ENGLEWOOD, Colo., Feb. 28, 2017 -- Ascent Capital Group, Inc. ("Ascent" or the "Company") (Nasdaq:ASCMA) has reported results for the three and twelve months ended December 31, 2016. Ascent is a holding company that owns MONI, one of the nation's largest home security alarm monitoring companies.
Headquartered in the Dallas Fort-Worth area, MONI provides security alarm monitoring services to more than one million residential and commercial customers as of December 31, 2016. MONI's long-term monitoring contracts provide high margin recurring revenue that results in predictable and stable cash flow.
- Ascent's net revenue for the three and twelve months ended December 31, 2016 totaled $140.7 million and $570.4 million, respectively, and net loss for the three and twelve months ended December 31, 2016 totaled $18.8 million and $91.2 million, respectively
- Ascent's Pre-SAC Adjusted EBITDA, which adjusts for the expensed portion of LiveWatch subscriber acquisition costs, for the three and twelve months ended December 31, 2016 totaled $88.7 million and $360.9 million, respectively
- MONI's Pre-SAC Adjusted EBITDA for the three and twelve months ended December 31, 2016 totaled $88.9 million and $366.5 million, respectively
- RMR attrition declined in the twelve months ended December 31, 2016 to 12.2%, versus 13.4% in the twelve months ended December 31, 2015
- MONI launched its new interactive messaging hub, ASAPer, designed to alert both customers and emergency contacts "as soon as possible" when an alarm is triggered, in the fourth quarter
Ascent Chairman and Chief Executive Officer, Bill Fitzgerald stated, "2016 capped off a very productive year for the business and I am pleased with the hard work Jeff and his team have done executing on our operational objectives. I remain confident that the strong underlying fundamentals of the business are sound and that Jeff and his team are taking the right steps to drive the performance of MONI and improve long term shareholder value. The business is well positioned for a solid 2017."
Jeffery Gardner, President and Chief Executive Officer of MONI said, "I am pleased with our efforts in the fourth quarter and full year. We made significant progress delivering against our key operational initiatives, including reductions in creation costs, improved customer retention metrics and strengthened account growth. Our success is the result of continued improvements in dealer economics; a razor sharp focus on customer service and branding; and ongoing sales, marketing and lead generation support across our entire dealer network. Our pricing strategies are also continuing to bear fruit with RMR attrition declining 120 basis points year over year. Further, our LiveWatch business remains on a solid trajectory with strong revenue growth and average monthly RMR per new customer increasing to $40.
"Finally, in our ongoing effort to identify new ways to keep our customers safe and offer peace of mind, we recently launched our new interactive messaging hub, ASAPer, that allows alarm users and their emergency contacts to quickly communicate and determine the validity of an alarm. Launched to our entire customer base in the fourth quarter, we expect this service to serve as a real differentiator, helping to reduce false alarms, mitigate the risk of unnecessary emergency dispatches and ultimately keep our customers safer."
1 Comparisons are year-over-year unless otherwise specified
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