Washington — XM Satellite Radio added nearly 1.7 million subscribers in 2006, reaching 7.6 million, and said it achieved positive cash flow during the fourth quarter.
The tally fell just short of XM’s projected subscriber total of 7.7 million to 7.9 million for the year. For the quarter, XM added more than 442,000 net new subscribers.
CEO Hugh Panero said, “XM completed another year of significant subscriber growth, despite retail softness, and did so with continued cost controls, achieving positive cash flow from operations during the fourth quarter.”
Rival Sirius, which also achieved positive cash flow for the quarter, said it gained 2.6 million to 2.8 million net new subscribers for the year, hitting close to 6 million subscribers in total.