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November 23, 2009 10:18 AM ET
Healthcare Services
CRC Health Corporation

Company Overview

CRC Health Corporation provides substance abuse treatment services and youth treatment services in the United States. It operates through three divisions: Recovery, Youth, and Healthy Living. The Recovery division specializes in the treatment of chemical dependency and other behavioral health disorders on an inpatient residential and outpatient basis. Its services include inpatient/residential care, partial/day treatment, intensive outpatient groups, therapeutic living/half-way house environments, aftercare centers, and detoxification. This division also treats other addictions and behavioral disorders, such as chronic pain management, sexual compulsivity, compulsive gambling, mood disorders...

Detailed Description

20400 Stevens Creek Boulevard

6th Floor

Cupertino, CA 95014

United States

Founded in 1995

4,500 Employees

Phone:

408-998-7260

Fax:

408-367-0030

www.crchealth.com

Key Executives

Co-Founder
Age: 54
Co-Founder and Senior Vice President of Real Estate
Chief Financial Officer
Age: 51
President of Recovery Division
Age: 51
President of Healthy Living Division
Age: 61
Compensation as of Fiscal Year 2009.

Key developments for CRC Health Corporation

CRC Health Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2009; Reports Asset and Goodwill Impairment Charges for the Third Quarter

CRC Health Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported total net revenue of $114,724,000 compared to $123,471,000 for the same period last year. Operating loss was $5,182,000 compared to $120,922,000 for the same for the same period last year. Loss from continuing operations before income taxes were $16,701,000 compared to $134,033,000 for the same period last year. Loss from continuing operations, net of tax was $17,694,000 compared to $123,429,000 for the same period last year. Net loss attributable to the company was $18,869,000 compared to $139,934,000 for the same period last year. Cash flows provided by operating activities was $1,082,000 compared to $259,000 for the same period last year. Adjusted Pro forma EBITDA was $30,626,000 compared to $29,498,000 for the same period last year. For the nine months, the company reported total net revenue of $330,881,000 compared to $356,033,000 for the same period last year. Operating income was $21,510,000 compared to operating loss of $88,385,000 for the same for the same period last year. Loss from continuing operations before income taxes were $13,909,000 compared to $128,551,000 for the same period last year. Loss from continuing operations, net of tax was $15,080,000 compared to $120,194,000 for the same period last year. Net loss attributable to the company was $17,732,000 compared to $137,701,000 for the same period last year. Cash flows provided by operating activities was $29,559,000 compared to $21,090,000 for the same period last year. Adjusted Pro forma EBITDA was $74,978,000 compared to $77,595,000 for the same period last year. For the quarter, the company reported asset impairment of $2,257,000 and goodwill impairment of $24,919,000 against goodwill impairment of $142,238,000 a year ago.

CRC Health Corporation Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2009

CRC Health Corporation announced earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company's net revenue decreased $8.7 million or 7.3% to $111.4 million compared to the same period in 2008. Adjusted pro forma earnings before interest, taxes, depreciation and amortization ('EBITDA') decreased $0.9 million, or 3.4%, to $25.4 million compared to $26.3 million during the same period in 2008. Operating income was $16.9 million compared to $18.5 million a year ago. Income from continuing operations before income taxes was $5 million compared to $7.6 million a year ago. Income from continuing operations was $2.6 million compared to $4.4 million a year ago. Net income attributable to the corporation was $2.3 million compared to $3.8 million a year ago. EBITDA from continuing operations was $22.1 million compared to $24.9 million a year ago. Cash flows provided by operating activities were $25.8 million against $26.9 million for the same period a year ago. For the six months, the company's net revenue decreased $16.8 million or 7.2% to $217.2 million compared to the same period in 2008. Adjusted pro forma earnings for the six months ended June 30, 2009, adjusted before interest, taxes, depreciation and amortization ('EBITDA') decreased $4.0 million, or 8.3% to $44.2 million compared to $48.2 million during the same period in 2008. Operating income was $26.5 million compared to $32.6 million a year ago. Income from continuing operations before income taxes was $2.6 million compared to $5.54 million a year ago. Income from continuing operations was $2.41 million compared to $3.3 million a year ago. Net income attributable to the corporation was $1.14 million compared to $2.2 million a year ago. EBITDA from continuing operations was $35.8 million compared to $42.2 million a year ago. Cash flows provided by operating activities were $28.5 million against $20.8 million for the same period a year ago.

CRC Health Corporation, Q2 2009 Earnings Call, Aug-20-2009

CRC Health Corporation, Q2 2009 Earnings Call, Aug 20 2009

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