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Technology Stocks : Sirius Satellite Radio (SIRI) -- Ignore unavailable to you. Want to Upgrade?

To: bryston who wrote (59)	5/11/2000 9:28:00 AM
From: bryston	Respond to of 8420

I assume most everyone has seen the May 3, 2000, PR regarding Panasonic's dedication of factory capacity to SIRI receivers, but here is an excerpt: The new production line will have an initial capacity of 350,000 units annually and is expected to increase to more than one million units per year. The production facility is expected to be completed in the fall and pre-production samples are expected later this year. ``This new production capability is a tangible sign of our belief that Sirius Radio's coast-to-coast commercial-free music will revolutionize the way people are entertained in their cars,'' said Toshiyuki Imazu, president of MCUSA. ``We expect significant demand for these receivers and for Sirius Radio.'' siliconinvestor.com

To: bryston who wrote (59)	5/14/2000 7:08:00 AM
From: Manfred Sondermann	Read Replies (1) \| Respond to of 8420

Hi Bryston, yes you are probably right that DM was speaking of EBITDA, and not EBIT. But according to an analysis of Merrill Lynch (09/99) the difference between EBITDA and EBIT is only about $60 - $70 million in the times between 2001 and 2004, and both have about the same time of break even. (According to the conservative ML report in early 2004). In the long run, ie. till 2008, depreciation and amortization stay at about $70 million per year. After all, this D&A is already included in the break even "costs" of the 2 million subscribers, so it should not affect my estimation of net earnings. Manfred