Extendicare Announces 2017 Year End Results

Extendicare (TSX:EXE) reported results for the fourth quarter and year ended December 31, 2017. Results are presented in Canadian dollars unless otherwise noted.

As quoted in the press release:

• Revenue of $281.4 million up 1.6% or $4.5 million reflecting growth from all divisions moderated by impact of prior period funding of $2.2 million received in Q4 2016.
• Net operating income of $35.6 million up $1.9 million or 5.5% reflecting increased contributions from all divisions partially offset by favourable prior period accrual adjustments of $1.6 million recorded in Q4 2016.
• Earnings from continuing operations of $10.3 million ($0.12 per basic share) down $2.9 million, with improvements in operations offset by an unfavourable change in fair value adjustments and foreign exchange and lower interest revenue related to U.S. sale deferred consideration received in 2016.

Click here to read the full press release.