AAC Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Reaffirms Earnings Guidance for the Year 2017
For the six months, the company reported total revenue of $151,081,000 against $136,890,000 a year ago. Income from operations was $6,498,000 against $3,326,000 a year ago. Loss before income tax benefit was $4,540,000 against $554,000 a year ago. Net loss available to the company's common stockholders was $2,519,000 or $0.11 per diluted share against income of $1,458,000 or $0.06 per diluted share a year ago. Net cash provided by operating activities was $8,389,000 against $6,318,000 a year ago. Purchase of property and equipment was $18,665,000 against $19,745,000 a year ago. Adjusted EBITDA was $27,132,000 against $24,550,000 a year ago. Adjusted net income available to the company's common stockholders was $8,862,000 or $0.38 per diluted share against income of $8,477,000 or $0.38 per diluted share a year ago.
For the full year 2017, the company maintains its previously issued guidance for total revenue of $295 million to $305 million. The company maintains its previously issued full year 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 16% to 18%. The company expects the CapEx spend to be approximately $6 million to $8 million for the remainder of the year.