Ascent Capital Group, Inc. (“Ascent” or the “Company”) (Nasdaq: ASCMA) has reported results for the three and twelve months ended December 31, 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 810,000 residential and commercial customers as of December 31, 2012. Monitronics’ 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, 2012 increased 17.5% and 10.6%, respectively, driven by increases in Monitronics’ subscriber accounts and average recurring monthly revenue (“RMR”) per subscriber
- Ascent’s Adjusted EBITDA 2 for the three and twelve months ended December 31, 2012 increased 41.3% and 18.3% driven by strong revenue growth at Monitronics
- Ascent’s balance sheet remains strong with $217.6 million of cash and marketable securities at the holding company level as of December 31, 2012
- Monitronics’ Adjusted EBITDA for the three and twelve months ended December 31, 2012 increased 22.7% and 10.2%, respectively, driven by growth in subscriber accounts and average RMR
- Monitronics subscriber accounts as of December 31, 2012 increased 16.0% to 812,539
- Monitronics average RMR per subscriber increased 5.4% as of December 31, 2012 to $39.50
Ascent Chairman and Chief Executive Officer, Bill Fitzgerald stated, “I am extremely pleased with our performance in the fourth quarter and full year. The business delivered strong growth in net revenue and Adjusted EBITDA and we successfully completed a large bulk purchase of accounts in the fourth quarter that provides us with strong incremental cash flow and positioned the business well as we moved into the new year.”
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts