September 30, 2012 decreased $4.2 million or 2.4% from $175.6 million in the nine months ended September 30, 2011.
Adjusted EBITDAR for the nine months ended September 30, 2012 was $46.4 million, or 27.1% of revenues and
- decreased $16.3 million or 26.0% from $62.8 million and 35.7% of revenues in the nine months ended September 30, 2011.
Adjusted EBITDA for the nine months ended September 30, 2012 was $35.7 million, or 20.9% of revenues and
- decreased $13.8 million or 27.8% from $49.5 million and 28.2% of revenues in the nine months ended September 30, 2011.
Nine months ended September 30, 2012 compared to nine months ended September 30, 2011
Revenues in the nine months ended September 30, 2012 decreased by $4.2 million from the nine months ended September 30, 2011 primarily due to a decrease in private pay occupancy ($5.2 million), and the planned reduction in the number of units occupied by Medicaid residents ($1.3 million), partially offset by higher average daily revenue from rate increases ($1.7 million) and one additional day in the 2012 period due to leap year ($0.6 million). Average rates increased in the nine months ended September 30, 2012 by 1.6% over average rates for the nine months ended September 30, 2011.
Both Adjusted EBITDA and Adjusted EBITDAR decreased in the nine months ended September 30, 2012 primarily from an increase in residence operations expenses ($8.6 million) (this excludes the gain on disposal of fixed assets and write-off of construction costs), a decrease in revenues discussed above ($4.2 million) and an increase in general and administrative expenses ($3.5 million) (this excludes non-cash equity based compensation) and, for Adjusted EBITDA only, a decrease in residence lease expense ($2.5 million). Residence operations expenses increased primarily from an increase in bad debts. General and administrative expenses increased as a result of an internal investigation, an all-company conference, litigation and expenses incurred in connection with public relations and quality improvement initiatives. Residence operations expenses increased as a result of increased salaries and wages associated with quality restoration efforts initiated in June 2012 and an increase in professional fees from litigation and regulatory issues primarily in the southeast.
Liquidity
At September 30, 2012 ALC had availability of $13.3 million under its credit agreement. ALC owns 101 unencumbered residences that may be used to secure future capital needs.
Investor Call
ALC has scheduled a conference call for today November 2, 2012 at 10:00 a.m. (ET) to discuss its financial results for the third quarter. This earnings release will be posted on ALC's website at www.alcco.com. The toll-free number for the live call is 866-238-1422 or International 703-639-1159. A taped rebroadcast of the conference call will be available approximately three hours following the live call until midnight on December 2, 2012, by dialing toll free 800-475-6701, or international 320-365-3844; and using access code 270618.
About Us
Assisted Living Concepts, Inc. and its subsidiaries operate 211 senior living residences comprising 9,325 residents in 20 states. ALC's senior living facilities typically consist of 40 to 60 units and offer residents a supportive, home-like setting and assistance with the activities of daily living. ALC employs approximately 4,600 people.
Forward-looking Statements
Statements contained in this release other than statements of historical fact, including statements regarding anticipated financial performance, business strategy and management's plans and objectives for future operations, including management's expectations about improving occupancy and private pay mix, are forward-looking statements. Forward-looking statements generally include words such as "expect," "point toward," "intend," "will," "indicate," "anticipate," "believe," "estimate," "plan," "strategy" or "objective." Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. In addition to the risks and uncertainties referred to in the release, other risks and uncertainties are contained in ALC's filings with United States Securities and Exchange Commission and include, but are not limited to, the following: changes in the health care industry in general and the senior housing industry in particular because of governmental and economic influences; changes in general economic conditions, including changes in housing markets, unemployment rates and the availability of credit at reasonable rates; changes in regulations governing the industry and ALC's compliance with such regulations; changes in government funding levels for health care services; resident care litigation, including exposure for punitive damage claims and increased insurance costs, and other claims asserted against ALC; ALC's ability to maintain and increase census levels; ALC's ability to attract and retain qualified personnel; the availability and terms of capital to fund acquisitions and ALC's capital expenditures; changes in competition; and demographic changes. Given these risks and uncertainties, readers are cautioned not to place undue reliance on ALC's forward-looking statements. All forward-looking statements contained in this report are necessarily estimates reflecting the best judgment of the party making such statements based upon current information. ALC assumes no obligation to update any forward-looking statement.
ASSISTED LIVING CONCEPTS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In thousands, except per share data) Three Months Ended Nine Months Ended September 30, September 30, -------------------- -------------------- 2012 2011 2012 2011 --------- --------- --------- --------- Revenues $ 55,576 $ 58,553 $ 171,417 $ 175,589 Expenses: Residence operations (exclusive of depreciation and amortization and residence lease expense shown below) 42,314 34,545 111,865 103,144 General and administrative 4,792 2,928 13,649 10,558 Residence lease expense 2,834 4,430 10,683 13,225 Lease termination and settlement (25) -- 37,130 -- Depreciation and amortization 6,526 5,807 18,088 17,260 Intangible impairment -- -- 8,650 -- Asset impairment 3,500 -- 3,500 -- Transaction costs -- -- 1,046 -- --------- --------- --------- --------- Total operating expenses 59,941 47,710 204,611 144,187 --------- --------- --------- --------- (Loss)/income from operations (4,365) 10,843 (33,194) 31,402 Other (expense) income: Interest expense: Debt (2,321) (1,858) (5,660) (6,046) Change in fair value of derivatives and amortization -- 164 -- (94) Write-off of deferred financing costs -- -- -- (279) Interest income 3 2 8 8 Gain on sale of securities -- -- -- 910 --------- --------- --------- --------- (Loss)/income before income taxes (6,683) 9,151 (38,846) 25,901 Income tax benefit/(expense) 2,641 (3,388) 15,344 (8,851) --------- --------- --------- --------- Net (loss)/income $ (4,042) $ 5,763 $ (23,502) $ 17,050 ========= ========= ========= ========= Weighted average common shares: Basic 22,970 22,962 22,970 22,951 Diluted 22,970 23,236 22,970 23,261 Per share data: Basic earnings per common share $ (0.18) $ 0.25 $ (1.02) $ 0.74 Diluted earnings per common share $ (0.18) $ 0.25 $ (1.02) $ 0.73 Dividends declared and paid per common share $ 0.00 $ 0.10 $ 0.20 $ 0.20 Adjusted EBITDA (1) $ 5,385 $ 16,895 $ 35,749 $ 49,540 ========= ========= ========= ========= Adjusted EBITDAR (1) $ 8,219 $ 21,325 $ 46,432 $ 62,765 ========= ========= ========= ========= (1) See attached tables for definitions of Adjusted EBITDA and Adjusted EBITDAR and reconciliations of net income to Adjusted EBITDA and Adjusted EBITDAR ASSISTED LIVING CONCEPTS, INC CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share data) September 30, December 31, 2012 2011 ------------- ------------- ASSETS (unaudited) Current Assets: Cash and cash equivalents $ 2,653 $ 2,652 Cash and escrow deposits - restricted 2,688 3,150 Investments 1,967 1,840 Accounts receivable, less allowances of $3,534 and $2,903 respectively 4,679 4,609 Prepaid expenses, supplies and other receivables 3,438 3,387 Income tax receivable 12,210 606 Deferred income taxes 4,173 4,027 ------------- ------------- Total current assets 31,808 20,271 Property and equipment, net 486,385 430,733 Intangible assets, net 17 9,028 Restricted cash 2,036 1,996 Other assets 2,030 2,025 ------------- ------------- Total Assets $ 522,276 $ 464,053 ============= ============= LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 6,908 $ 7,086 Accrued liabilities 21,597 17,877 Deferred revenue 5,401 8,004 Current maturities of long-term debt 6,401 2,538 Current portion of self-insured liabilities 500 500 ------------- ------------- Total current liabilities 40,807 36,005 Accrual for self-insured liabilities 1,465 1,557 Long-term debt 173,858 85,703 Deferred income taxes 18,509 23,961 Other long-term liabilities 7,456 9,107 Commitments and contingencies ------------- ------------- Total Liabilities 242,095 156,333 Preferred Stock, par value $0.01 per share, 25,000,000 shares authorized; no shares issued and outstanding -- -- Class A Common Stock, $0.01 par value, 160,000,000 shares authorized at September 30, 2012 and December 31, 2011; 25,003,822 and 24,980,958 shares issued and 20,071,950 and 20,049,086 shares outstanding, respectively 250 250 Class B Common Stock, $0.01 par value, 30,000,000 shares authorized at September 30, 2012 and December 31, 2011; 2,898,516 and 2,919,790 shares issued and outstanding, respectively 29 29 Additional paid-in capital 317,236 316,694 Accumulated other comprehensive income 171 156 Retained earnings 39,340 67,436 Treasury stock at cost, 4,931,872 and 4,931,872 shares, respectively (76,845) (76,845) ------------- ------------- Total Stockholders' Equity 280,181 307,720 ------------- ------------- Total Liabilities and Stockholders' Equity $ 522,276 $ 464,053 ============= ============= ASSISTED LIVING CONCEPTS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In thousands) Nine Months Ended September 30, ---------------------- 2012 2011 ---------- ---------- OPERATING ACTIVITIES: Net (loss)/income $ (23,502) $ 17,050 Adjustments to reconcile net (loss)/income to net cash (used in)/provided by operating activities: Depreciation and amortization 18,088 17,260 Impairment of fixed assets 3,500 -- Impairment of operating lease intangible 8,650 -- Amortization of purchase accounting adjustments for leases (309) (544) Provision for bad debts 641 1,019 Provision for self-insured liabilities 765 765 (Gain)/loss on disposal of fixed assets (14) (95) Unrealized gain on investments (31) (910) Equity-based compensation expense 542 973 Change in fair value of derivatives and amortization -- 94 Deferred income taxes (5,600) 2,344 Changes in assets and liabilities: Accounts receivable (711) (2,126) Supplies, prepaid expenses and other receivables (51) (1,109) Deposits in escrow 462 (483) Accounts payable 182 (265) Accrued liabilities 3,720 749 Deferred revenue (2,603) 4,223 Payments of self-insured liabilities (845) (287) Income taxes payable / receivable (11,604) 856 Changes in other non-current assets 317 2,049 Other long-term liabilities (1,315) (273) ---------- ---------- Cash (used in)/provided by operating activities (9,718) 41,290 INVESTING ACTIVITIES: Payment for securities (163) (156) Proceeds on sales of securities 84 3,274 Payments for acquisition of 12 previously leased residences (62,870) -- Proceeds on sales of fixed assets 1,427 146 Payments for new construction projects (1,959) (523) Payments for purchases of property and equipment (13,823) (10,702) ---------- ---------- Cash used in investing activities (77,304) (7,961) FINANCING ACTIVITIES: Payments of financing costs (362) (1,903) Purchase of treasury stock -- (798) Repayment of borrowings on revolving credit facility (79,100) (63,000) Proceeds on borrowings from revolving credit facility 173,000 81,000 Repayment of GE credit facility -- (50,000) Repayment of mortgage debt (1,921) (5,061) Issuance of Class A common stock for stock options -- 262 Payment of dividends (4,594) (4,594) ---------- ---------- Cash provided by/(used in) financing activities 87,023 (44,094) ---------- ---------- Increase/(decrease) in cash and cash equivalents 1 (10,765) ---------- ---------- Cash and cash equivalents, beginning of year 2,652 13,364 ---------- ---------- Cash and cash equivalents, end of period $ 2,653 $ 2,599 ========== ========== Supplemental schedule of cash flow information: Cash paid during the period for: Interest $ 5,662 $ 5,915 Income tax payments, net of refunds 1,860 6,287 ASSISTED LIVING CONCEPTS, INC. Financial and Operating Statistics Continuing residences* Three Months Ended --------------------------------------- September 30, June 30, September 30, 2012 2012 2011 Average Occupied Units by Payer Source 5,251 5,365 5,628 ============= ========= ============= Average Revenue per Occupied Unit Day $ 115.05 $ 116.47 $ 113.09 ============= ========= ============= Occupancy Percentage* 59.5% 60.5% 62.4% ============= ========= =============
* Depending on the timing of new additions and temporary closures of our residences, we may increase or reduce the number of units we actively operate. For the three months ended September 30, 2012, June 30, 2012 and September 30, 2011 we actively operated 8,822, 8,873 and 9,015 units, respectively.
Same residence basis** Three Months Ended -------------------------------------- September 30, June 30, September 30, 2012 2012 2011 ------------- --------- ------------- Average Occupied Units by Payer Source 5,251 5,362 5,578 ============= ========= ============= Average Revenue per Occupied Unit Day $ 115.05 $ 115.38 $ 113.09 ============= ========= ============= Occupancy Percentage* 59.5% 60.8% 63.2% ============= ========= =============
** Excludes quarterly impact of 0, 78 and 194 units temporarily closed for renovation in the September 30, 2012, June 30, 2012 and September 30, 2011 three month periods, respectively.
Continuing residences* Nine Months Ended ---------------------------- September 30, September 30, 2012 2011 Average Occupied Units 5,365 5,602 ============= ============= Average Revenue per Occupied Unit Day $ 116.60 $ 114.81 ============= ============= Occupancy Percentage* 60.4% 62.3% ============= =============
* Depending on the timing of new additions and temporary closures of our residences, we may increase or reduce the number of units we actively operate. For the nine months ended September 30, 2012 and September 30, 2011 we actively operated 8,883 and 8,991 units, respectively.
Same residence basis** Nine Months Ended ---------------------------- September 30, September 30, 2012 2011 ------------- ------------- Average Occupied Units 5,313 5,536 ============= ============= Average Revenue per Occupied Unit Day $ 116.43 $ 115.01 ============= ============= Occupancy Percentage* 60.9% 63.4% ============= =============
** Excludes impact of 20 completed expansion units, 72 re-opened and 134 units temporarily closed for renovation in the 2012 year to date period and 217 units temporarily closed for renovation in the 2011 year to date period.
Non-GAAP Financial Measures
Adjusted EBITDA and Adjusted EBITDAR
Adjusted EBITDA is defined as net loss/income from continuing operations before income taxes, interest expense net of interest income, depreciation and amortization, equity based compensation expense, transaction costs and certain non-cash, gains and losses, including disposal of assets, impairment of goodwill and other long-lived assets, impairment of investments, impairment of intangibles and non-recurring lease termination and settlement fees. Adjusted EBITDAR is defined as Adjusted EBITDA before rent expenses incurred for leased assisted living properties. Adjusted EBITDA and Adjusted EBITDAR are not measures of performance under accounting principles generally accepted in the United States of America, or GAAP. We use Adjusted EBITDA and Adjusted EBITDAR as key performance indicators and Adjusted EBITDA and Adjusted EBITDAR expressed as a percentage of total revenues as a measurement of margin.
We understand that EBITDA and EBITDAR, or derivatives thereof, are customarily used by lenders, financial and credit analysts, and many investors as a performance measure in evaluating a company's ability to service debt and meet other payment obligations or as a common valuation measurement in the long-term care industry. Moreover, ALC's revolving credit facility contains covenants in which a form of EBITDA is used as a measure of compliance, and we anticipate EBITDA will be used in covenants in any new financing arrangements that we may establish. We believe Adjusted EBITDA and Adjusted EBITDAR provide meaningful supplemental information regarding our core results because these measures exclude the effects of non-operating factors related to our capital assets, such as the historical cost of the assets.
We report specific line items separately, and exclude them from Adjusted EBITDA and Adjusted EBITDAR because such items are transitional in nature and would otherwise distort historical trends. In addition, we use Adjusted EBITDA and Adjusted EBITDAR to assess our operating performance and in making financing decisions. In particular, we use Adjusted EBITDA and Adjusted EBITDAR in analyzing potential acquisitions and internal expansion possibilities. Adjusted EBITDAR performance is also used in determining compensation levels for our senior executives. Adjusted EBITDA and Adjusted EBITDAR should not be considered in isolation or as a substitute for net income, cash flows from operating activities, and other income or cash flow statement data prepared in accordance with GAAP, or as a measure of profitability or liquidity. We present Adjusted EBITDA and Adjusted EBITDAR on a consistent basis from period to period, thereby allowing for comparability of operating performance.
Adjusted EBITDA and Adjusted EBITDAR Reconciliation Information
The following table sets forth a reconciliation of net income to Adjusted EBITDA and Adjusted EBITDAR:
Three Months Ended Nine Months Ended ------------------------------- -------------------- September September June 30, September September 30, 2012 30, 2011 2012 30, 2012 30, 2011 --------- --------- --------- --------- --------- (in thousands) Net income (4,042) $ 5,763 $ (25,109) $ (23,502) $ 17,050 Add provision for income taxes (2,641) 3,388 (16,014) (15,344) 8,851 --------- --------- --------- --------- --------- Income before income taxes (6,683) $ 9,151 $ (41,123) $ (38,846) $ 25,901 Add: Depreciation and amortization 6,526 5,807 5,793 18,088 17,260 Interest expense, net 2,318 2,024 1,747 5,652 6,206 Non-cash equity based compensation 182 299 7 542 973 (Gain)/loss on disposal of fixed assets (433) (54) (112) (517) (95) Write-down of cost associated with expansion projects not completed - - 504 504 - Gain on sale of equity investments - - - (910) Recovery of purchase accounting associated with early termination of debt - (168) - (168) Write-off of operating lease intangible, lease termination fee and settlement (25) - 45,805 45,780 - Change in value of derivative and amortization - (164) - 94 Write-off of deferred financing fees - - 279 Asset impairment 3,500 3,500 Transaction costs 1,046 1,046 --------- --------- --------- --------- --------- Adjusted EBITDA 5,385 16,895 13,667 35,749 49,540 Add: Lease expense 2,834 4,430 3,306 10,683 13,225 --------- --------- --------- --------- --------- Adjusted EBITDAR 8,219 $ 21,325 $ 16,973 46,432 $ 62,765 ========= ========= ========= ========= =========
The following table sets forth the calculations of Adjusted EBITDA, Adjusted EBITDAR, Adjusted EBITDA and Adjusted EBITDAR as percentages of total revenue:
Three Months Ended Nine Months Ended ------------------------------- -------------------- September September June 30, September September 30, 2012 30, 2011 2012 30, 2012 30, 2011 --------- --------- --------- --------- --------- (dollars in thousands) Revenues 55,576 $ 58,553 $ 56,863 171,417 $ 175,589 ========= ========= ========= ========= ========= Adjusted EBITDA 5,385 $ 16,895 $ 13,667 35,749 $ 49,540 ========= ========= ========= ========= ========= Adjusted EBITDAR 8,219 $ 21,325 $ 16,973 46,432 $ 62,765 ========= ========= ========= ========= ========= Adjusted EBITDA as percent of total revenues 9.7% 28.9% 24.0% 20.9% 28.2% ========= ========= ========= ========= ========= Adjusted EBITDAR as percent of total revenues 14.8% 36.4% 29.8% 27.1% 35.7% ========= ========= ========= ========= ========= ASSISTED LIVING CONCEPTS, INC. Reconciliation of Non-GAAP Measures (unaudited) Three Three Nine Nine Months Months Months Months Ended Ended Ended Ended September September September September 30, 2012 30, 2011 30, 2012 30, 2011 (dollars in thousands except per share data) Net income $ (4,042) $ 5,763 $ (23,502) $ 17,050 Add one time charges: Expenses incurred in connection with internal investigation, public relations and Ventas litigation 1,685 3,275 Write-off of deferred financing costs - 279 Change in value of derivative net of amortization - 94 Asset Impairment 3,500 3,500 Loss on disposal of fixed assets related to expansion project 504 Loss on write off of lease intangible, termination and settlement fee and transaction costs (25) - 46,826 - Less one time credits: 906 Rent Settlement relating to tax allocation agreement - 750 Change in value of derivative net of amortization 164 - Gain on sale of equity investments - 910 Recovery of purchase accounting associated with early termination of debt 168 168 Net tax (expense) / benefit from charges and credits 2,038 (123) 21,014 (262) Pro forma net income excluding one-time charges and credits $ (920) $ 5,554 $ 8,683 $ 15,857 Weighted average common shares: Basic 22,970 22,962 22,970 22,951 Diluted 22,970 23,236 22,970 23,261 Per share data: Basic earnings per common share Net income $ (0.18) $ 0.25 $ (1.02) $ 0.74 Less: gain/ (loss) from one time charges and credits (0.14) .01 (1.40) 0.05 Pro forma net income excluding one-time charges and credits $ (0.04) $ 0.24 $ 0.38 $ 0.69 Diluted earnings per common share* Net income (0.18) $ 0.25 $ (1.02) $ 0.73 Less: gain/ (loss) from one time charges and credits (0.14) .01 (1.40) 0.05 Pro forma net income excluding one-time charges and credits (0.04) $ 0.24 $ 0.38 $ 0.68
* Per share numbers may not add due to rounding
Source: http://sox.ulitzer.com/node/2428721
bobby abreu 2012 draft colt mccoy arbor day mike adams janoris jenkins john edwards trial
Harden has 45, Rockets beat Hawks 109-102
ATLANTA (AP) ? The Houston Rockets are winning with James Harden performing like the team's new franchise player.
The Atlanta Hawks struggled in the start of their new era without their longtime franchise player.
Harden continued to shine at the start of his Houston career, scoring a career-high 45 points to lead the Rockets to a 109-102 victory over the Hawks on Friday night.
Harden, traded to the Rockets from Oklahoma City on Saturday, topped 30 points for the second time in his first week with his new team.
"He's pretty good, I'd say," Rockets coach Kevin McHale said. "He just kept battling and playing."
Jeremy Lin, who had 21 points, 10 rebounds and seven assists, said Harden makes a "big time" difference.
"He frees everybody up," Lin said. "He knows what he's doing. We're thankful that he showed up."
Marcus Morris had 17 points for Houston.
Rockets center Omer Asik had a career-high 19 rebounds but did not score, missing seven shots from the field.
Lou Williams led the Hawks with 22 points in his Atlanta debut. Josh Smith had 18 points and 10 rebounds.
Williams averaged a career-high 14.9 points per game with the Sixers last season when he was runner-up to Harden for NBA's Sixth Man of the Year Award.
Williams appears bound for another year as a sixth man. Harden is thriving in his new role as a starter.
"It's a lot different," Harden said. "Having the offense run basically through you, it's a lot different, but that's my job now so I've got to get used to it."
Harden said he wasn't focused on his impressive scoring in his first two games.
"I don't even worry about it," he said. "I just go out there and play hard."
The Hawks traded six-time All-Star Joe Johnson to the Brooklyn Nets in July for five players and a draft pick. Johnson averaged more than 20 points in five of his seven seasons as Atlanta's top player.
"We're still trying to establish an identity," Hawks coach Larry Drew said. "That may take a little time to do."
Drew said his team struggled in rebounding and on defense, especially in helping stop Harden's drives.
"When he gets the basketball in transition, he's going to get to the basket," Drew said. "It won't be just one guy's responsibility, it will be a team responsibility."
With the game tied 92-92, Harden had consecutive baskets, including a three-point play, to give Houston the lead for good. Chandler Parson's 3-pointer with 1:55 remaining pushed the lead to 100-94.
Harden was 14 of 19 from the field and 15 of 17 from the free throw line. Harden's 17 free-throw attempts matched Atlanta's total.
Harden, who signed a five-year, $80 million contract extension with Houston following the trade, had 37 points, 12 assists and six rebounds in a 105-96 win at Detroit in his debut on Wednesday night.
Houston led after each of the first three periods. The Rockets took a 68-52 lead in the third before Atlanta cut the deficit to 81-74 at the end of the quarter.
A basket by Smith with 7:12 remaining gave Atlanta an 88-87 lead, its first since the opening period.
"We were just trying to put together as many stops as we could," Williams said. "We battled our way back into the game to even get it to that point."
The Rockets are 2-0, but McHale said the team needs work on closing out wins.
"We need a few days together in the gym where we can slow some things down and figure out how we want to finish games," McHale said.
After a preseason of sampling lineup combinations, Drew had two newcomers ? Devin Harris and Kyle Korver ? join Al Horford, Smith and Jeff Teague. Drew said he had "a little indecision" about Harris starting at shooting guard as the coach worried about the defensive matchup with Harden, who at 6-foot-5 is at least 3 inches taller than Harris.
DeShawn Stevenson, who could match Harden's height ? and at least come close to matching Harden's beard ? became an important player off the bench for Atlanta.
Stevenson had 12 points on four 3-pointers, including one at the buzzer to end the first half.
Teague had 14 points and seven assists and Horford had 14 points.
The Rockets had a 58-36 advantage in rebounds.
"We have some things that we really have to focus in and work on," Drew said. "There were areas in this game where we weren't very good, very polished, particularly on the boards."
Drew said his perimeter players were beaten for too many long rebounds.
"We didn't play well, yet we gave ourselves a chance in fighting back," he said.
Notes: Houston F Patrick Patterson started after missing the opener with a strained left quad. C Greg Smith (strained left foot) did not play. ... Harden's previous career high was 40 points against the Suns on April 18. ... Hawks C Johan Petro was inactive. ... Stevenson fouled out in the final minute. ... Harden is the first player to score 40 points against Atlanta since LeBron James had 43 points on March 18, 2011.
Source: http://news.yahoo.com/harden-45-rockets-beat-hawks-109-102-021148600--spt.html
xbox live update joan rivers gary carter dies oolong tea survivor one world lil kim progeria
Local Voices ? Foolproof Advice For Home Improvement Projects
So you?ve made the decision to make home improvements. That?s a fantastic choice! It requires a lot of work to properly fix up your home. You need to do some research and educate yourself about home improvement before getting started. If you do not, you need to read the tips in this article.
Put some foil on your outlets if you are going to be painting. Conveniently placed aluminum foil can do a good job of protecting your covers from paint and is easier than tape to apply. It is so easy to clean up! Make sure your paint is fully dry before removing the foil.
What is your style? Identifying your decorating style will have a serious impact on the choices that you make. It?s very easy to change decorative styles in the middle of your project without ever recognizing it. At this point, it may be expensive to make any needed adjustments.
Do you, like millions of other people, suffer from ?hard? water? Filter the water in your home with a water softener. The system will remove magnesium and calcium deposits which cause the water to be hard. Water softening devices come in many different varieties, including those that use tablets. Once you decide you want to soften your homes water, examine the cost and convenience of possible methods for softening water in order to choose the best one for you.
Have an electrician install an electrical outlet in the cabinet above where you are going to have your microwave installed. This will give you a place to plug your microwave in that is not visible. Eliminating dangling cords is an easy way to improve the look of your kitchen.
As you hire a home improvement contractor, be certain to verify their insurance coverage. If they damage your home and have no insurance, your only recourse may be to take them to court in order to obtain the repair money. You simply need to discover whether the contractor is insured by asking to see insurance.
White tile or other light-colored materials are worth considering when it?s time to repair your roof. Dark colors absorb light and cause the attic to become extremely hot. Your attic will be cooler if you choose a light color for your new roof. When you use light colored tiles, you can comfortably enter your attic in the summertime.
Improve the entrance way to your home with a fresh splash of paint and new welcome rug. Your front entrance is the portal to your home and it is the first impression that guests get of your home. Simple touches like potted plants and a good looking welcome mat can really create a strong first impression.
Throw away anything you don?t need before beginning a project. Besides being a generally good idea, this will give you more room to move furniture and belongings around, speeding up the course of your project. Less clutter will make it easier to work.
Don?t forget about the lighting when you fix up your bathroom. Sometimes people focus more on the fixtures and don?t consider the lighting until it is too late. Design so you can have lights that surround you mirrors and your medicine cabinet, and consider adding ceiling lights that take bulbs that are easily replaceable.
Make sure that any landscaping projects you tackle are ones that will complement the style of your home and neighborhood. Choosing complimentary designs will give a professional and coordinated look to the addition of a new patio or garden.
If you didn?t know what to do in order to make home improvements, you do now. This is great! Re-read the tips from the article above a second time to ensure you will remember them when the time comes that you need them.
Source: http://www.packetinsider.com/blog/localvoices/?p=562
constitution day coachella 2012 dolly parton stephen colbert running for president richard threlkeld moonrise kingdom coachella lineup
Thursday, November 1, 2012
Video: More on October 31: Tangled up in blue?
Amid storm, Alzheimer's patient wouldn't leave
Amid the chaos of superstorm Sandy, an 89-year-old woman with Alzheimer?s disease rebuffed rescuers? efforts and refused to evacuate her New Jersey home this week, raising questions about her safety -- and about the dilemma posed by dementia patients during a disaster.
Source: http://www.msnbc.msn.com/id/3036697/vp/49628592#49628592
houston weather dwyane wade the night they drove old dixie down levon oklahoma city bombing robbie robertson the curious case of benjamin button
Subscribe to:
Posts (Atom)