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Ascent Capital Group Announces Financial Results For The Three And Six Months Ended June 30, 2012

Stocks in this article: ASCMA

Ascent Capital Group, Inc. (“Ascent” or the “Company”) (Nasdaq: ASCMA) has reported results for the three and six months ended June 30, 2012. Ascent is a holding company that owns Monitronics International, Inc. (“Monitronics”), one of the nation’s largest and fastest-growing home security alarm monitoring companies.

Headquartered in Dallas, Texas, Monitronics provides security alarm monitoring services to more than 700,000 residential and commercial customers. Monitronics’ long-term monitoring contracts provide high margin recurring revenue that results in predictable and stable cash flow.

Highlights 1:

  • Ascent’s net revenue for the three and six months ended June 30, 2012 increased 7.4% and 9.1%, respectively, driven by increases in Monitronics’ subscriber accounts and average RMR 2 per subscriber
  • Ascent’s balance sheet remains strong with $232.8 million of cash and marketable securities as of June 30, 2012
  • Monitronics’ Adjusted EBITDA 3 for the three and six months ended June 30, 2012 increased 6.1% and 7.7%, respectively
    • Monitronics subscriber accounts as of June 30, 2012 increased 3.4% to 711,832
    • Monitronics Average RMR per subscriber increased 3.2% to $37.97 as of June 30, 2012

Ascent Chairman and Chief Executive Officer, Bill Fitzgerald stated, “Monitronics delivered another strong quarter with solid growth in revenue, Adjusted EBITDA, subscriber accounts and average RMR per subscriber. At the holding company level, our balance sheet remains strong with over $230 million in cash and marketable securities as we remain primarily focused on identifying strategic acquisition opportunities within the alarm monitoring and related security industry. While the attractive and recession resistant characteristics of the industry have prompted a more competitive transaction environment, we remain confident in our ability to identify and bring to bear new opportunities that we believe will drive attractive returns on capital for our shareholders.”

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