Extendicare REIT: Extendicare REIT Announces 2008 Second Quarter Results

MARKHAM, ONTARIO--(Marketwire - Aug. 7, 2008) - Extendicare Real Estate Investment Trust ("Extendicare REIT" or the "REIT") (TSX:EXE.UN) today reported 2008 second quarter results with the following highlights: - Continued improvement in average Medicare Part A and HMO/CI rates, up 7.4% and 6.9%, respectively, from Q2 2007. - Increase in same-facility skilled mix census to 25.3%. - Performance of acquisitions continues to improve. - Potentially favourable tax announcement concerning health care REITs. - U.S. congress announces reversal of planned Medicare cuts and 3.4% increase October 1, 2008. - Distributions remain unchanged at $0.0925 per month for 2008. Earnings before interest, income taxes, depreciation, amortization, and accretion (EBITDA) for the 2008 second quarter totalled $45.5 million compared to $53.7 million in... [read full story]