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Ascent Capital Q4 loss widens YOY

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Ascent Capital Q4 loss widens YOY

Ascent Capital Group said its normalized net income for the fourth quarter came to a loss of $1.70 per share, compared with the S&P Capital IQ consensus estimate of a loss of $1.52 per share.

The per-share loss increased year over year from 37 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $21.2 million, compared with a loss of $5.0 million in the prior-year period.

The normalized profit margin fell to negative 8.5% from negative 3.7% in the year-earlier period.

Total revenue grew on an annual basis to $141.6 million from $135.9 million, and total operating expenses rose 19.9% from the prior-year period to $138.7 million from $115.6 million.

Reported net income came to a loss of $30.7 million, or a loss of $2.47 per share, compared to a loss of $6.6 million, or a loss of 49 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of $3.47 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of a loss of $5.77.

EPS was a loss of $1.40 in the prior year.

Normalized net income was a loss of $44.9 million, compared with a loss of $19.1 million in the prior year.

Full-year total revenue grew on an annual basis to $563.4 million from $539.4 million, and total operating expenses rose 11.2% year over year to $509.5 million from $458.2 million.

The company said reported net income totaled a loss of $86.2 million, or a loss of $6.66 per share, in the full year, compared with a loss of $37.4 million, or a loss of $2.75 per share, the prior year.