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Ascent Capital Q2 loss widens 48.3% YOY

Ascent Capital Group said its normalized net income for the second quarter was a loss of 52 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 66 cents per share.

The per-share loss widened 54.2% year over year from 34 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $6.8 million, compared with a loss of $4.6 million in the prior-year period.

The normalized profit margin dropped to negative 5.3% from negative 3.4% in the year-earlier period.

Total revenue grew 5.1% on an annual basis to $141.5 million from $134.7 million, and total operating expenses grew 7.1% from the prior-year period to $122.6 million from $114.4 million.

Reported net income totaled a loss of $18.5 million, or a loss of $1.41 per share, compared to a loss of $10.5 million, or a loss of 77 cents per share, in the year-earlier period.