Ascent Capital Group, Inc. announced unaudited consolidated earnings results for the third quarter and first nine months ended September 30, 2016. For the quarter, the company announced net revenue of $142,765,000 compared to $141,846,000 for the same period a year ago. Operating income was $15,248,000 compared to $8,907,000 for the same period a year ago. Loss from continuing operations before income taxes was $25,106,000 compared to $25,335,000 for the same period a year ago. Net loss from continuing operations was $27,033,000 compared to $27,324,000 for the same period a year ago. Net loss was $27,033,000 compared to $24,330,000 for the same period a year ago. Basic and diluted net loss per share was $2.23 compared to $1.87 for the same period a year ago. Adjusted EBITDA was $84,943,000 compared to $86,316,000 for the same period a year ago. The increases in net revenue are attributable to increases in average RMR to $42.84 as of September 30 from $41.63 for the prior year period.

For the first nine months, the company announced net revenue of $429,689,000 compared to $421,805,000 for the same period a year ago. Operating income was $36,698,000 compared to $47,346,000 for the same period a year ago. Loss from continuing operations before income taxes was $66,941,000 compared to $49,499,000 for the same period a year ago. Net loss from continuing operations was $72,455,000 compared to $55,495,000 for the same period a year ago. Net loss was $72,455,000 compared to $52,574,000 for the same period a year ago. Basic and diluted net loss per share was $5.89 compared to $4.01 for the same period a year ago. Net cash provided by operating activities was $158,200,000 compared to $173,950,000 for the same period a year ago. Capital expenditures were $5,071,000 compared to $10,042,000 for the same period a year ago. Adjusted EBITDA was $257,008,000 compared to $264,578,000 for the same period a year ago.


For the remainder of 2016, the company expects to spend up to $1 million on the 2G conversion project.