Kimberly Lody | President and Chief Executive Officer |
Carey Hendrickson | Senior Vice President, Chief Financial Officer |
Chad Vanacore | Stifel |
Good day, and welcome to the Capital Senior Living, Fourth Quarter and Full Year 2018 Earnings Release Conference Call. Today's conference is being recorded. The forward-looking statements in this release are subject to certain risks and uncertainties that could cause results to differ materially, including but not to the company's ability to generate sufficient cash flow to satisfy its debt and lease obligation and to fund the company's capital improvement projects to expand, redevelop or reposition it senior living community, the company's ability to obtain additional capital on terms acceptable to it, the company's ability to extend or refinance existing debt as such debt matures, the company's compliance with its debt and lease agreements, the company's ability to complete acquisition and disposition upon favorable terms to all, the risk of oversupply and increased competition in the markets which the company operates, the risk of increased competition for skilled workers due to wage pressure and changes in regulatory requirement. The departure of the company's key officers and personnel, the cost and difficulty of complying with applicable licensure, legislative oversight or regulatory changes, the risk associated with a decline in economic conditions generally, the adequacy and continued availability of the companies insurance policies, and the company's ability to recover any losses it sustains under such policy. Changes in accounting principles and interpretations and the other risks and factors identified from time to time in the company's reports filed with the Securities and Exchange Commission.