ENGLEWOOD, Colo., May 9, 2017 -- Ascent Capital Group, Inc. ("Ascent" or the "Company") (Nasdaq:ASCMA) has reported results for the three months ended March 31, 2017. 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 March 31, 2017. 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 months ended March 31, 2017 totaled $141.2 million and net loss for the three months ended March 31, 2017 totaled $18.9 million
- Ascent's Pre-SAC Adjusted EBITDA, which adjusts for the expensed portion of subscriber acquisition costs, for the three months ended March 31, 2017 totaled $87.6 million
- MONI's Pre-SAC Adjusted EBITDA for the three months ended March 31, 2017 totaled $89.9 million
- Launched MONI's direct sales and installation sales channel in the first quarter
Ascent Chairman and Chief Executive Officer, Bill Fitzgerald stated, "Jeff and his team continue to make good progress in advancing the business and driving operational efficiences across the MONI platform. I remain encouraged by the work he and his team are doing and believe the steps he is taking will serve to strengthen the business for the long term."
Jeffery Gardner, President and Chief Executive Officer of MONI said, "We are off to a solid start in 2017, executing against out key operational initiatives and laying the groundwork for profitable growth. During the quarter, we successfully launched our direct sales channel, an important first step as we continue to diversify our distribution. Our commitment to enabling the success of our dealers is also bearing fruit with marketing generated leads increasing a solid 23% year-over-year. Through the use of our predictive churn analytics we have also doubled the number of touch points we have with at-risk customers, helping us extend contracts for over 10,000 customers in the first quarter. Finally, our Livewatch business continues to scale nicely with strong revenue and RMR growth. While there is still more ahead of us, I am pleased with our efforts and results to date and believe we are well positioned for the future."
1 Comparisons are year-over-year unless otherwise specified
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