Ascent Capital Group, Inc. Announces Earnings Results for the Fourth Quarter and Full Year of 2015; Provides Earnings Guidance for the Year 2016
February 29, 2016 at 09:30 pm
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Ascent Capital Group, Inc. announced earnings results for the fourth quarter and full year of 2015. For the quarter, the company's net revenue increased 4.2% to $141.6 million. Total adjusted EBITDA was $83,173,000 against $88,934,000 a year ago. Net loss from continuing operations was $30,741,000 against $6,567,000 a year ago.
For the year, the company's net revenue was $563,356,000 against $539,449,000 a year ago. Operating income was $49,367,000 against $78,198,000 a year ago. Loss from continuing operations before income taxes was $79,731,000 against $34,028,000 a year ago. Net loss from continuing operations was $86,236,000 or $6.66 per basic and diluted share against $37,448,000 or $2.75 per basic and diluted share a year ago. Net loss was $83,384,000 or $6.44 per basic and diluted share against $37,752,000 or $2.77 per basic and diluted share a year ago. Net cash provided by operating activities was $207,885,000 against $233,870,000 a year ago. Capital expenditures were $12,431,000 against $7,769,000 a year ago. The increase in net revenue is primarily attributable to increases in Monitronics' subscriber accounts and average recurring monthly revenue per subscriber. Adjusted EBITDA was $347,752,000 against $354,805,000 a year ago.
For 2016, the company expects cash flow generation to improve meaningfully as a result of company's focus on creation cost multiples, expense reduction and improving the balance sheet.
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.
ASCENT CAPITAL GROUP, INC. 
