Why am I not surprised? FCF in Q4? No freaking way.
Whatever happened to the Stern Effect? Wasn't the $610 Million Man going to save their ass?
=======================================
SIRIUS Provides Year-End 2006 Subscriber Guidance Range
Fourth Quarter 2006 Anticipated To Be the Company's First Ever Positive Free Cash Flow Quarter
NEW YORK, Dec. 4 /PRNewswire-FirstCall/ -- SIRIUS Satellite Radio (Nasdaq: SIRI) today announced that the company has updated its year-end 2006 subscriber guidance.
(Logo: newscom.com )
'Last year with Howard Stern's move to SIRIUS rapidly approaching, we added 500,000 subscribers in the last 10 days of the year, representing nearly 25% of the year's net additions and clearly demonstrating the dramatic pace of holiday sales. While strong, this year's retail sales results since the Thanksgiving weekend have not been at the pace we had anticipated. We are updating our year-end 2006 subscriber guidance to between 5.9 million and 6.1 million. At the lower end of our range we will still add almost 20% more subscribers in 2006 than we did in 2005, a record year for SIRIUS,' said Mel Karmazin, CEO of SIRIUS. 'We have consistently focused on disciplined growth and continue that focus as we look to generate positive free cash flow this quarter.'
The guidance range represents total net subscriber additions of approximately 2.6 million to 2.8 million in 2006, or year-over-year subscriber growth of approximately 80% to 85%.
SIRIUS reiterated that the company's first quarter of positive free cash flow, after capital expenditures, may be reached as early as this quarter.
About SIRIUS
SIRIUS, 'The Best Radio on Radio,' delivers more than 130 channels of the best programming in all of radio. SIRIUS is the original and only home of 100% commercial free music channels in satellite radio, offering 69 music channels. SIRIUS also delivers 65 channels of sports, news, talk, entertainment, traffic, weather and data. SIRIUS is the Official Satellite Radio Partner of the NFL, NBA and NHL and broadcasts live play-by-play games of the NFL, NBA and NHL. All SIRIUS programming is available for a monthly subscription fee of only $12.95.
SIRIUS Internet Radio (SIR) is a CD-quality, Internet-only version of the SIRIUS radio service, without the use of a radio, for the monthly subscription fee of $12.95. SIR delivers more than 75 channels of talk, entertainment, sports, and 100% commercial free music.
SIRIUS products for the car, truck, home, RV and boat are available in more than 25,000 retail locations, including Best Buy, Circuit City, Crutchfield, Costco, Target, Wal-Mart, Sam's Club, RadioShack and at shop.sirius.com.
SIRIUS radios are offered in vehicles from Audi, Bentley, BMW, Chrysler, Dodge, Ford, Infiniti, Jaguar, Jeep(R), Land Rover, Lexus, Lincoln-Mercury, Mazda, Mercedes-Benz, MINI, Nissan, Rolls Royce, Scion, Toyota, Porsche, Volkswagen, and Volvo. Hertz also offers SIRIUS in its rental cars at major locations around the country.
Click on www.sirius.com to listen to SIRIUS live, or to purchase a SIRIUS radio and subscription.
Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions, future events or performance with respect to SIRIUS Satellite Radio Inc. are not historical facts and may be forward-looking and, accordingly, such statements involve estimates, assumptions and uncertainties which could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, any such statements are qualified in their entirety by reference to the factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2005 and Quarterly Reports on Form 10-Q for the quarters ended June 30, 2006 and September 30, 2006 filed with the Securities and Exchange Commission. Among the key factors that have a direct bearing on our operational results are: our dependence upon third parties, including manufacturers of SIRIUS radios, retailers, automakers and programming partners, our competitive position and any events which affect the useful life of our satellites.
G-SIRI
Media Contact:
Patrick Reilly
SIRIUS
212.901.6646
preilly@siriusradio.com
Analyst Contact:
Paul Blalock
SIRIUS
212.584.5174
pblalock@siriusradio.com
Michelle McKinnon
SIRIUS
212.584.5285
mmckinnon@siriusradio.com
SOURCE SIRIUS Satellite Radio
Source: PR Newswire (December 4, 2006 - 5:22 PM EST) |
