AAC Holdings, Inc. Affirms 2015 Guidance
January 26 2016 - 5:00PM
Business Wire
AAC Holdings, Inc. (NYSE: AAC) anticipates it will report its
fourth quarter and full year 2015 financial and operating results
on February 23, 2016 and expects to report operating and financial
results within the previous guidance provided for the year ended
December 31, 2015. The Company will be speaking at investor
meetings later this week and will timely post a presentation on the
Investor Relations page of its website that includes an overview of
certain 2015 matters and a preview of certain 2016 business
objectives.
For the fourth quarter and full year 2015, the Company reports
the following:
- Client admissions of 2,462 for the
quarter and 7,763 for the year, up 93% and 64%, respectively, from
comparable periods a year ago
- Average daily residential census of 670
for the quarter, up 60% from a year ago
- Outpatient visits at our ten
stand-alone outpatient centers of 4,609 for the quarter and 13,160
for the year
- Bed count at December 31, 2015 of 897
compared with 493 a year ago
- Revenues, Adjusted EBITDA and Earnings
per diluted share are anticipated to be within the previously
issued guidance of $209 million to $212 million for revenues, $42
million to $43 million for Adjusted EBITDA and $0.89 to $0.91 for
adjusted earnings per diluted share for 2015. This outlook does not
include the impact of stock-based compensation, acquisition-related
expense, litigation settlement and California related expense, de
novo start-up expense or facility losses and closure expense
related to FitRx and the Academy.
“Our operating metrics continue to be strong across the board
leading to our anticipated full year results,” noted Michael
Cartwright, Chairman and Chief Executive Officer of AAC Holdings,
Inc. “New client admissions have enabled us to drive census at
River Oaks and our other facilities, including those acquired in
2015, while we remain at capacity on outpatient visits until new
facilities come online this year.”
Investor Earnings Conference Call
The Company will issue its fourth quarter 2015 earnings release
prior to the market opening on February 23, 2016 and host a
conference call and live audio webcast, both open for the general
public to hear, later that same day at 11:00 a.m. ET. The number to
call for this interactive teleconference is (412) 542-4144. A
replay of the conference call will be available one hour after the
call through March 2, 2016, by dialing (412) 317-0088 and entering
the replay access code: 10079603.
The live audio webcast of the Company’s quarterly conference
call will be available online in the Investor Relations section of
the Company’s website at www.americanaddictioncenters.org, and the
online replay will be available approximately one hour after the
end of the call.
About American Addiction Centers
American Addiction Centers is a leading provider of inpatient
substance abuse treatment services. We treat clients who are
struggling with drug addiction, alcohol addiction, and co-occurring
mental/behavioral health issues. We currently operate 18 substance
abuse treatment facilities. Located throughout the United States,
these facilities are focused on delivering effective clinical care
and treatment solutions. For more information, please find us at
AmericanAddictionCenters.org or follow us on Twitter
@AAC_Tweet.
Forward Looking Statements
This release contains forward-looking statements within the
meaning of the federal securities laws. These forward-looking
statements are made only as of the date of this release. In some
cases, you can identify forward-looking statements by terms such as
“anticipates,” “believes,” “could,” “estimates,” “expects,” “may,”
“potential,” “predicts,” “projects,” “should,” “will,” “would,” and
similar expressions intended to identify forward-looking
statements, although not all forward-looking statements contain
these words. Forward-looking statements may include information
concerning AAC Holdings, Inc.’s (collectively with its
subsidiaries; “Holdings” or the “Company”) possible or assumed
future results of operations, including descriptions of Holdings’
revenues, profitability, outlook and overall business strategy.
These statements involve known and unknown risks, uncertainties and
other factors that may cause our actual results and performance to
be materially different from the information contained in the
forward-looking statements. These risks, uncertainties and other
factors include, without limitation: (i) our inability to operate
our facilities; (ii) our reliance on our sales and marketing
program to continuously attract and enroll clients; (iii) a
reduction in reimbursement rates by certain third-party payors for
inpatient and outpatient services and point of care and definitive
lab testing; (iv) our failure to successfully achieve growth
through acquisitions and de novo expansions; (v) uncertainties
regarding the timing of the closing of acquisitions; (vi) the
possibility that a governmental entity may prohibit, delay or
refuse to grant approval for the consummation of acquisitions;
(vii) our failure to achieve anticipated financial results from
prior or pending acquisitions; (viii) a disruption in our ability
to perform definitive drug testing services; (ix) maintaining
compliance with applicable regulatory authorities, licensure and
permits to operate our facilities and lab; (x) a disruption in our
business related to the recent indictment of certain of our
subsidiaries and current and former employees; (xi) our inability
to agree on conversion and other terms for the balance of
convertible debt; (xii) our inability to meet our covenants in the
loan documents; (xiii) our inability to obtain senior lender
consent to exceed the current $50 million limit in unsecured
subordinated debt; (xiv) our inability to integrate newly acquired
facilities; (xv) a disruption to our business and reputational and
potential economic risks associated with the civil securities
claims brought by shareholders; and (xvi) general economic
conditions, as well as other risks discussed in the “Risk Factors”
section of the Company’s Annual Report on Form 10-K, and other
filings with the Securities and Exchange Commission. As a result of
these factors, we cannot assure you that the forward-looking
statements in this release will prove to be accurate. Investors
should not place undue reliance upon forward looking
statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20160126006720/en/
Investor Contact:SCR PartnersTripp Sullivan,
615-760-1104IR@contactAAC.comorMedia Contact:AAC Holdings,
Inc.Cynthia Johnson, 615-587-7728Mediarequest@contactAAC.com
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