This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Acadia Healthcare Reports Fourth Quarter And Full Year Results For 2011

Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced financial results for the fourth quarter and year ended December 31, 2011. For the quarter, revenue was $77.0 million. Adjusted net income from continuing operations for the quarter was $3.0 million, or $0.13 per diluted share, which excludes pre-tax costs of $28.4 million, primarily related to the acquisition of PHC, Inc. Including these pre-tax costs, there was a loss from continuing operations for the quarter of $14.7 million, or $0.66 per diluted share. A reconciliation of all GAAP and non-GAAP financial results in this release is on pages 7 and 8.

For the year, revenue was $221.4 million. Adjusted net income from continuing operations for 2011 was $11.7 million, or $0.52 per diluted share, which excludes pre-tax costs of $57.7 million, primarily related to acquisitions. Including these pre-tax costs, there was a loss from continuing operations of $32.9 million, or $1.75 per diluted share.

Joey Jacobs, Chairman and Chief Executive Officer of Acadia, commented, “We are very pleased with Acadia’s operating and financial performance for the fourth quarter and all of 2011. Primarily due to the acquisitions of Youth & Family Centered Services, Inc. in April and PHC in November, our fourth quarter revenue was nearly five times greater than our revenue in the fourth quarter of 2010. This growth reflected the increase in our inpatient behavioral health care operations to 29 facilities and approximately 2,000 beds at the end of 2011 from six facilities and approximately 400 beds at the end of 2010. With the addition of the three facilities acquired on March 1, Acadia now operates 32 behavioral facilities with more than 2,100 beds.

“We are well-positioned to produce significant profitable growth for 2012. In addition to favorable industry growth dynamics, we expect to drive organic revenue growth and margin expansion within our existing facilities through the addition of beds, the broadening of services, enhanced marketing programs and efficiency improvement initiatives. As demonstrated through the completion last week of our acquisition of three facilities with 166 acute inpatient psychiatric beds, we also expect to take advantage of continuing opportunities to pursue selective acquisitions in the highly fragmented market for behavioral health care services. With maintenance capital expenditures for 2012 expected at approximately 2% of revenues, we expect that strong free cash flow from operations combined with availability of approximately $70 million under our recently expanded revolving line of credit will support our acquisition strategy.”

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs