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Sirius Lowers Subscriber Forecast

12/05/2006 09:29:00 AM Eastern

New York — Sirius Satellite Radio lowered its subscriber guidance from a previously stated 6.3 million, to a projected 5.9 million to 6.1 million total subscribers by the end of the year, citing slower than anticipated sales since the Thanksgiving weekend.

The figure would represent net new subscriber acquisitions for 2006 of 2.6 million to 2.8 million, which, despite the lowered forecast, would show strong year-over-year subscriber growth of approximately 80 percent to 85 percent.

The company also reiterated that it still expects to be free cash flow positive after capital expenditures in the first quarter of next year and possibly in the fourth quarter this year.

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