Ascent Capital Group, Inc. (ASCMA) saw its loss widen to $91.24 million, or $7.44 a share for the year ended Dec. 31, 2016. In the previous year period, the company reported a loss of $83.38 million, or $6.44 a share.
Revenue during the year went up marginally by 1.25 percent to $570.37 million from $563.36 million in the previous year.
Operating income for the year was $55.63 million, compared with $49.37 million in the previous year.
Ascent Chairman and Chief Executive Officer, Bill Fitzgerald stated, “2016 capped off a very productive year for the business and I am pleased with the hard work Jeff and his team have done executing on our operational objectives. I remain confident that the strong underlying fundamentals of the business are sound and that Jeff and his team are taking the right steps to drive the performance of MONI and improve long term shareholder value. The business is well positioned for a solid 2017.”
Operating cash flow declines
Ascent Capital Group, Inc. has generated cash of $188.90 million from operating activities during the year, down 9.48 percent or $19.78 million, when compared with the last year.
The company has spent $200.36 million cash to meet investing activities during the year as against cash outgo of $285.27 million in the last year.
Cash flow from financing activities was $18.20 million for the year, down 73.84 percent or $51.36 million, when compared with the last year.
Cash and cash equivalents stood at $12.32 million as on Dec. 31, 2016, up 120.89 percent or $6.74 million from $5.58 million on Dec. 31, 2015.
Working capital declines
Ascent Capital Group, Inc. has witnessed a decline in the working capital over the last year. It stood at $29.92 million as at Dec. 31, 2016, down 19.28 percent or $7.14 million from $37.06 million on Dec. 31, 2015. Current ratio was at 1.31 as on Dec. 31, 2016, down from 1.43 on Dec. 31, 2015.
Debt moves up marginally
Ascent Capital Group, Inc. has witnessed an increase in total debt over the last one year. It stood at $1,765.23 million as on Dec. 31, 2016, up 2.67 percent or $45.87 million from $1,719.37 million on Dec. 31, 2015. Total debt was 82.78 percent of total assets as on Dec. 31, 2016, compared with 79.11 percent on Dec. 31, 2015. Debt to equity ratio was at 7.40 as on Dec. 31, 2016, up from 5.29 as on Dec. 31, 2015. Interest coverage ratio improved to 0.42 for the year from 0.40 for the same period last year.
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