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The Joint Corp. Reports 2014 Fourth Quarter and Full Year Financial Results
SCOTTSDALE, Ariz., March 19, 2015 – The Joint Corp. (NASDAQ: JYNT), a national healthcare operator and franchisor of chiropractic clinics, today reported financial results for the fourth quarter and full year ended December 31, 2014.
Fourth Quarter and Full Year Results Highlights
|•||Fourth quarter revenues increased 24.4% to $2.1 million.|
|•||Full year revenues increased 19.4% to $7.1 million|
|•||The number of clinics in operation increased to 246 at December 31, 2014, an increase of 16 clinics from September 30, 2014, and 71 clinics from December 31, 2013|
|•||Subsequent to year-end 2014, the Company began operating 11 corporate owned clinics by repurchasing franchises in California and Arizona|
“The Joint Corp. made excellent progress in the fourth quarter and full year 2014 in terms of revenue growth, clinic openings, and organizational development that will set the stage for continued strong growth,” remarked John Richards, chief executive officer of The Joint Corp. “We opened 16 clinics nationally during the fourth quarter and 71 for all of 2014, bringing the total number of clinics open at year end to 246. We are committed to building a national provider of chiropractic clinics through the accelerated development and acquisition of company owned clinics in concentrated clusters. To that end, since the beginning of 2015, we began operating 11 corporate owned clinics through repurchases of franchises and acquisitions in California and Arizona.”
Mr. Richards continued, “Our operations team is in place to manage our expected growth, including senior operational management personnel and our real estate investment team. And we are refocusing and upgrading our existing franchise base to improve operational and financial performance.”
Fourth Quarter 2014 Financial Results
Revenues increased 24.4% in the fourth quarter of 2014 to $2.1 million from $1.7 million in the fourth quarter the previous year as the number of clinics increased by 71, or 41%, to 246 at December 31, 2014, compared to the same period a year ago. Revenue growth was partially offset by a reduction in initial franchise fees as the result of three fewer clinics being opened during the fourth quarter of 2014 compared to the fourth quarter of 2013.
The following information was filed by Joint Corp (JYNT) on Thursday, March 19, 2015 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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