U.S. PHYSICAL THERAPY, INC. (NYSE:USPH) Files An 8-K Results of Operations and Financial Condition

ME Staff 8-k
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U.S. PHYSICAL THERAPY, INC. (NYSE:USPH) Files An 8-K Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition.

The information set forth in Item 7.01 below is incorporated by reference herein.

Item 7.01Regulation FD Disclosure.

On January 9, 2018, U.S. Physical Therapy, Inc. (NYSE: USPH), (the “Company”) issued a press release describing the expected impact of the Tax Cuts and Jobs Act of 2017 on its results.

The Company, a national operator of outpatient physical therapy clinics, issued a press release that with the new tax law the Company currently estimates that its effective tax rate, including combined Federal and state taxes, for the year 2018 will be in the range of 26% to 29%. The Company's comparable equivalent tax rate for 2017 was estimated to be 37% (excluding revaluation of deferred tax items which will result in a one-time credit in the fourth quarter of 2017) and for the year 2016 the rate was 36.6%. Subject to further analysis, management expects to be able to be more specific about the 2018 tax rate when it announces 2017 results and provides earnings guidance for 2018.

A copy of the press release is furnished to item 8.01 of this Current Report on Form 8-K as Exhibit 99.1

The information in this report, including Exhibit 99.1 attached hereto, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01

FINANCIAL STATEMENTS AND EXHIBITS

** Furnished herewith.


U S PHYSICAL THERAPY INC /NV Exhibit
EX-99.1 2 exhibit99-1.htm EXHIBIT 99.1               CONTACT: U.S. Physical Therapy,…
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About U.S. PHYSICAL THERAPY, INC. (NYSE:USPH)

U.S. Physical Therapy, Inc., through its subsidiaries, operates outpatient physical therapy clinics that provide pre-and post-operative care, and treatment for orthopedic-related disorders, sports-related injuries, preventative care, rehabilitation of injured workers and neurological-related injuries. The Company’s segment is made up of various clinics within partnerships. The Company primarily operates through subsidiary clinic partnerships, in which it owns a general partnership interest and a limited partnership interest, and the managing therapists of the clinics owns the remaining limited partnership interest in the clinics. The Company operates approximately 510 clinics in over 40 states. There are approximately 380 clinics operated under Clinic Partnerships and over 100 operated as Company-owned Facilities. In addition to its owned clinics, it also manages physical therapy facilities for third parties, primarily physicians, with over 20 third-party facilities under management.