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Ascent Capital Q1 loss widens 24.1% YOY

Ascent Capital Group said its first-quarter normalized net income was a loss of 36 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 61 cents per share.

The per-share loss grew 29.2% year over year from 28 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $4.8 million, compared with a loss of $3.8 million in the year-earlier period.

The normalized profit margin declined to negative 3.7% from negative 2.9% in the year-earlier period.

Total revenue grew year over year to $138.4 million from $132.9 million, and total operating expenses rose year over year to $117.4 million from $112.1 million.

Reported net income came to a loss of $9.7 million, or a loss of 73 cents per share, compared to a loss of $9.4 million, or a loss of 68 cents per share, in the year-earlier period.