Revenue was up nearly 6 percent in the second quarter for Newton-based Five Star Quality Care, from $295 million during last year’s second quarter to $311.9 million for 2010.

However Five Star, a senior living and healthcare services company, saw income from operations drop slightly, to $8.2 million in the second quarter of this year to $9.3 million for the same period in 2009.

Some developments had a positive impact on the company, including a $4.2 million gain on holdings of auction-rate securities and a $418,000 gain on an early extinguishment of debt. These were offset by a $4 million loss on the company’s UBS put right related to auction-rate securities.

In 2009 those gains were greater, and included a $6.1 million gain on early extinguishment of debt.

Five Star reported that occupancy of its senior living facilities were roughly on par with 2009, standing at 86.2 percent for the second quarter of 2010. The daily rate for senior living rose nearly 2 percent, from $146.13 daily in 2009 to $148.67 for the second quarter of this year.

Five Star owns, leases or operates 213 senior living communities with 22,669 living units in 30 states. These include independent living, assisted living and skilled nursing communities.

Q2 Revenue Up for Five Star

by Banker & Tradesman time to read: 1 min
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