AAC Holdings, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported total revenue was $72,352,000 compared to $58,282,000 a year ago. Loss from operations was $1,250,000 compared to $2,152,000 a year ago. Loss before income tax expense was $1,638,000 compared to $861,000 a year ago. Net loss was $1,303,000 compared to $638,000 a year ago. Net income attributable to company stockholders was $478,000 compared to $448,000 a year ago. Basic and diluted earnings per common share were $0.02 compared to $0.02 a year ago. Adjusted EBITDA was $11,132,000 compared to $9,389,000 a year ago. Adjusted net income attributable to company stockholders was $3,401,000 compared to $3,824,000 a year ago. Adjusted diluted earnings per common share were $0.15 compared to $0.17 a year ago. Revenues were positively impacted by acquisitions and de novo projects, as well as an increase in average daily residential census and outpatient visits at 18 standalone outpatient centers. Capital expenditures in the fourth quarter of 2016 totaled $7.3 million. Cash flows used in operations totaled $1.2 million for the fourth quarter of 2016 compared with cash flows provided by operations of $0.4 million in the prior year period.

For the year, the company reported total revenue was $279,770,000 compared to $212,261,000 a year ago. Loss from operations was $636,000 compared to income from operations of $14,228,000 a year ago. Loss before income tax expense was $6,961,000 compared to income before income tax expense of $13,121,000 a year ago. Net loss was $5,741,000 compared to net income of $8,341,000 a year ago. Net loss attributable to company stockholders was $589,000 compared to net income of $11,174,000 a year ago. Diluted earnings per common share were $0.03 compared to $0.48 a year ago. Net cash provided by operating activities was $143,000 compared to $6,193,000 a year ago. Purchase of property and equipment was $37,304,000 compared to $51,525,000 a year ago. Adjusted EBITDA was $47,749,000 compared to $44,277,000 a year ago. Adjusted net income attributable to company stockholders was $16,203,000 compared to $20,918,000 a year ago. Adjusted diluted earnings per common share were $0.71 compared to $0.97 a year ago.

The company introduced its guidance for the full year 2017. Revenues are expected to be in the range of $295 million to $305 million.   This estimate is based on average daily residential census of 890 to 900 and an average daily residential revenue of $725 to $750. Adjusted EBITDA is expected to be in the range of $52 million to $54 million and adjusted earnings per diluted common share is expected to be in the range of $0.50 to $0.58. Assumptions also include an annual effective tax rate of 37% to 39% and diluted weighted-average common shares outstanding of approximately 23 million for the year.