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XM Satellite Radio Extends Loss In Q2 With Launch Looming

Staff -- TWICE, 8/20/2001

WASHINGTON — With its commercial launch set for late summer, XM Satellite Radio extended both its consolidated operating loss and consolidated net loss for the second quarter ended June 30.

The company — which will offer up to 100 channels of digital-quality sound in providing coast-to-coast coverage of music, news, sports and talk programming — said its operating loss for the second quarter was $42.1 million, compared with $13.9 million in the year-ago three months. Net loss was $38.5 million, compared with $5.1 million in the second quarter of 2000.

For the six months, XM Satellite Radio reported an operating loss of $84.2 million, compared with $30.8 million in the same period last year. The company's net loss for the first half was extended to $75.4 million, up from $17.8 million in the year-ago period.

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