Extendicare Inc. Achieves Record Medicare Census In First Quarter Results

MARKHAM, Ontario--(BUSINESS WIRE)--May 5, 2005--Extendicare Inc. (TSX:EXE.MV)(TSX:EXE.SV)(NYSE:EXE) released its financial results for the first quarter of 2005. - Q1 health care earnings of $0.26 per diluted share - Consolidated EBITDA margin of 12.1%; U.S. operations EBITDA margin of 13.6% - U.S. Medicare census increases to 18.8% - U.S. nursing home occupancy increases to 93.8% Extendicare Inc. today reported 2005 first quarter net earnings of $18.2 million ($0.26 per diluted Subordinate Voting Share) compared to $28.3 million ($0.40 per diluted Subordinate Voting Share) in the 2004 first quarter, which included an after-tax gain of $10.7 million ($0.16 per diluted share) on the sale of assets. Earnings from health care operations prior to the undernoted items rose to $18.4 million ($0.26 per diluted share) compared to $15.2 million ($0.21 per diluted share) in the 2004 first quarter.