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Sirius XM Posts Q4 Profit, Higher Sales

3/11/2009 09:58:00 AM Eastern

New York — Sirius XM reported higher pro forma revenues, an adjusted pro forma profit and 10 percent more subscribers for the fourth quarter, ended Dec. 31.

Fourth-quarter pro forma revenue grew 16 percent to $644.1 million, compared with $557.5 million in the previous year’s fourth quarter. The pro forma adjusted loss from operations was $31.8 million compared to a loss of $224.1 million for the fourth quarter of the previous year.

Total subscribers by the end of the year were 19 million, up from the previous year’s 17.3 million.

For the year, total pro forma revenue was $2.4 billion, compared with the previous year’s $2.1 million, an 18.4 percent gain. The company said it was driven by an increase in subscriber revenue and a net increase in subscribers.

Sirius XM’s pro forma adjusted loss decreased $429.2 million in 2008 to $136.3 million. The prior year’s loss was $565.5 million. The improvement was due to an 18 percent increase in revenue and a 4.2 percent decrease in expenses.

Sirius XM will hold a conference call tomorrow morning at 8 a.m. Eastern time via the company’s Web site, www.sirius.com, and on its satellite-radio service at Sirius channel 126 or XM channel 90, to discuss the results.

 

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