Adt Corp 10-Q Quarterly Report June 2016

“Our quality growth plan is improving our financial performance and will position us for lower attrition and higher levels of free cash flow" said Naren Gursahaney, ADT's CEO. "We're also investing in our traditional business and expanding into adjacencies, creating more growth opportunities in the future."

FIRST QUARTER 2016 FINANCIAL HIGHLIGHTS⁽²⁾


•	GAAP: revenue of $900 million, net income of $64 million, diluted EPS of $0.39, and operating cash flow of $375 million


•	Revenue of $900 million, up 1.5% or 2.7% in constant currency⁽¹⁾


•	Pre-SAC EBITDA before special items of $566 million⁽¹⁾, up $8 million


•	EBITDA before special items of $457 million⁽¹⁾, up $4 million


•	Diluted EPS before special items of $0.49⁽¹⁾vs. $0.51⁽¹⁾


•	Free cash flow before special items of $45 million⁽¹⁾vs. $46 million⁽¹⁾

FIRST QUARTER 2016 BUSINESS HIGHLIGHTS


•	Generated 259 thousand gross additions, flat year-over-year


•	Improved unit attrition year-over-year to 12.2%, an improvement of 70 basis points


•	Increased new and resale revenue per user to $48.52, an increase of 2.6% or 3.5% in constant currency


•	Reduced direct channel net SAC creation multiple to 30.5x, a 1.4x improvement over prior year


•	ADT Pulse take rates of 59%; Total interactive customers comprise more than 25% of the total customer base


•	Drove a 11% increase in gross additions in ADT's U.S. Business channel


•	Completed 124 thousand 2G conversions


•	Declared a 5% increase to the quarterly dividend subsequent to the quarter

BOCA RATON, Fla. - February 2, 2016

- The ADT Corporation (NYSE: ADT) today reported its financial results for the first quarter of fiscal 2016. The Company reported total revenue of $900 million, an increase of 1.5%, or 2.7% in constant currency⁽¹⁾, compared to the first quarter of fiscal 2015. Recurring revenue, which made up approximately 93% of total revenue in the quarter, was $833 million, up 1.0% compared to the same period last year and up 2.2% in constant currency⁽¹⁾. Recurring revenue growth in the quarter was driven by a 2.6% increase in new and resale revenue per user, as a result of strong Pulse take rates and upgrades, growth in ADT Business, and price escalations. Unit attrition for residential and business for the quarter was 12.2%, a year-over-year improvement of 70 basis points. ADT closed the quarter with 6.6 million customer accounts. Pre-SAC EBITDA before special items increased by $8 million to $566 million⁽¹⁾⁽²⁾, and pre-SAC EBITDA margin before special items was 66.7%⁽¹⁾. EBITDA before special items increased by $4 million to $457 million⁽¹⁾⁽²⁾, which includes the negative impact of approximately $7 million pre-tax related to the previously disclosed change in the way the Company accounts for dealer payments for leads generated through its marketing efficiency program, the negative impact of approximately $5 million due to the weaker Canadian dollar, as well as the net $10 million

The following information was filed by Adt Corp on Tuesday, February 2, 2016 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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Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Adt Corp provided additional information to their SEC Filing as exhibits

Exhibit 12.1: Statement Regarding Calculation Of Ratios

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32: Section 1350 Certification

CIK: 1546640
Form Type: 10-Q Quarterly Report
Accession Number: 0001546640-16-000044
Submitted to the SEC: Wed Jun 15 2016 9:41:54 AM EST
Accepted by the SEC: Tue Jun 14 2016
Period: Thursday, March 31, 2016
Industry: Detective Guard And Armored Car Services