February 23, 2010 / 10:52 PM / 8 years ago

Extendicare REIT returns to profit in 4th quarter

* Profit of C$0.21/shr vs loss C$0.07 year ago

* Revenues slip, partly hurt by strong C$

TORONTO, Feb 23 (Reuters) - Extendicare Real Estate Investment Trust EXE_u.TO, a long-term care provider, said on Tuesday it returned to quarterly profit, while revenues were pressured by a stronger Canadian dollar.

The company, which operates 258 seniors’ care centers in Canada and the United States, said it earned C$15.7 million, or 21 Canadian cents per unit, compared with a loss of C$4.4 million, or 7 Canadian cents a share, a year ago.

Revenue slipped to C$522.5 million from C$559.7 million, hurt by a stronger Canadian dollar versus the greenback.

With cash on hand totaling C$134.0 million at year-end, Extendicare said it plans to refinance some of its debt and fund the redevelopment of existing properties.

$1=$1.055 Canadian Reporting by Ka Yan Ng; editing by Rob Wilson

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