Affinion Group Holdings, Inc. (AFGR) 10-Q Quarterly Report July 2018

STAMFORD, Conn., July 26, 2018 – 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 June 30, 2018 (the “second quarter” or “quarter”).

Key Highlights

Notes: As of June 30, 2018, we have classified our Insurance Solutions business as discontinued operations and as held for sale. Results below are from continuing operations, which does not include the Insurance Solutions business.

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Net revenues were $179.3 million in the second quarter of 2018.

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Income from operations was $17.6 million in the second quarter.

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Adjusted EBITDA (as defined in Note (h) of Table 6) was $36.8 million in the second quarter.

“Our core businesses continued their solid performance in the second quarter, driven by 15% revenue growth and 14% Adjusted EBITDA growth in our Global Loyalty segment,” said Todd Siegel, the Company’s Chief Executive Officer. “Additionally, as previously announced, we are pleased to have reached an agreement for the sale of our Insurance business, which we anticipate closing in the third quarter of 2018.”

“Based on these developments, recent client wins and other key trends, we believe we have positioned the company for sustainable long-term success,” Siegel continued. “As for the remainder of the year, we will continue to focus on expanding our core Global Loyalty and Global Customer Engagement businesses and on enhancing our leadership position as a pure-play loyalty solutions company through our leading technology, data driven analytics and our loyalty and customer engagement solutions.”

Results Highlights

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 Table 6 for a complete description of Adjusted EBITDA and the related reconciliations to GAAP measures.

Second Quarter Net Revenues

Notes: As of January 1, 2018, the Company has adopted the new Revenue Recognition Standard (“ASC 606”) using the modified retrospective transition method. For more details regarding ASC 606 and its impact on the Company’s financial results, see the Company’s quarterly report on Form 10-Q for the quarter ended June 30, 2018.

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Net revenues for the second quarter of 2018 decreased 1.0%, from $181.2 million in the second quarter of 2017 to $179.3 million. The decrease in overall net revenues was primarily due to the expected revenue declines in our non-core Legacy Membership and Package segment and partially offset by higher Global Loyalty and Global Customer Engagement revenues.

The following information was filed by Affinion Group Holdings, Inc. (AFGR) on Thursday, July 26, 2018 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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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Affinion Group Holdings, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 2.1: Plan Of Acquisition, Reorganization, Arrangement, Liquidation Or Succession

Exhibit 10.1: Material Contract

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

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

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: AFGR
CIK: 1404624
Form Type: 10-Q Quarterly Report
Accession Number: 0001564590-18-017533
Submitted to the SEC: Thu Jul 26 2018 11:01:36 AM EST
Accepted by the SEC: Thu Jul 26 2018
Period: Saturday, June 30, 2018
Industry: Business Services

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Affinion Group Holdings, Inc. (AFGR) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 30, 2018

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