Ascent Capital reaps rewards of acquisition
DALLAS—Boosted by the 2013 Security Networks acquisition, Ascent Capital, the holding company for Monitronics, a provider of home security alarm monitoring services based here, posted net revenue increases of 31.7 percent and 32.2 percent for the three and six months, respectively, ending June 30, according to a press release.
“The growth in subscriber accounts reflects the effects of the acquisition of Security Networks, as well as strong performance in the core account generation engine,” according to the release.
As of June 30, the company’s average RMR per subscriber was $41.26, an increase of 3.2 percent.
“Monitronics posted solid second quarter results and delivered strong operational execution across all areas of the business,” Mike Haislip, president and CEO of Monitronics, said in a prepared statement.
“Revenue and adjusted EBITDA increased a solid 31 percent and 28 percent, respectively, and total subscriber accounts were up over 25 percent on strong growth attributable to the acquisition of Security Networks and account purchases through our dealer program.”
The company’s attrition level remained unchanged from the first quarter at 12.3 percent.