Ascent Capital Group, Inc. Announces Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018
November 05, 2018 at 01:13 pm
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Ascent Capital Group, Inc. announced consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company announced net revenue of $137,156,000 compared to $138,211,000 for the same period a year ago. Operating income was $8,341,000 compared to $10,571,000 for the same period a year ago. Loss from continuing operations before income taxes was $38,749,000 compared to $27,394,000 for the same period a year ago. Net loss from continuing operations was $40,095,000 compared to $29,160,000 for the same period a year ago. Net loss was $40,095,000 compared to $29,160,000 for the same period a year ago. Basic and diluted net loss per share from continuing operations was $3.24 compared to $2.39 for the same period a year ago. Basic and diluted net loss per share was $3.24 compared to $2.39 for the same period a year ago. Adjusted EBITDA was $66,943,000 compared to $75,671,000 for the same period a year ago.
For the nine months, the company announced net revenue of $405,922,000 compared to $419,909,000 for the same period a year ago. Operating loss was $188,628,000 compared to operating income $28,804,000 for the same period a year ago. Loss from continuing operations before income taxes was $311,261,000 compared to $83,390,000 for the same period a year ago. Net loss from continuing operations was $315,300,000 compared to $91,631,000 for the same period a year ago. Net loss was $315,300,000 compared to $91,539,000 for the same period a year ago. Basic and diluted net loss per share from continuing operations was $25.57 compared to $7.53 for the same period a year ago. Basic and diluted net loss per share was $25.57 compared to $7.52 for the same period a year ago. Net cash provided by operating activities was $69,534,000 compared to $113,914,000 for the same period a year ago. Capital expenditures were $11,513,000 compared to $9,999,000 for the same period a year ago. Adjusted EBITDA was $205,212,000 compared to $233,407,000 for the same period a year ago.
Ascent Capital Group, Inc. is a holding company. The Company's subsidiaries include Monitronics International, Inc. (MONI) and LiveWatch Security, LLC (LiveWatch). The Company's segments include MONI, LiveWatch and Other Activities. The MONI segment is primarily engaged in the business of providing security alarm monitoring services: monitoring signals arising from burglaries, fires, medical alerts and other events through security systems at subscribers' premises, as well as providing customer service and technical support. LiveWatch is a do-it-yourself home security provider offering professionally monitored security services through a direct-to-consumer sales channel. LiveWatch offers a differentiated go-to-market strategy through direct response television, Internet and radio advertising. When a customer initiates the process to obtain monitoring services, LiveWatch pre-configures the alarm monitoring system based on customer specifications.