Assisted Living Concepts, Inc. Q3 2008 Earnings Call Transcript

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2008-11-09 07:36:12.0

Tags: Bebo, Call Transcript, Earnings, RBC Capital Markets, Assisted Living Concepts Inc., Seeking Alpha, Bebo, Call Transcript, Earnings, RBC Capital Markets, Assisted Living Concepts Inc., Seeking Alpha

Question-and-Answer Session

Operator

(Operator instructions) Our first question will come from Kevin Ellich from RBC Capital Markets. Please go ahead.

Kevin EllichRBC Capital Markets

Good morning, thanks for taking my questions. I guess the brief question I have is given the weak economy Laurie, I don’t know if you can give us a little bit of your insight as to how that is impacting occupancy and have you noticed any significant trends on that front?

Laurie Bebo

Good morning Kevin. I think our comments have been pretty similar to last quarter as far as – we are seeing some folks that will move out and go back home with their kids. Typically we are seeing things like where the housing and life may be ball parked in the past, we are seeing (inaudible) lost their job or perhaps has decided not to work due to the increasing gas prices, now those have come down, but for probably some different reasons we have seen that there are people that who have not been able to (inaudible) and they are trying to probably (inaudible) the family, so those kinds of situations are still going on and I don’t think that there is a trend that is any worse or better really than the second quarter of 2008.

Kevin EllichRBC Capital Markets

Okay, that’s helpful. Then going back to the comments about October where you saw the private pay move in, do you think that is really kind of the inflection point and do you think we have seen the bottom now?

Laurie Bebo

I think it is too early to call it a trend certainly Kevin but we were very pleased with taking the private occupancy (inaudible) October being the first month where we are actually seeing an overall increase in occupancy one month over the other while we are certainly (inaudible) about it, but I think it is a little too early to call it a specific trend.

Kevin EllichRBC Capital Markets

Okay thanks.

Laurie Bebo

Thanks Kevin.

Operator

Our next question is from Derrick Dagnan from Avondale Partners. Please go ahead.

Derrick DagnanAvondale Partners

Good morning. I wondered you just kind of characterized some of the occupancy numbers you gave us, it sounds like what happened, you had a drop in move-outs but the move-in rate was steady is that what you said on the call?

 

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