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AMERICAN RENAL ASSOCIATES ANNOUNCES SECOND QUARTER 2011 RESULTS
Beverly, Massachusetts (August 11, 2011) American Renal Associates Holdings, Inc., and its subsidiary American Renal Holdings, Inc. announced results today for the quarter ended June 30, 2011. Financial and operating highlights include:
Revenues Revenues for the three and six months ended June 30, 2011 were $89.6 million and $174.3 million, respectively, as compared to $74.1 million and $145.7 million, respectively, for the same periods in 2010.
Adjusted EBITDA(1) Adjusted EBITDA for the three and six months ended June 30, 2011 was $16.7 million and $31.0 million, respectively. This compares to Adjusted EBITDA on a pro forma basis(2) for the three and six months ended June 30, 2010 of $12.6 million and $25.1 million respectively.
Center Activity As of June 30, 2011, we provided services at 101 outpatient dialysis centers serving 6,913 patients. During the second quarter of 2011, we opened 4 new denovo centers.
Volume Total treatments for the second quarter of 2011 were 252,917 or 3,243 treatments per day, representing a per day increase of 20.3% over the second quarter of 2010. Non-acquired treatment growth was 15.2% in the second quarter.
American Renal Associates will hold a conference call to discuss its results for the second quarter ended June 30, 2011 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 pages 5 and 6.|
The following information was filed by American Renal Associates Holdings, Inc. on Thursday, August 11, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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