AAC Holdings, Inc. Reports First Quarter 2019 Results

Thursday, May 9, 2019 General News
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Q4 2018 and Q1 2019 Cost Savings Initiatives Expected to Result in Over $30 Million of Annualized Cost Savings and Leading to a 20% Decrease in Operating Costs Sequentially

AAC HOLDINGS, INC.

SUPPLEMENTAL RECONCILIATION OF NON-GAAP DISCLOSURES

Unaudited

(Dollars in thousands, except share data)

Reconciliation of Adjusted Net (Loss) Income Attributable to AAC Holdings, Inc. Common Stockholders to Net (Loss) Income Attributable to AAC Holdings, Inc. Common Stockholders

Three Months Ended

March 31, 2019

March 31, 2018

Net (loss) income attributable to AAC Holdings, Inc. common stockholders

$

(22,019)

$

1,056

Non-GAAP Adjustments:

Litigation settlement, regulatory and

California matter related expense

(988)

3,202

Acquisition-related expense

28

429

De novo start-up and other expense

—

428

Transaction costs

1,517

—

Recruitment and retention expense

375

—

Employee severance expense

1,098

911

Facility closure operating losses and expense

647

792

Income tax effect of non-GAAP adjustments

(4)

(2,399)

Adjusted net (loss) income attributable to AAC Holdings, Inc. common stockholders

$

(19,346)

$

4,419

Weighted-average common shares outstanding - diluted

24,495,163

23,781,604

GAAP diluted (loss) income per common share

$

(0.90)

$

0.04

Adjusted (loss) earnings per diluted common share

$

(0.79)

$

0.19

 

Management defines adjusted net (loss) income attributable to AAC Holdings, Inc. common stockholders as net (loss) income attributable to AAC Holdings, Inc. common stockholders adjusted for litigation settlement, certain regulatory and California matter related expenses, acquisition-related expense (which includes professional services for accounting, legal, valuation services and licensing expenses), de novo start-up and other expenses, recruitment and retention expense, employee severance expense, facility closure operating losses and expense and the income tax effect of the non-GAAP adjustments at the then applicable effective tax rate.

 

Adjusted diluted earnings per common share represents diluted earnings per common share calculated using adjusted net income attributable to AAC Holdings, Inc. common stockholders as opposed to net income attributable to AAC Holdings, Inc. common stockholders.



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