AAC Holdings, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported total revenue of $78,473,000 compared to $73,039,000 a year ago. This was due to increases in inpatient and outpatient facility revenues that's partially offset by a decrease in client-related diagnostic services revenue. Income from operations was $3,129,000 compared to $559,000 a year ago. Loss before income tax benefit was $3,589,000 compared to $2,209,000 a year ago. Net loss available to common shareholders was $202,000 or $0.01 per basic and diluted share compared to $603,000 or $0.03 per basic and diluted share a year ago. Net cash used in operating activities was $18,999,000 compared to net cash provided by operating activities of $4,356,000 a year ago. Purchase of property and equipment was $7,305,000 compared to $10,687,000 a year ago. Adjusted EBITDA was $15,144,000 compared to $12,659,000 a year ago. Adjusted net income available to common stockholders was $3,161,000 or $0.13 per diluted share compared to $2,767,000 or $0.12 per diluted share a year ago.

For the full year 2018, the company expects total revenues in range of $325-$340 million, Adjusted EBITDA in range of $68-$72 million and adjusted earnings per diluted common share in range of $0.75 - $0.80. The Company expects an annual effective tax rate of 24% to 26%.