Newton assisted living and senior housing facility operator Five Star Quality Care Inc. has reported $688,000 in net income for the fourth quarter of 2009, compared to a net loss of $6.6 million for the same period in 2008.

In 2009, the company reported $39.3 million in net income compared to $615,000 in 2008. The influx was credited to a $34.6 million gain due to the early extinguishment of convertible senior notes, a $3.5 million unrealized gain on holdings of auction rate securities and a $795,000 gain on the sale of available for sale securities held by insurance companies, offset by a $2.9 million loss due to the impairment of investments in certain marketable securities held by insurance companies and a $2.8 million unrealized loss on UBS put right related to auction rate securities.

Senior living occupancy for the fourth quarter of 2009 was 86.1 percent compared to 87.7 percent for the same period in 2008. The senior living average daily rate for the fourth quarter of 2009 increased by 1.9 percent to $144.64 from $141.93 in the same period in 2008.

The percentage of senior living revenue derived from private and other resources for the fourth quarter of 2009 increased to 69.7 percent from 69.6 percent for the same period in 2008.

During the fourth quarter, the company also commenced leasing from Senior Housing Properties Trust 11 senior living communities with a total of 952 living units. Ten of these communities are assisted living communities and one is a continuing care retirement community which offers independent living, assisted living and skilled nursing services, according to a statement.