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Affinion Group Holdings, Inc. (AFGR) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 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 THIRD QUARTER ENDED SEPTEMBER 30, 2018

GLOBAL LOYALTY REVENUE INCREASES 15% YEAR-OVER-YEAR

STAMFORD, Conn., November 14, 2018 – Affinion Group Holdings, Inc. (“Affinion”, “Affinion Holdings” or the “Company”), a global leader in loyalty and customer engagement, announced today the financial results for the three month period ended September 30, 2018 (the “third quarter” or “quarter”).

Key Highlights

Notes: During the third quarter, we completed the sale of our Insurance Solutions business and present its results as discontinued operations. Results below are from continuing operations, which does not include the Insurance Solutions business.

 

   

Net revenues were $177.1 million in the third quarter of 2018.

 

   

Income from operations was $18.1 million in the third quarter.

 

   

Adjusted EBITDA (as defined in Note (h) of Table 6) was $41.1 million in the third quarter.

“Our core loyalty and customer engagement businesses had another strong quarter, led by 15% revenue growth and 32% Adjusted EBITDA growth in our Global Loyalty segment. The full suite of loyalty solutions we provide to our clients and their customers, with our leading end to end loyalty solutions utilizing Affinion’s world class technology, content catalog, data analytics and customer service, continue to strengthen our position as a leader in the loyalty marketplace,” said Todd Siegel, the Company’s Chief Executive Officer. “Additionally, during the third quarter, we completed the sale of our Insurance business and paid down a significant portion of our outstanding debt, completing another important step in our transition to becoming a pure-play loyalty solutions business.”

“Although we are pleased with our third quarter results, the recent loss of a top 5 loyalty client will put pressure on our performance for the near term. While this previously announced client loss is disappointing, we remain excited about the future as we believe the launch of several new relationships in the fourth quarter, together with the expected expansion of an existing strategic partnership in the early part of the first quarter of 2019, will support the continued growth in our loyalty businesses.”

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.

Third 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 September 30, 2018.

 

   

Net revenues for the third quarter of 2018 decreased 3.4%, from $183.3 million in the third quarter of 2017 to $177.1 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 revenues due to increased growth with existing clients and launches with new clients.


The following information was filed by Affinion Group Holdings, Inc. (AFGR) on Wednesday, November 14, 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, Business Description And Liquidity
Basis Of Presentation, Business Description And Liquidity (Policies)
Basis Of Presentation, Business Description And Liquidity - 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, Net Of Tax (Details)
Discontinued Operations - Composition Of Income From Discontinued Operations, Net Of Tax (Parenthetical) (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)
Discontinued Operations - Summary Of Consideration Paid By Purchaser And Net Gain Recognized In Connection With 2018 Divestiture (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Additional Information (Detail)
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 - Commitment Letter (Details)
Long-Term Debt - Additional Information - Credit Agreement Refinancing And International Notes Redemption (Details)
Long-Term Debt - Additional Information - Fourth Amendment To Credit Facility (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 Unaudited 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: 0001564590-18-029601
Submitted to the SEC: Wed Nov 14 2018 5:03:07 PM EST
Accepted by the SEC: Wed Nov 14 2018
Period: Sunday, September 30, 2018
Industry: Business Services

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