AAC Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017; Reaffirms Earnings Guidance for the Full Year 2017
For the nine months, the company reported total revenues of $231,505,000 compared to $207,418,000 a year ago. Income from operations was $11,219,000 compared to $614,000 a year ago. Loss before income tax benefit was $5,365,000 compared to $5,323,000 a year ago. Net loss was $4,906,000 compared to $4,438,000 a year ago. Net loss available to common stockholders was $1,757,000 or $0.08 per basic and diluted share compared to $1,067,000 0.05 per basic and diluted share a year ago. Net cash provided by operating activities was $14,030,000 compared to $1,316,000 a year ago. Purchase of property and equipment was $27,186,000 compared to $29,985,000 a year ago. Adjusted EBITDA was $42,079,000 compared to $36,617,000 a year ago. Adjusted net income available to the company common stockholders was $11,574,000 or $0.50 per diluted share compared to $12,802,000 or $0.57 per diluted share a year ago.
The company maintains its previously issued guidance for total revenue of $295 million to $305 million. The company maintains its previously issued full year 2017 guidance for adjusted EBITDA of $52 million to $54 million and its full year guidance for adjusted earnings per diluted common share of $0.50 to $0.58. The company expects an annual effective tax rate of 28% to 30%.