Sirius (SIRI) Reports, Subscribers Hit 7.7 Million

Investing

Published: October 30, 2007 6:22 am

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Analysts expected Sirius’s (SIRI) revenue to hit $244 million, which would be a 46% improvement over the same quarter last year. EPS expectations are for a loss of $.08 compared to a $.12 loss last year.

The satellite radio company had a 45% increase in revenue from the year ago quarter to $241.8 million, and strong subscriber growth of 524,938 net additions during the quarter, driving ending subscribers up 50% from a year ago to approximately 7.7 million.

SIRIUS’ net loss improved by 26% to ($120.1) million, or ($0.08) per share, for the third quarter of 2007, from ($162.9) million, or ($0.12) per share, for third quarter 2006.

SIRIUS today issued the following guidance for the full year 2007:

— Total revenue approaching $1 billion
— More than 8 million subscribers at year-end
— Average monthly subscriber churn of approximately 2.2%-2.4%
— SAC per gross subscriber addition approaching $100

Douglas A. McIntyre

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