EX-99.1 3 d423496dex991.htm RE-ISSUED 2011 FORM 10-K, ITEM 6. Re-issued 2011 Form 10-K, Item 6.

Exhibit 99.1

Item 6. Selected Financial Data.

The selected financial data presented below for the years ended December 31, 2011, 2010 and 2009, and as of December 31, 2011 and 2010, is derived from our audited consolidated financial statements included elsewhere in this Annual Report on Form 10-K. The selected financial data for the years ended December 31, 2008 and 2007, and as of December 31, 2009, 2008 and 2007, is derived from our audited consolidated financial statements not included herein. The audited financial statements for the periods presented have been reclassified for discontinued operations. The selected consolidated financial data below should be read in conjunction with the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and with our consolidated financial statements and notes thereto included elsewhere in this Annual Report on Form 10-K. The selected financial data presented below does not give effect to the YFCS acquisition prior to April 1, 2011, the PHC acquisition prior to November 1, 2011, the Acadiana and Village facilities acquisitions prior to March 5, 2009 and November 2, 2009, respectively, and the Abilene facility acquisition prior to October 5, 2007 and therefore the selected financial data does not give effect to such acquisitions prior to the respective date of such acquisitions. On May 13, 2011, the Company elected to convert from a Delaware limited liability company to a Delaware corporation in accordance with Delaware law.

 

     YEAR ENDED DECEMBER 31,  
     2011     2010     2009     2008     2007  
     (In thousands, except per share data)  

Income Statement Data:

          

Revenue before provision for doubtful accounts

   $ 219,704      $ 64,342      $ 51,821      $ 33,353      $ 25,512   

Provision for doubtful accounts

     (3,206     (2,239     (2,424     (1,804     (991
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Revenue

     216,498        62,103        49,397        31,549        24,521   

Salaries, wages and benefits (1)

     152,609        38,661        32,572        23,722        19,588   

Professional fees

     8,896        1,675        1,827        952        1,349   

Other operating expenses

     37,096        11,857        10,446        6,948        7,736   

Depreciation and amortization

     4,278        976        967        740        522   

Interest expense, net

     9,191        738        774        729        992   

Sponsor management fees

     1,347        120        —          —          —     

Transaction-related expenses

     41,547        918        —          —          —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

(Loss) income from continuing operations, before income taxes

     (38,466     7,158        2,811        (1,542     (5,666

Income tax (benefit) provision

     (5,272     477        53        20        —     
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

(Loss) income from continuing operations

     (33,194     6,681        2,758        (1,562     (5,666

(Loss) gain from discontinued operations, net of income taxes

     (1,698     (471     119        (156     (5,227
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net (loss) income

   $ (34,892   $ 6,210      $ 2,877      $ (1,718   $ (10,893
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

(Loss) income from continuing operations per share basic and diluted

   $ (1.77   $ 0.38      $ 0.16      $ (0.09   $ (0.32

Balance Sheet Data (as of end of period):

          

Cash and cash equivalents

   $ 61,118      $ 8,614      $ 4,489      $ 45      $ 1,681   

Total assets

     412,996        45,395        41,254        32,274        23,414   

Total debt

     277,459        9,984        10,259        11,062        11,608   

Total equity

     96,365        25,107        21,193        15,817        7,135   

 

(1) 

Salaries, wages and benefits for the year ended December 31, 2011 includes $17.3 million of equity-based compensation expense.

 

1