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Sirius Satellite Radio Q1 2006 Financial Results

post #1 of 2
5/2/06 at 9:48am
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post #2 of 2
5/2/06 at 10:54am

Re: Sirius Satellite Radio Q1 2006 Financial Results

Great news for SIRI.

Quote:

-4,077,747 subscribers - 761,187+ net increase from December 31, 2005.
-Revenue up to $126 million
-SAC(Subscriber Acquisition Costs) was $113 per new sub for the first quarter.
-Loss (.33)/share or $452 million, but includes equity charges of (.20)/share or approx. $270 million, making the GAAP net loss $182 million, or (.12)/share.
-Guidance Raised to 6.2 million subs by year end, up from 6.0 million
-960,610 Total(gross) subscribers added in the first quarter.
-Churn 1.8%
-CPGA(Subscriber Acquisition Costs + marketing expenses) approximately $154.52
-Sirius has a 57.22% marketshare for net subscribers in the First Quarter!!
-ARPU(How much money they get from an average subscription is $10.80, up slightly from $10.72 in 1Q05

SIRIUS netted almost 60% of all new subscribers to a satellite service, basicaly pasting XM for Q1.

Other big news from their conference call:

Quote:
-First Live wearable this summer, as mentioned in the last conference call

-Sirius Canada growing faster than anticipated

-Rolling Stones Radio extended to the end of 2006!
-Chinese channel still coming, but not yet available
-Attracting many blue chip advertisers, such as Verizon and Subaru.

Great general outlook. Very impressive first quarter and they have increased their expectations for end of the year projections to 6.2M.
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