Courtesy of Benzinga.
Sun Healthcare Group, Inc. (NASDAQ: SUNH) today announced its updated financial guidance for the year ending December 31, 2011.
Reissuance of 2011 Financial Guidance
Sun Healthcare announced the withdrawal of its full-year 2011 guidance on August 1, 2011 in order to have time to evaluate the impact of the final rule for skilled nursing facilities that was published by the Centers for Medicare and Medicaid Services on July 29, 2011. After completing that review, the Company is reissuing and updating its full year 2011 guidance. The significant changes include:
consolidated revenues are expected to be between $1.925 billion and $1.945 billion, compared to a previously expected range of $1.950 billion to $1.995 billion;
consolidated adjusted EBITDAR is expected to be between $237 million and $242 million, compared to a previously expected range of $259 million to $265 million; and
diluted earnings per share from continuing operations is expected to be between $0.83 and $0.94, compared to a previously expected range of $1.30 to $1.45.
