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|SVP, Communications and Corporate Development|
AFFINION GROUP HOLDINGS, INC. ANNOUNCES RESULTS FOR THE FIRST QUARTER
ENDED MARCH 31, 2017
REAFFIRMS FULL YEAR GUIDANCE FOR 2017
STAMFORD, Conn., May 12, 2017 Affinion Group Holdings, Inc. (Affinion Holdings or the Company), a global leader in loyalty and customer engagement, announced today the financial results for the three month period ended March 31, 2017 (the first quarter or quarter) for itself and selected financial information for its wholly-owned subsidiary, Affinion Group, Inc. (Affinion).
|☐||Net revenues were $241.1 million in the first quarter of 2017.|
|☐||Income from operations was $38.1 million in the first quarter of 2017.|
|☐||Adjusted EBITDA (as defined in Note (e) of Table 6) was $59.9 million in the first quarter of 2017.|
Affinion is off to a strong start in 2017, said Todd Siegel, the Companys Chief Executive Officer. Our core businesses continue to perform well, building on the positive momentum from last year. In particular, we are pleased with the results in our Global Loyalty segment with over 40% revenue growth, driven by our industry leading solutions with existing clients as well as our new client launches during the first quarter.
In addition, we recently closed on a transaction that extends our debt maturities to 2022, continued Siegel. The transaction provides the Company with sufficient runway to continue to invest in and capitalize on growth opportunities across our core businesses. For the remainder of 2017, we will continue to focus on maintaining and enhancing our broad range of content offerings, service capabilities and technology platforms. Our view remains that the overall business will return to growth in 2017 on a currency consistent basis.
Notes: The Company does not provide reconciliations of guidance for Adjusted EBITDA to Income from operations, in reliance on the unreasonable efforts exception provided under Item 10(e)(1)(i)(B) of Regulation S-K. The Company is unable, without unreasonable efforts, to forecast certain items required to develop meaningful comparable GAAP financial measures. These items include business optimization, restructuring and stock compensation costs, foreign exchange rate changes, as well as other non-cash and unusual items and other adjustments as defined under the Companys debt agreements, that are difficult to predict in advance in order to include in a GAAP estimate.
Notes: Adjusted EBITDA as referred to above excludes any pro forma impact of acquisitions and other actions. See Table 5 for a complete description of Adjusted EBITDA by segment and the related reconciliations to GAAP measures. See Tables 6 and 7 for a complete description of Adjusted EBITDA and the related reconciliations to GAAP measures.
The following information was filed by Affinion Group, Inc. on Friday, May 12, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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