ADT Reports Fourth Quarter and Full Year Fiscal 2015 Results

Published November 11th, 2015 | By

 
“We met or exceeded our major financial and operational goals for the year, and delivered another year of improved performance,” said Naren Gursahaney, ADT’s CEO. “We also strengthened our competitive position through investing in our business and establishing new strategic partnerships, positioning us well for the future as we execute upon our strategy to further improve customer retention, drive quality growth, and improve cash generation.”
 
 
FOURTH QUARTER 2015 FINANCIAL HIGHLIGHTS
• GAAP: revenue of $899 million, net income of $81 million, diluted EPS of $0.48
• Recurring revenue of $835 million, up 2.0% or 3.4% in constant currency(1)(2)
• Pre-SAC EBITDA before special items of $567 million(1), up $1 million(2)
• EBITDA before special items of $460 million(1), up $2 million(2)            
• Diluted EPS before special items of $0.51(1) vs. $0.55(2)
• Free cash flow before special items of $77 million(1), up $23 million(2), or 43%
• Steady-state free cash flow before special items of $996 million(1), up $30 million(2)

FOURTH QUARTER 2015 BUSINESS HIGHLIGHTS
• Generated 278 thousand gross additions, flat with prior year excluding bulks
• Improved revenue attrition to 12.2%, a year-over-year improvement of 130 basis points
• Improved unit attrition to 12.2%, a year-over-year improvement of 100 basis points
• Increased new and resale revenue per user to $48.40, an increase of $1.61 or 3.4% over prior year
• Reduced direct channel net SAC creation multiple to 29.1x, a 1x improvement over prior year
• Drove ADT Pulse take rates to 59%; Total interactive customers comprise 23% of the total customer base
• Drove a 17% increase in gross additions in ADT’s U.S. Business channel

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* $100 Visa Gift Card fulfilled by Protect Your Home through third-party provider, Mpell, upon installation of a security system. Shipping and Handling Fee applies. ADT Pulse Interactive Solutions Services, which help you manage your home environment and family lifestyle, requires the purchase and/or activation of an ADT alarm system with monitored burglary service and a compatible computer, cell phone or PDA with Internet and email access. These ADT Pulse Interactive Solutions Services do not cover the operation or maintenance of any household equipment/systems that are connected to the ADT Pulse Interactive Solutions Services/Equipment. All ADT Pulse Interactive Solutions Services are not available with the various levels of ADT Pulse Interactive Solutions Services. All ADT Pulse Interactive Solutions Services may not be available in all geographic areas. You may be required to pay additional charges to purchase equipment required to utilize the ADT Pulse Interactive Solutions Services features you desire. Installation starts at $199. Burglary, Fire, Carbon Monoxide and Medical Alert monitoring requires purchase and/or activation of an ADT security system with monitored Burglary, Fire, Carbon Monoxide and Medical Alert devices. Fire, Carbon Monoxide and Medical Alert services are an additional charge. Quality Service Plan (QSP) is ADT's Extended Limited Warranty. 36-month monitoring contract required from $51.99 per month, ($1,871.64), including Quality Service Plan (QSP). Additional charges may apply in areas that require guard response service for municipal alarm verification. Prices subject to change. Prices may vary by market. Some insurance companies offer discounts on Homeowner's Insurance. Please consult your insurance company. Local permit fees may be required. Satisfactory credit history required. Additional monitoring fees required for some services. Photos are for illustrative purposes only and may not reflect the exact product/service actually provided. $99 Customer Installation Charge. 36-Month Monitoring Agreement required at $36.99 per month (1,331.64), 24-Month Monitoring Agreement required at $36.99 ($887.76) for California, including Quality Service Plan (QSP). Form of payment must be by credit card of electronic charge to your checking or savings account. Offer applies to homeowners only. Local permit fees may be required. Satisfactory credit history required. Certain restrictions may apply. Offer valid for new ADT Authorized Premier Provider customers only and not on purchases from ADT LLC. Other rate plans available. Cannot be combined with any other offer. Licenses: AL-17-1104, AZ-ROC217517, AR-2008-0014, CA-ACO6320, CT-ELC.0193944-L5, DE-07-212, FL-EC13003427, DC-602513000006, GA-LVA205395, ID-ELE-SC-39312, IL- 127.001042, IN-City of Indianapolis: LAC-000156, IA-AC-0036, KY-City of Louisville: 483, LA-F1082, LA-F1914, LA-F1915, ME-LM50017382, MD-107-1626, MA-1355C, MI- 3601205773, MN-TS01807, MS-15007958, MO-City of St. Louis: CC354, St. Louis County: 84959, MT-247, NE-14451, NV-68518, City of Las Vegas: 3000002944, NJ-34BF00021800, NM- 353366, NY-Licensed by the N.Y.S. Dept. of State UID#12000317691, #12000286451, NC-1622- CSA, OH-53891446, City of Cincinnati: AC86, OK-1048, OR-170997, Pennsylvania Home Improvement Contractor Registration Number: PA022999, RI-3582, SC-BAC5630, SD-1025- 7001-ET, TN-1520, TX-B13734, ACR-3492, UT-6422596-6501, VT-ES-2382, VA-115120, WA- 602588694/PROTEYH934RS, WV-042433, WI-City of Milwaukee: PAS-0002790, WY-LV-G- 21499. 3750 Priority Way South Dr. Suite 200 Indianapolis, IN 46240