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Media

Sirius Satellite Radio Earnings Q1 2007

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By Douglas A. McIntyre Published
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(SIRI) Sirius Satellite Radio $204M revenues and net loss was -$0.10; Estimates were $212 million revenues and -$0.10 EPS.

Its subscribers rose 556,490 to about 6.6 million; Churn rate was 2.3% and subscriber acquisition costs were $104.00.  Sirius also reaffirmed about 8 million subscribers and close to $1 Billion in revenues for 2007 with 2.2-2.4% churn rates and $95.00 subscriber acquisition costs. 

As far as addressing the merger with XM Satellite Radio (XMSR): The transaction is subject to approval by both companies’ stockholders, the satisfaction of customary closing conditions and regulatory review and approvals, including antitrust agencies and the FCC. The companies expect the transaction to be completed by the end of 2007.

We have not yet seen trades in SIRI, but preliminary indication look to be $3.00 to $3.10 versus the $2.96 close on Monday.

Jon C. Ogg
May 1, 2007

Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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