May 15 2010
CRC Health Corporation ("CRC" or the "Company"), a leading provider of substance abuse treatment and adolescent youth services through its wholly owned consolidated subsidiaries, announced its results for the first quarter ended March 31, 2010.
“Reconciliation of Net Income (Loss) Attributable to CRC Health Corporation to Adjusted Pro Forma EBITDA for the Three Months Ended March 31, 2010 and 2009.”
The Company has two operating divisions: recovery division and healthy living division. The recovery division provides substance abuse and behavioral disorder treatment services through residential treatment facilities and outpatient treatment clinics. The healthy living division includes programs and treatment services for adolescent youth as well as treatment services for eating disorders, obesity, and weight management serving all age groups. Adolescent and youth treatment services include therapeutic boarding schools and educational outdoor programs for children and adolescents struggling with academic, emotional, and behavioral issues.
Consolidated net revenue for the first quarter ended March 31, 2010 increased $1.2 million or 1.1% to $104.0 million compared to the same period in 2009. For the first quarter of 2010, consolidated operating expenses decreased $2.2 million to $91.2 million, or 2.4% compared to the same period in 2009. First quarter 2010 adjusted pro forma earnings before interest, taxes, depreciation and amortization ("EBITDA") increased $2.3 million, or 12.4%, to $20.9 million compared to $18.6 million during the same period in 2009. "With our return to growth in our top line, we have demonstrated significant improvement in our operating margins due to the positive impact of our restructuring and cost reduction programs," said Barry Karlin, CEO.