Alliance HealthCare Services, Inc. (NYSE:AIQ) (the "Company" or "Alliance"), a leading national provider of outpatient diagnostic imaging and radiation therapy services, reaffirmed full year 2010 guidance and announced financial guidance for full year 2011.
Full Year 2010 Guidance
The Company reaffirms its full year 2010 revenue and Adjusted EBITDA guidance. Adjusted EBITDA is defined below. Full year 2010 revenue is expected to range from $470 million to $500 million and Adjusted EBITDA is expected to range from $155 million to $180 million.
Full Year 2011 Guidance
For full year 2011, the Company expects revenue to range from $475 million to $505 million and Adjusted EBITDA is expected to range from $140 million to $165 million.
Paul S. Viviano, Chairman of the Board and Chief Executive Officer, stated, "Alliance HealthCare Services continues to be a strong and outstanding provider of outpatient diagnostic imaging and radiation therapy services. 2011 will see the integration of the four acquisitions completed in 2010 and continued growth in radiation therapy services, professional services, and women's breast healthcare services. We will also continue to operate our core business with efficiency and look forward to another year of industry leading operating and free cash flow."
Alliance expects 2011 cash capital expenditures to total approximately $65 million to $75 million. The Company expects to open 20 to 25 fixed-site imaging centers and expects to open three to five radiation therapy centers in 2011.
In 2011, the Company expects a decrease in long-term debt, net of the change in cash and cash equivalents, of $20 million to $40 million.
Alliance's weighted average shares of common stock and common stock equivalents outstanding for 2011 is expected to total approximately 54 million shares.
Acquisition
In December 2010, Alliance acquired a radiation therapy center in eastern Pennsylvania. This is Alliance Oncology's first Pennsylvania-based radiation therapy facility. The purchase price totaled approximately $2 million in cash and assumed liabilities.