Delaware
|
1-12040
|
13-4230695
|
(State of Incorporation)
|
(Commission File Number)
|
(I.R.S. Employer
Identification No.)
|
18831 Von Karman, Suite 400
Irvine, CA
|
92612
|
(Address of principal executive offices)
|
(Zip Code)
|
99.1
|
Press Release dated January 4, 2012.
|
SUN HEALTHCARE GROUP, INC.
|
/s/ Jeffrey M. Kreger
|
Name: Jeffrey M. Kreger
|
Title: Senior Vice President and Corporate Controller
|
·
|
organic consolidated revenue growth of 4.1 percent offset by the impact of the CMS Final Rule, net of mitigation activities;
|
·
|
the reclassification of selected non-performing assets to held for sale status in 2012;
|
·
|
an increase in center lease costs of approximately 2.7 percent;
|
·
|
an effective income tax rate of 39 percent and 2012 cash income taxes of between $4 million and $6 million as a result of net operating loss carryforwards;
|
·
|
capital expenditures of between $35 million and $40 million;
|
·
|
depreciation and amortization expense of between $36.3 million and $36.7 million;
|
·
|
2012 interest expense of $17.5 million; and
|
·
|
no acquisitions.
|
(In millions, except EPS)
|
2012 Full-Year Guidance
|
||||||||
Low
|
High
|
||||||||
Revenue
|
$ | 1,902.0 | $ | 1,922.0 | |||||
EBITDAR
|
$ | 222.0 | $ | 228.0 | |||||
Margin
|
11.7 | % | 11.9 | % | |||||
Center rent expense
|
148.0 | 148.0 | |||||||
EBITDA
|
$ | 74.0 | $ | 80.0 | |||||
Margin
|
3.9 | % | 4.2 | % | |||||
Depreciation & amortization
|
36.7 | 36.3 | |||||||
Interest, net
|
17.5 | 17.5 | |||||||
Pre-tax earnings
|
$ | 19.8 | $ | 26.2 | |||||
Income tax expense
|
7.7 | 10.2 | |||||||
Income from continuing operations
|
$ | 12.1 | $ | 16.0 | |||||
Diluted earnings per share
|
$ | 0.45 | $ | 0.60 | |||||
Diluted weighted average shares
|
26.7 | 26.7 | |||||||
Free Cash Flow | $ | 5.0 | $ | 10.0 | |||||
&H/^$5A^&=QH+ZC_`&@GG"\DOHKD M'R>ICVQ%=V<[B/EQE@`<]X%_X*`^`?&DRZHG@_4%T.[T'Q/JVG:A93+=7'E: M#>1VM['+X+T3Q3H M\6F:Q;W4%]8ZJUPMLK7`*I%,AMI#*N654*M&\N2!XM\,/V$/VB/`?B34/B+X M(U_2?!WQ#U?P)XCTWQYXYM+PW%MXQUVY96TK5I++;M5K=_,D)95:)7^S)YL6 M&7;^`O[)VM?LRS>*M8\*?LZ'_A#_`!3HF@V6L_"C1?$%O>17>L)/+'J.LK]L MDBA"/`]N9!N62Y^SLSQB0@.`=_)^V\-,_9(\=?M5:U\$-?>/X?R:TNJZ%I5[ M:S&_CTQY%FN;*XE>*.XMV6-F63Y6(5@$W#:?7_$&K^*5\#7.N^"/#UKJ&L?V M<9]-TO4-0-M#/-LW+$\RQR&,$\;PC8ZX-?,5Q^Q9XY\._LB_M%_#+X4^#-.T M:Z^,C:N_A#P%%>QP:=X<%WI$&G*I,8,4/F2Q27DRPAE5[APGF$;W^I?"AU(^ M&-/_`+9TPV5V+*,7-H9ED\EPH#+N7AL'N.M`'BG@+]LGQ-\5?V8/AK\`/P MNL)O$GQ$U2ST[_A#K[Q!)"-,NB\HU""2X%LQ,EDMO=M(#&NXVLB@Y*Y]*B^/ MWPDDU.PTIO&4*MJFIR:;IMV;>86=Y?)O#6L-R4$,LH, >)+:;P5K&KW&L>`M#@5A+H]]JB1/K3,3\N)+JW$\9` MRIO+H9P^!SOAC]DWXK?\,I^`?V-/%:6'V3P'KOAQ_P#A-K>\!^VV&B:G;7MM M*D.T.EY.MG#'(IPD;2RNLDFU5<`]FT3]HSX,>)?!Z>//#OC5;[2W\2GP])/: M6-Q(]OJ@N_L;6DT:QEX)!5;O% MH?\`!0G]F36OVJ]%^&O@8?#C2O%'AS1_B9;:SXUTK6+Q(XKG2DL;VUEA56!\ MR1OM:D+\HPC?,IVY`/0_`'QA\5>)H?$?CWQ=X-T_0/`>G*\WA_Q% 26K0*+:#B383([.B!]JAA4GB7]J#X%>$=$T#Q)K7CM1I_BC1I=6T*] MM-.N;F*ZL8X5GDN`T,;!8UA=9"S8`4YZ`UY+X"^#_P"UMX:\+:A^RUXJU`ZU MX&M/$-K!X8^(MSKL4NM'PZH65[2]AFC=;B>-E^R"9BWGP,9)5\Q3YO%7W[$? M[1VL>#_"7P6L_%#:%I?@Q_&&EZ%XOM=2A>YATF]C9-*#VZQJK"*)D@DC4I\D M0*,I;Y`#ZIT'XO\`PS\3^,C\/_#WC*SO-7_L"WUR.S@ #9/B&OQ'T]=#C\4_P#".'59"RP-JGV\:=]F5R`' M;[8?(RN5W@C/RG'B.I?LW?M#^)?&OA;XE^&M!\._#_Q!X8\-Z3X=!T?4C<61 MTMC=Q:I:VX$:LL2++9W5KO529;"%75%W9R+/]BCXF>+/@CJ7[-7B6T;POX8& MI^-M1TR[\/:G;33K)J6HW;Z:BB>)]ABM+V; X;T*GYN*UO"/BO0 M?'7A;3O&GA:]:YTS5K**[T^Y:!XO-AD4.C[9`K*"I!Y`/-?/>H?L\?'OXLSV M_P`4?%]KI7@[XH:'X4TD>'?%.FWOVNW3542?^T;2:-0C3:;<,\:O&<,RJL@\ MJ:&)U]&^!MS\8_#FL6?PC\8>"=.BT'P_\/M%6/7K.ZF+2:J%DCNK;#QJLD:K M'$RR(2?F(<*2HH`R[3]I[Q!XN^/OBOX'?#3P9HVH77@/6-)M?%5KJ?B4VFH_ M9+V"" ..<@,TB>9);W$:X:,;^QTC]H#X4:_P"%;/QKHWB&XN-, MO_$,FAVMQ'H]WEM0CN)+:2`IY6Y"L\4D19@%#H5)S7C_`,;_`-FCQW\;_C=X M5^(]Q\-]'T'Q7X#\?65[X;^*>D:ILN)/#2S1RWFF3H`)G-Q%Y]JUN^^W^=;@ M,'`C&S\(O@I\6?!6A1_";7]!L&TK3OBGK7BB+Q!;ZD&%W9W6K7NJP0K"5#I< M+) VTVTUF#Q9J4]G?7$%O:W5KX3U.6-YIKN2 MSBAW);$"1KB*2((<,6`XY&;VB?M1?!?Q%XB?PEI6NZH^HQ"S-S:R^%M1C:V% MW<2VUN92]N!"'F@FC! %=/;7-%^*MG MK^JP)K"^5'91>(FU-BDA7YY##A0N`-YP2!\U;FO?!CXGI^U]XF^.NF>$Y[JP MO?#'AO3M#:#QC)9Q-<65SJLD[7=NF5EAVZA'MW+(VZ-\!/E8@'J/QH^+?AOX M(_#N_P#B#XE#2I;*$L[&)U66^N6XBMT+$*&9L# B\33^'OA3!\0/'%UX8O@UK9:-)YFV6U,@W732_9[QXD^3>EJY+*S M(K[W[6O[/>L_&KPK-K'A+QCK]EKVE^'M4L]!L--N+%;::>\@$)DD^V6TRHX3 M<@E7:ZQRS*I_>,#X)HW[!_[0_ACX1ZEX:TB^L+[6O'O[,^E_##Q+<:OJ,0&C M7UBM_'#>KY,*K<6PCU2Y&U560_9H`03)(Z`'LWB#]O#X:Z/XAU9].TB;4/"O MAOQ/H'A[Q+XMM[I!#9ZAK*VK6:I&1F6,+?V#2R97RQ>(0'VR;/0_C5^T'\"_ MV#%MXT^/\`\7_#?@O2+S48K"TU+Q/K,-E!-=29*0J\K*"Y"L<#LK'H"1\T MZK_P3M\9Z5X:\:?L[^#[JSD\"^/?B!X/\2W6M75Z1=:;#I$&C07=J8MN9'F3 M0[?RG!P#=REMODJ)?6/VZ?\`@GI^R]_P49^'.D?"W]J;P?>:MI6AZ['JVFC3 M]5ELY8KA4:,C?$02C([*RGL)/\` MA$M$DU1]*GU9K-+N%!E@LRPRX8CD?(0?4=:NWO[3/PF\,>*%^'7C[Q7!IGB2 M&+3!J-DMI=/;PS:@TD=G&MR85C8SS0RQ19(:21-@7?\`+7)_MV_`GQE\7_V& M?'/[-WP.\/6+ZGK_`(3?0]#M;R^%M;6RL@C4O(0Q"(H[!B<#BN%^*?[,7Q]^ M('[0VJ?';1-,TZ"TBT_P3/:>%-8U9&M-:GTB\U2ZGM[KRXW,+1O?P36TR%@+ MFS1G4Q\,`>XVW[1OP +2:.>ZTBX+"&]A1T# M31,RE `?V;O'/@+7?B/>QR6=UH=\^I7?PWT)9=DFG2ZJB7.I MQ2N %O&/@#X7^&=-\'^--/NU MNC9ZS8174=W%)$-AGL)UFCCDB)7S4W']U(D4B@'LFF?M4?`_6KVRT_2?$]]< M2W^B6.L6XB\-Z@0-/O)'CMKEV\C$43NC@,Y4#:2<`9KT)F5%+NP``R2>PKY= M\,_LY?'3PY\2]"^(&J^$(KNXTCX.^&=!5-&\:S65N^LZ? *Y M=/G\1PPNZ+/&L=I,MO#,R$PN[%G1E=DCW8KTVS^*'@Z;Q5:_#V_U>*U\37/A M[^VSX==MUU'9ATB>7:N 2!;@2"+S`JEO*6.[^!/[0U MS\:_"G[3MX;>3Q+IOB:XL= J+IMR1+/-=+:1($\OS,O<,L2_+@ MLRCN*L>&/CM\,?&7BR]\$^'-:O+C4-.U:?2[U6T2[CABO(8A+)`9GB$6\1LK M@;OF4@C(KY_L_@!^TK%^QSX;_9S;X ,_B?I_AA+VY\3_%9[N/3+CQM+!9 M1Z' 2?W@WQA M_1/VA_`EOXQTO1M2TSX/0>*?$NB:DUYX3N[G4191Z/>F)X_M,ERKB:*(I(R2 M"%9&='9#&P)%>,:I^S=\=?A!\#/!W[*?PK^%6@>/_!MK8W%Q\0[S7/%IT>7Q M!?SW+W5Q%Y0M;@"WN+F6>692>4<0_,C.:`/6Y/VCX?%WQ)@^$?P:\/QZSJT> MAV>L^(+W4+EK6TT2SN]_V592$9Y+J81RLENJCY(F:1X@T?F:.F_'JVO_`-I/ M5_V;IO`FKVUSI/@^U\0KKT[P&TO89[B6`1PJDC2[U>%]V]$[;=P.:^;?BA^P MA\:_B7=?%)M1T7PY;ZM\5M3\,^(=(\66NI,UQX#UFRL;*SNFMW:-976-;)9; M=X]IE:1XY5B0EV]QC\`?$^T_;=U3XRKX2@D\+S_#"UT*WO!J<8G>]BOKBZ(, M1Z1E9E4-G.Y3E=N&H`D\!_M1ZGXA_:,_X9R\!K5_#.H:AX-E\4>'+^YO8+ MB.]L8;F&VGCF6,YMKF-[FW)C.]2LF0Y*LH] /@/X M2T>?5;22VEU_3/'+ZA):6$,K-9Z=!;FRBV@F5Y993(2\F[Y=OE)%[Q0`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` 64444`%%%%`!1110`4444`%%%%`'_V3\_ ` end