Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : XM Satellite Radio Holdings Inc. (XMSR) -- Ignore unavailable to you. Want to Upgrade?

To: HEXonX who wrote (3292)	2/28/2007 9:10:57 AM
From: HEXonX	Read Replies (1) \| Respond to of 3386

News for 'SIRI' - (Sirius Satellite Radio posts narrower loss in 4th-quarter as revenue doubles) NEW YORK, Feb 28, 2007 (AP Worldstream via COMTEX) -- Sirius Satellite RadioInc.,which has agreed to acquire its rival XM Satellite Radio Holdings Inc., reported a narrower loss for the fourth quarter Tuesday as revenues more thandoubled.Sirius had a net loss of $245.6 million (EUR 185.64 million), or 17 cents a share, in the last three months of 2006 versus a loss of $311.4 million, or 23centsper share, in the same period a year earlier. Revenues more than doubled to $193.4 million (EUR 146.18 million) from $80milliona year earlier. Analysts polled by Thomson Financial were expecting a loss of 19 cents per shareonrevenues of $173 million (EUR 130.76 million). Sirius, which is based in New York, ended the year with just over 6 millionsubscribers,82 percent higher than the 3.3 million it had a year earlier. Sirius has agreed to buy its Washington, D.C.-based rival XM in a combinationthatwould create one large provider of satellite radio services, but the deal, which the companies announced last week, will face tough regulatory scrutiny inWashington.The companies describe the transaction as a merger of equals, but Sirius ispayinga premium for XM's stock, and the new company will be run by Sirius' CEO Mel Karmazin while XM's CEO Hugh Panero is departing.Sirius also reported Tuesday that its average monthly "churn" rate, or the rateatwhich paying subscribers leave, rose to 2 percent in the fourth quarter from1.5percent in the same period a year ago. That figure is closely watched by investors because it could suggest higher costs for growing its subscriber base.Siriussaid it expects average monthly subscriber churn between 2.2 percent and 2.4 percent in 2007.In other figures also monitored by investors, Sirius said its cost for acquiringeachsubscriber fell to $103 from $113 in the same period a year ago. However, the total number of "gross" subscriber additions - before accounting fordropouts - fell 2.5 percent to 1.23 million in the fourth quarter. Both Sirius and XM have posted major financial losses as they build up theirsubscriberbases and programming lineups. Shares of both companies declined more than 40 percent last year amid concernsaboutslowing growth, particularly in retail sales. The companies are increasingly looking to add subscribers through radio units that comepre-installedin vehicles. Sirius said it expects to have more than 8 million subscribers by the end of2007and revenues approaching $1 billion (EUR 760 million). For the full year 2006, Sirius posted a net loss of $1.1 billion (EUR 830million),or 79 cents per share, versus a loss of $863 million, or 65 cents per share, a year earlier. Full-year revenues rose to $637.2 million (EUR 481.63million)from $242.2 million in 2005. Sirius shares fell 9 cents, or 2.4 percent, to $3.65 on the Nasdaq Stock Market.Theyhave traded in a 52-week range of $3.50 to $5.57. By SETH SUTEL AP Business Writer Copyright (C) 2007 The Associated Press. All rights reserved.-0-Source: Comtex Wall Street News