Nobilis Healthcare reported a 13.2 percent increase in fourth quarter revenue and 24.7 percent increase in full year 2016 revenue.
Here are five things to know:
1. Nobilis reported fourth quarter revenue reached $101.9 million, up 13.2 percent over the same period last year. Full year revenue hit $285.7 million, up 24.7 percent.
2. Fourth quarter net income was down considerably, hitting $9.4 million as compared to $44.7 million in the same period last year. The full year net income was $6.4 million, down from $50.8 million in 2015. The full year net income for 2015 included a $23.2 million tax income benefit.
3. Full year adjusted EBITDA was $34 million, compared to $40.4 million in 2015.
4. Nobilis owned or managed four acute care surgical hospitals, 10 ASCs and five clinics at the end of 2016. The company also had affiliations with 38 additional facilities.
5. The company expects revenue to hit $310 million to $325 million in 2017 and adjusted EBITDA to reach $40 million to $45 million.
The company didn't meet their profitability goals in 2016, although revenue grew 25 percent. "As we enter 2017, we will continue our mission to provide high quality surgical procedures across all of our brands and markets," said Nobilis CEO Harry Fleming. "We expect that the progress we have made integrating recently acquired facilities, coupled with the efforts to better target our marketing dollars and reduce certain operating expenses will support the strategic and financial goals for 2017."