AAC Holdings, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported total revenue of $73,039,000 compared to $65,348,000 a year ago. Income from operations was $559,000 compared to $1,406,000 a year ago. Loss before income tax benefit was $2,209,000 compared to $289,000 a year ago. Net loss available to common shareholders was $603,000 or $0.03 per basic and diluted share compared to net income available to common shareholders of $586,000 or $0.03 per basic and diluted share a year ago. EPS was down From the prior year period primarily due to increased operating expenses and increased interest expense. Net cash provided by operating activities was $4,356,000 compared to $4,279,000 a year ago. Purchase of property and equipment was $10,687,000 compared to $7,017,000 a year ago. Adjusted EBITDA was $12,659,000 compared to $12,013,000 a year ago. Adjusted net income available to common stockholders was $2,767,000 or $0.12 per diluted share compared to $4,353,000 or $0.20 per diluted share a year ago.

The company updated earnings guidance for the year 2017. The company updated its full year 2017 guidance to include a breakdown of its components of revenue. Total revenue for 2017 is expected to be approximately $295 million to $305 million. The company affirmed its previously issued guidance for adjusted EBITDA in the range of $52 million to $54 million and adjusted earnings per diluted common share in the range of $0.50 to $0.58. The company also continues to expect an annual effective tax rate of 37% to 39%.