AAC Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for the Full Year 2018
For the year, the company reported total revenue was $317,641,000 compared to $279,770,000 a year ago. Loss from operations was $7,743,000 compared to $636,000 a year ago. Loss before income tax expense was $30,105,000 compared to $6,961,000 a year ago. Net loss attributable to company stockholders was $20,579,000 compared to $589,000 a year ago. Diluted earnings per common share were $0.88 compared to $0.03 a year ago. Net cash provided by operating activities was $19,292,000 compared to $143,000 a year ago. Purchase of property and equipment was $33,041,000 compared to $37,304,000 a year ago. Adjusted EBITDA was $57,148,000 compared to $47,749,000 a year ago. Adjusted net income attributable to company stockholders was $13,940,000 compared to $16,203,000 a year ago. Adjusted diluted earnings per common share were $0.60 compared to $0.71 a year ago.
The company introduced its guidance for the full year 2018. Total revenues are expected to be in the range of $325 million to $335 million. Adjusted EBITDA is expected to be in the range of $62 million to $65 million and adjusted earnings per diluted common share are expected to be in the range of $0.70 to $0.75. After adjusted for adoption of ASC 606 on January 1, 2018, total revenues are expected to be in the range of $290 million to $300 million, adjusted EBITDA is expected to be in the range of $62 million to $65 million and adjusted earnings per diluted common share are expected to be in the range of $0.70 to $0.75. The company expects an annual effective tax rate of 24% to 26%.