XM Canada: 120,000 Subs, Revenue Up
November 16, 2006 at 4:47 PM (PT)
XM CANADA parent CANADIAN SATELLITE RADIO fiscal fourth quarter revenue jumped 46% to C$3.4 million, with the subscriber count exceeding 120,000 subscribers, beating the previous guidance of 75,000 subs. Fourth quarter adjusted operating loss hit C$14.4 million. The company had not commenced operations at this time last year.
The company also announced that GENERAL MOTORS CANADA VP/Sales, Service and Marketing MARC COMEAU has joined the Board of Directors, replacing his GM predecessor MICHAEL GRIMALDI, who left to move to GM's Asian division.