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Acadia Healthcare Reports Third Quarter Adjusted EPS Of $0.17 And EPS Of $0.16

Stocks in this article: ACHC

Acadia Healthcare Company, Inc. (NASDAQ: ACHC) today announced financial results for the third quarter ended September 30, 2012. Revenue for the third quarter was $103.1 million compared with $60.7 million for the third quarter of 2011. Income from continuing operations was $6.6 million for the third quarter of 2012, compared with $3.6 million for the third quarter of 2011. Income per diluted share from continuing operations of $0.16 for the third quarter of 2012, compared with $0.20 for the third quarter last year, reflected a 138.1% increase in weighted average shares outstanding, primarily due to Acadia’s public equity offerings in December 2011 and May 2012 and the completion of the PHC, Inc. acquisition in November 2011. Adjusted income from continuing operations was $7.1 million, or $0.17 per diluted share, excluding transaction-related expenses totaling $0.7 million, for the third quarter of 2012 compared with $5.8 million, or $0.33 per diluted share, excluding sponsor management fees and transaction-related expenses totaling $2.8 million, for the third quarter of 2011. A reconciliation of all GAAP and non-GAAP financial results in this release is on pages 8 and 9.

Revenue for the first nine months of 2012 was $293.2 million compared with $141.1 million for the first nine months of 2011. Income from continuing operations was $16.0 million, or $0.43 per diluted share, for the first nine months of 2012, compared with a loss from continuing operations of $18.4 million, or $1.05 per diluted share, for the same period in 2011. Adjusted income from continuing operations was $17.3 million, or $0.47 per diluted share, excluding transaction-related expenses totaling $2.1 million, for the first nine months of 2012 compared with a loss of $4.0 million, or $0.23 per diluted share, excluding sponsor management fees and transaction-related expenses totaling $11.7 million, for the first nine months of 2011.

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