November 4, 2010 / 2:36 PM / in 9 years

UPDATE 1-Sunrise Senior posts Q3 profit, shares jump

* Q3 shr $0.33 vs $-0.88, last yr

* Q3 rev $383.3 mln, up 6 pct

* Shares up as much as 14 pct

Nov 4 (Reuters) - Sunrise Senior Living Inc SRZ.N swung to a profit in its third quarter, helped by buyout fees related to a settlement with HCP Inc (HCP.N), sending the stock up 14 percent.

Earlier this year, the company received $40 million from HCP as it gave HCP the right to terminate Sunrise as manager of 27 communities owned by HCP. [ID:nSGE67U0KQ]

For the quarter, the provider of senior living services recognized the $40 million as buyout fee revenue.

Total revenue in the quarter rose 6 percent to $383.3 million.

Sunrise Senior earned a profit of $18.7 million, or 33 cents a share, compared with a loss of $44.4 million, or 88 cents a share, in the year-ago quarter.

Shares of the company were up about 10 percent at $3.72 in morning trade on the New York Stock Exchange. They have risen about 53 percent since settling lawsuits with HCP in August. (Reporting by Suzannah Benjamin in Bangalore; Editing by Jarshad Kakkrakandy)

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