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Technology Stocks : Sirius Satellite Radio (SIRI)
SIRI 20.77-2.2%Dec 19 9:30 AM EST
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To: i-node who wrote (6299)2/13/2007 4:50:07 PM
From: pcstel  Read Replies (1) of 8420
 
Given this 2B in losses, I want someone to explain how it is that Stern "helped" Sirius financially (ideally, by referring to REAL DATA from the financial statements, rather than the usual bluster you get from some of the regulars around here).

LOL! The only "bluster" I read around here usually comes from Mr. Ray who doesn't have time to look up data, and instead posts his OPINIONS (or Bluster) as FACTS.

OK!! Sirius has reported net losses of approx. 1.98 Billion dollars in the time period that the Stern announcement was made Q3 '04.

At that time.. Sirius announced 662,289 subscribers. At the end of Q3' 06 Sirius announced 5,119,308 subscribers. During this period of growth. Sirius announced a total net loss of 1.98 Billion dollars to add 4.46 million net adds. Or $443 per net add.

Where XM reported a total net loss of 1.49 BIllion dollars to add 4.414 million net adds to grow from 620,000 subs to 5.034 million subs. Or $337 per net add.

Now I am not weighing in on one side or this debate or the other. But, the numbers are much smaller than Mr. Ray attempts to sway the reader into believing.

SIRI would have only 4M subscribers probably -- but the stockholders would have been better off

Well see, now your talking.. So you think Sirius would have ~2.1 million less subscribers without Stern. So if we take 2.1 million subscribers and multiply that by that annual subscription price. That works out to about 327 million dollars in revenue per year.. Over 5 years.. That works out to 1.63 Billion dollars.

Hard to deny that number is less than what they are paying him.

Look like a winner to me.

PCSTEL
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