Skilled Healthcare Reports Record EPS

February 10, 2009

February 10, 2009
Skilled Healthcare Group, the first operating company to release fourth quarter and full year 2008 earnings results, reported record diluted earnings per share for the full year 2008 as well as a solid fourth quarter. Diluted earnings per share in 2008 were $1.01, or almost triple that of 2007 on a 15.6% increase in revenues. The fourth quarter of 2008 saw diluted earnings per share jumping by 47% from the year-ago quarter.

The adjusted EBITDA margin in the fourth quarter increased by 80 basis points from the year-ago quarter despite occupancy declining by 50 basis points to 84.5% in the fourth quarter. All in all, this was a solid performance at a time when investors are uncertain about the future of corporate profits. There was no uncertaintly in terms of how investors viewed this news, however, as they sent Skilled Healthcare's shares up by 20% in morning trading today.

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