Author Topic: CRC's 10Q, Sept 2010 (They're about to give up on Aspen)  (Read 5119 times)

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Offline Whooter

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Re: CRC's 10Q, Sept 2010 (They're about to give up on Aspen)
« Reply #15 on: December 05, 2010, 07:17:46 PM »
If you look at the Residential programs compared to 2009 they continue to increase in revenue (just at a slower pace then forecasted).  

The $1.4 million, or 4.0%, increase within the healthy living division was driven by increases of $1.9 million and $0.6 million within weight management and outdoor programs, respectively, offset by a decrease of $1.0 million in residential facilities.


As you can see within the Healthy Living division the outdoor programs are recovering much more quickly then the Residential Programs and Weight management.

Bottom line is that after expenses the Net revenue per patient per day increased from $352 to $356.  So CRC is making big money off of Residential Treatment facilities, just lower than they had forecast.

So its evident that CRC still enjoys Residential treatment as a "cash cow" and probably is not looking to sell it off at this point.




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« Last Edit: December 31, 1969, 07:00:00 PM by Guest »

Offline Ursus

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Re: CRC's 10Q, Sept 2010 (They're about to give up on Aspen)
« Reply #16 on: December 05, 2010, 07:43:37 PM »
Quote from: "Whooter"
If you look at the Residential programs compared to 2009 they continue to increase in revenue (just at a slower pace then forecasted).  

The $1.4 million, or 4.0%, increase within the healthy living division was driven by increases of $1.9 million and $0.6 million within weight management and outdoor programs, respectively, offset by a decrease of $1.0 million in residential facilities.


As you can see within the Healthy Living division the outdoor programs are recovering much more quickly then the Residential Programs and Weight management.

Bottom line is that after expenses the Net revenue per patient per day increased from $352 to $356.  So CRC is making big money off of Residential Treatment facilities, just lower than they had forecast.

So its evident that CRC still enjoys Residential treatment as a "cash cow" and probably is not looking to sell it off at this point.
Link, please?

Incidentally, I'm not sure where you get the idea that the outdoor programs are any kind of significant money maker from the material you quote above (in green). They're barely exceeding the break even point. It's the fat farms that are pulling this entire train:

    SUMMARY:
      + $1.9 M — weight management
      + $0.6 M — outdoor programs
      - $1.0 M — residential facilities
« Last Edit: December 31, 1969, 07:00:00 PM by Guest »
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Offline Whooter

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Re: CRC's 10Q, Sept 2010 (They're about to give up on Aspen)
« Reply #17 on: December 05, 2010, 07:51:39 PM »
Quote from: "Ursus"
Quote from: "Whooter"
If you look at the Residential programs compared to 2009 they continue to increase in revenue (just at a slower pace then forecasted).  

The $1.4 million, or 4.0%, increase within the healthy living division was driven by increases of $1.9 million and $0.6 million within weight management and outdoor programs, respectively, offset by a decrease of $1.0 million in residential facilities.


As you can see within the Healthy Living division the outdoor programs are recovering much more quickly then the Residential Programs and Weight management.

Bottom line is that after expenses the Net revenue per patient per day increased from $352 to $356.  So CRC is making big money off of Residential Treatment facilities, just lower than they had forecast.

So its evident that CRC still enjoys Residential treatment as a "cash cow" and probably is not looking to sell it off at this point.
Link, please?

Incidentally, I'm not sure where you get the idea that the outdoor programs are any kind of significant money maker from the material you quote above (in green). They're barely managing to break even. It's the fat farms that are pulling this entire train.

Link

"Healthy Living Division
" is near the end (last 1/4 on your scroll bar to save you time).

You are right it is the Weight Management that is pulling all the weight (no pun intended) in the Healthy Living at this time, although outdoor Programs are outpacing Residential in their recovery.



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« Last Edit: December 31, 1969, 07:00:00 PM by Guest »

Offline Pile of Dead Kids

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Re: CRC's 10Q, Sept 2010 (They're about to give up on Aspen)
« Reply #18 on: December 06, 2010, 04:06:15 AM »
Quote from: "Ursus"
Incidentally, I'm not sure where you get the idea that the outdoor programs are any kind of significant money maker from the material you quote above (in green). They're barely exceeding the break even point. It's the fat farms that are pulling this entire train:

    SUMMARY:
      + $1.9 M — weight management
      + $0.6 M — outdoor programs
      - $1.0 M — residential facilities

Ursus, bullshit from Whooter is expected, but it's important to remember how deeply it is bullshit. He cited the wrong patient-day revenue (before expenses), and those other numbers are the change in revenue before expenses compared to the same 3 months in 2009. And the expenses of the entire "healthy living" division went up $2.5 million during those three months. But CRC isn't kind enough to break down its expense numbers for us, so we can't reach in and say how much Aspen is making- or, more likely, losing- versus the other parts of that division. CRC's descriptions of Aspen specifically might give us some clues there, though... :D

I also made a mistake because I didn't notice that CRC was trying to count goodwill (bullshit) as real money again, which it's been shedding. So the "healthy living" division, in its entirety, made somewhat under $3M in operating income in the last three months (CRC has them $4M in pure EBITDA) and was a little above breaking even counting their asset impairment (and most of those assets are also made-up bullshit). That's before taxes, corporate-headquarters expenses, and everything else.

Also remember that the summer is the busy season for parents trying to get rid of their children for three (or more) months. CRC was expecting a lot more in revenue.

The EBITDA numbers are from this: http://ir.10kwizard.com/filing.php?ipag ... ource=1321 It's damning. During the first nine months of 2010, the "Recovery" division made them $91M in raw EBITDA. "Healthy Living"? Not even $3M. This is right after the busy season, and it's about $4M less than the first nine months of 2009. And this is with the (presumably money-making) fat camps.

Of course they're trying to sell Aspen off, but nobody wants it. CRC bought this turkey at what turned out to be a vastly inflated price, borrowing money they're struggling to pay back, making it more and more attractive to potential buyers by dropping the intangible "assets". Still no deal.
« Last Edit: December 31, 1969, 07:00:00 PM by Guest »
...Sergey Blashchishen, James Shirey, Faith Finley, Katherine Rice, Ashlie Bunch, Brendan Blum, Caleb Jensen, Alex Cullinane, Rocco Magliozzi, Elisa Santry, Dillon Peak, Natalynndria Slim, Lenny Ortega, Angellika Arndt, Joey Aletriz, Martin Anderson, James White, Christening Garcia, Kasey Warner, Shirley Arciszewski, Linda Harris, Travis Parker, Omega Leach, Denis Maltez, Kevin Christie, Karlye Newman, Richard DeMaar, Alexis Richie, Shanice Nibbs, Levi Snyder, Natasha Newman, Gracie James, Michael Owens, Carlton Thomas, Taylor Mangham, Carnez Boone, Benjamin Lolley, Jessica Bradford's unnamed baby, Anthony Parker, Dysheka Streeter, Corey Foster, Joseph Winters, Bruce Staeger, Kenneth Barkley, Khalil Todd, Alec Lansing, Cristian Cuellar-Gonzales, Janaia Barnhart, a DRA victim who never even showed up in the news, and yet another unnamed girl at Summit School...

Offline Whooter

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Re: CRC's 10Q, Sept 2010 (They're about to give up on Aspen)
« Reply #19 on: December 06, 2010, 12:27:13 PM »
Quote from: "Pile of Dead Kids"
Quote from: "Ursus"
Incidentally, I'm not sure where you get the idea that the outdoor programs are any kind of significant money maker from the material you quote above (in green). They're barely exceeding the break even point. It's the fat farms that are pulling this entire train:

    SUMMARY:
      + $1.9 M — weight management
      + $0.6 M — outdoor programs
      - $1.0 M — residential facilities


Residential Facilities
Number of facilities: 17
Net Revenue per patient per day:  $249.55
Patient days:  188,431


The numbers are from this: http://ir.10kwizard.com/filing.php?ipag ... ource=1321


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« Last Edit: December 31, 1969, 07:00:00 PM by Guest »

Offline Dysfunction Junction

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Re: CRC's 10Q, Sept 2010 (They're about to give up on Aspen)
« Reply #20 on: December 06, 2010, 12:41:41 PM »
Quote from: "Pile of Dead Kids"
Quote from: "Ursus"
Incidentally, I'm not sure where you get the idea that the outdoor programs are any kind of significant money maker from the material you quote above (in green). They're barely exceeding the break even point. It's the fat farms that are pulling this entire train:

    SUMMARY:
      + $1.9 M — weight management
      + $0.6 M — outdoor programs
      - $1.0 M — residential facilities

Ursus, bullshit from Whooter is expected, but it's important to remember how deeply it is bullshit. He cited the wrong patient-day revenue (before expenses), and those other numbers are the change in revenue before expenses compared to the same 3 months in 2009. And the expenses of the entire "healthy living" division went up $2.5 million during those three months. But CRC isn't kind enough to break down its expense numbers for us, so we can't reach in and say how much Aspen is making- or, more likely, losing- versus the other parts of that division. CRC's descriptions of Aspen specifically might give us some clues there, though... :D

I also made a mistake because I didn't notice that CRC was trying to count goodwill (bullshit) as real money again, which it's been shedding. So the "healthy living" division, in its entirety, made somewhat under $3M in operating income in the last three months (CRC has them $4M in pure EBITDA) and was a little above breaking even counting their asset impairment (and most of those assets are also made-up bullshit). That's before taxes, corporate-headquarters expenses, and everything else.

Also remember that the summer is the busy season for parents trying to get rid of their children for three (or more) months. CRC was expecting a lot more in revenue.

The EBITDA numbers are from this: http://ir.10kwizard.com/filing.php?ipag ... ource=1321 It's damning. During the first nine months of 2010, the "Recovery" division made them $91M in raw EBITDA. "Healthy Living"? Not even $3M. This is right after the busy season, and it's about $4M less than the first nine months of 2009. And this is with the (presumably money-making) fat camps.

Of course they're trying to sell Aspen off, but nobody wants it. CRC bought this turkey at what turned out to be a vastly inflated price, borrowing money they're struggling to pay back, making it more and more attractive to potential buyers by dropping the intangible "assets". Still no deal.
:tup:
« Last Edit: December 31, 1969, 07:00:00 PM by Guest »
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