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North America Real Estate - Earnings and Guidance
Extendicare REIT reports Q3 results
November 04, 2009 6:55 PM ET
By Moira Dickinson

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Extendicare REIT on Nov. 4 reported FFO from continuing operations of C$30.1 million, or 41.3 Canadian cents per share, compared to C$18.4 million, or 24.8 cents per share, in the year-ago period.

AFFO from continuing operations totaled C$30.2 million, or 37.1 cents per share, compared to C$19.2 million, or 24.3 cents per share, a year ago.

The Thomson First Call mean FFO-per-share estimate for the quarter was 30 cents, according to SNL Financial.

EBITDA grew 39.2% year over year in the third quarter to C$71.1 million. Revenue grew 8.5% to C$532.1 million. Exclusive of the impact of the weaker Canadian dollar, revenue grew 4.6%, of which approximately C$17.6 million was due to growth in same-facility operations of 3.6% quarter over quarter as a result of funding improvements, partially offset by lower U.S. occupancy levels.

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