Nobilis Health Corp. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for the Year 2018
Total revenue for 2017 increased to $299.7 million, a 4.9% increase over $285.7 million reported in the prior year. Net income attributable to Nobilis for 2017 was $3.8 million, or $0.05 per fully basic and diluted share, as compared to $6.4 million, or $0.08 per fully basic and diluted share, in the same period the prior year. Absent the effects of recent tax reform legislation, net income for 2017 would have been $10.0 million. Income from operations was $22.3 million against $10.0 million reported last year. Income before income taxes and non-controlling interests was $23.3 million against $11.6 million reported last year. Adjusted EBITDA for the year ended 2017, which adds back certain non-cash and non-recurring expenses, was $41.4 million, a 21.9% increase over adjusted EBITDA of $34.0 million for the prior year. Net cash provided by operating activities was $26.4 million against $1.6 million reported last year. Purchase of property and equipment was $5.15 million against $5.5 million reported last year. EBITDA was $34.4 million against $23.8 million reported last year.
For the year 2018, the company expects revenue in the range of $345.0 million to $355.0 million and adjusted EBITDA of $57.0 million to $62.0 million. 2018 includes an estimate of approximately $28 million to $30 million in incremental revenue and $12 million to $14 million in incremental adjusted EBITDA for the Elite companies, which were added mid-November 2017. The company estimated tax rate to be approximately 20% for the year.