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

Affinion Group Holdings, Inc.

CIK: 1404624 Ticker: AFGR

Exhibit 99.1

 

   More information:
   Torrey Martin
   SVP, Communications and Corporate Development
   203.956.8746
   tmartin@affiniongroup.com

AFFINION GROUP HOLDINGS, INC. ANNOUNCES RESULTS FOR THE SECOND QUARTER ENDED

JUNE 30, 2018

GLOBAL LOYALTY REVENUE INCREASES 15% YEAR-OVER-YEAR

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.

 

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

 

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

 

    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.

 

    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

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Changes In Deficit
Condensed Consolidated Statements Of Comprehensive Income (Loss)
Acquisition
Acquisition (Tables)
Acquisition - Additional Information (Details)
Acquisition - Summary Of Fair Values Of Assets Acquired And Liabilities Assumed (Details)
Basis Of Presentation And Business Description
Basis Of Presentation And Business Description (Policies)
Basis Of Presentation And Business Description - Additional Information (Details)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Details)
Deficit
Deficit - Additional Information (Detail)
Discontinued Operations
Discontinued Operations (Tables)
Discontinued Operations - Additional Information (Details)
Discontinued Operations - Composition Of Income From Discontinued Operations (Details)
Discontinued Operations - Composition Of Operating And Investing Activities Of Discontinued Operations (Details)
Discontinued Operations - Summary Of Carrying Amounts Of Assets And Liabilities Reclassified To Current And Non-Current Assets And Liabilities Held For Sale (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Basic And Diluted Earnings (Loss) Per Share (Details)
Financial Instruments, Derivatives And Fair Value Measures
Financial Instruments, Derivatives And Fair Value Measures (Tables)
Financial Instruments, Derivatives And Fair Value Measures - Additional Information (Details)
Financial Instruments, Derivatives And Fair Value Measures - Principal Cash Flows And Related Weighted-Average Interest Rates By Expected Maturity (Details)
Financial Instruments, Derivatives And Fair Value Measures - Schedule Of Fair Value Measured On Recurring Basis (Details)
Guarantor/Non-Guarantor Supplemental Financial Information
Guarantor/Non-Guarantor Supplemental Financial Information (Tables)
Guarantor/Non-Guarantor Supplemental Financial Information - Additional Information (Details)
Guarantor/Non-Guarantor Supplemental Financial Information - Schedule Of Condensed Consolidating Balance Sheet (Details)
Guarantor/Non-Guarantor Supplemental Financial Information - Schedule Of Condensed Consolidating Statement Of Cash Flows (Details)
Guarantor/Non-Guarantor Supplemental Financial Information - Schedule Of Condensed Consolidating Statement Of Comprehensive Income (Loss) (Details)
Income Taxes
Income Taxes - Additional Information (Details)
Intangible Assets And Goodwill
Intangible Assets And Goodwill (Tables)
Intangible Assets And Goodwill - Additional Information (Details)
Intangible Assets And Goodwill - Schedule Of Amortizable Intangible Assets (Details)
Intangible Assets And Goodwill - Schedule Of Amortization Expense Relating To Intangible Assets (Details)
Intangible Assets And Goodwill - Schedule Of Changes In Carrying Amount Of Goodwill (Details)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Additional Information - 2017 Exchange Offers, Issuance Of New Notes And New Warrants And Redemptions Of Other Existing Notes (Details)
Long-Term Debt - Additional Information - Credit Agreement Refinancing And International Notes Redemption (Details)
Long-Term Debt - Components Of Long-Term Debt (Details)
Long-Term Debt - Components Of Long-Term Debt (Parenthetical) (Details)
Related Party Transactions
Related Party Transactions - Additional Information (Details)
Revenues
Revenues (Tables)
Revenues - Additional Information (Details 1)
Revenues - Additional Information (Details 2)
Revenues - Additional Information (Details)
Revenues - Schedule Of Balance Of Contract Liabilities Classified As Deferred Revenue (Details)
Revenues - Schedule Of Disaggregation Of Revenues From Contracts With Customers Along With Reportable Segment For Each Category (Details)
Revenues - Schedule Of Impact Of Adoption On Company's Consolidated Statement Of Comprehensive Income And Consolidated Balance Sheet (Details)
Revenues - Summary Of Cumulative Effect Of Changes Made To Company's Condensed Consolidated Balance Sheet To Reflect Adoption Of Asc 606 (Details)
Segment Information
Segment Information (Tables)
Segment Information - Additional Information (Details)
Segment Information - Reconciliation Of Segment Ebitda To Income From Operations (Details)
Segment Information - Schedule Of Segment Information (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Details)
Stock-Based Compensation - Summary Of Option Activity (Details)
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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