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AMERICAN RENAL ASSOCIATES ANNOUNCES FOURTH QUARTER 2010 RESULTS
Beverly, Massachusetts (March 22, 2011) American Renal Holdings Inc., which operates as American Renal Associates, announced results today for the quarter ended December 31, 2010. Financial and operating highlights include:
Revenues Revenues for the three months ended and year ended December 31, 2010 were $81.9 million and $304.9 million, respectively, as compared to $69.9 million and $263.0 million, respectively, for the same periods of 2009.
Adjusted EBITDA(1) Adjusted EBITDA for the three months ended December 31, 2010 was $13.8 million. Adjusted EBITDA on a pro forma basis(2) for the year ended December 31, 2010 was $52.2 million. This compares to Adjusted EBITDA for the three months and year ended December 31, 2009 of $12.0 million and $45.3 million, respectively.
Center Activity - As of December 31, 2010, we provided services at 93 outpatient dialysis centers serving 6,628 patients. As of December 31, 2009, we provided services at 83 outpatient dialysis centers serving 5,405 patients. During the fourth quarter of 2010, we acquired 3 centers and opened 2 new denovo centers.
Volume - Total treatments for the fourth quarter of 2010 were 238,196 or 3,015 treatments per day, representing a per day increase of 19.7% over the fourth quarter of 2009. Non-acquired treatment growth was 16.1% in the fourth quarter.
American Renal Associates will hold a conference call to discuss its results for the fourth quarter ended December 31, 2010 today at 5:00 p.m. Eastern Time. The live call can be accessed by dialing either 1-877-407-8029 or 201-689-8029.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on managements current expectations, the accuracy of which is necessarily subject to risks and uncertainties. These statements are not historical in nature and use words such as anticipate, estimate, expect, project, intend, forecast, plan, believe, and other words of similar meaning in connection with any discussion of future operating or financial performance. Many factors may cause actual results to differ materially from anticipated results including product developments, sales efforts, income tax matters, the outcomes of contingencies such as legal proceedings, and other economic, business, competitive and regulatory factors. We undertake no obligation to update our forward-looking statements.
|(1)||This press release includes Adjusted EBITDA, Adjusted EBITDA including noncontrolling interests and Pro Forma Adjusted EBITDA, all of which are not financial measures defined by Generally Accepted Accounting Principles (GAAP). See Reconciliation of Non-GAAP Financial Measures section at the end of this press release for the definitions of these measures as well as their reconciliations to net income.|
|(2)||See discussion and reconciliation of historical to pro forma results on page 4.|
The following information was filed by American Renal Holdings Inc. on Tuesday, March 22, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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