Ascent Capital Group, Inc. announced consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported net revenues were $135.013 million against $140.498 million a year ago, a decrease of 3.9%. Operating loss was $203.583 million against $1.485 million a year ago. Loss from continuing operations before income taxes was $243.020 million against $38.865 million a year ago. Net loss from continuing operations was $244.367 million against $43.526 million a year ago. Diluted loss per share from continuing operations were $19.82 against $3.58 a year ago. Net loss was $244.367 million against $43.526 million a year ago. Diluted loss per share was $19.82 against $3.58 a year ago. Adjusted EBITDA was $69.400 million against $77.736 million a year ago. The decline in revenue is due to a lower average number of subscribers in both respective periods as compared to the prior year. This was partially offset by an increase in average recurring monthly revenue per subscriber due to certain price increases enacted during the past 12 months. The decrease in adjusted EBITDA was due to lower subscriber revenue and increased creation costs net of associated revenue, in their Direct-to-Consumer channel as well as the previous discussed, change in accounting for Moves Costs. The increase in net loss from continuing operations at Ascent and Brinks Home Security is primarily attributable to goodwill impairment recognized in the second quarter of 2018.

For the six months, the company reported net revenues were $268.766 million against $281.698 million a year ago. The reduction in revenue for the three and six months ended June 30, 2018 is due to the lower average number of subscribers in 2018. Operating loss was $196.969 million against income of $18.233 million a year ago. Loss from continuing operations before income taxes was $272.512 million against $55.996 million a year ago. Net loss from continuing operations was $275.205 million against $62.471 million a year ago. Diluted loss per share from continuing operations were $22.35 against $5.14 a year ago. Net loss was $275.205 million against $62.379 million a year ago. Diluted loss per share was $22.35 against $5.13 a year ago. Net cash provided by operating activities was $63.672 million against $69.467 million a year ago. Capital expenditures was $8.928 million against $5.752 million a year ago. Adjusted EBITDA was $138.269 million against $157.736 million a year ago. The decline in revenue is due to a lower average number of subscribers in both respective periods as compared to the prior year. This was partially offset by an increase in average recurring monthly revenue per subscriber due to certain price increases enacted during the past 12 months. The decrease in adjusted EBITDA was due to lower subscriber revenue and increased creation costs net of associated revenue, in their Direct-to-Consumer channel as well as the previous discussed, change in accounting for Moves Costs. The increase in net loss from continuing operations at Ascent and Brinks Home Security is primarily attributable to goodwill impairment recognized in the second quarter of 2018.

For the second quarter of 2018, the company reported loss on goodwill impairment was $214.400 million.