Strong First Quarter For Sirius
May 1, 2007 at 5:47 AM (PT)
SIRIUS SATELLITE RADIO announced strong first quarter 2007 results, including a 61% increase in revenue to a record $204 million from the year ago quartera and strong first-quarter subscriber growth of 556,490, driving ending subscribers to approximately 6.6 million and accounting for 66% of satellite radio segment share.
"2007 is off to a great start," said SIRIUS CEO MEL KARMAZIN. "SIRIUS once again led the satellite radio segment in net subscriber additions marking the sixth straight quarter of leadership. At the same time, we increased revenue by 61% and reduced our net loss by 68% from last year's first quarter. We are very pleased with our strong operating results, and we are on track to meet our 2007 guidance."
SIRIUS ended first quarter of 2007 with 6,581,045 subscribers, up 61% from 4,077,747 subscribers at the end of the year-ago quarter. During first quarter of 2007, SIRIUS added 556,490 net subscribers consisting of 192,978 from the retail channel and 364,674 from the OEM channel. In first quarter of 2007, SIRIUS captured 66% of satellite radio segment share, marking the sixth consecutive quarter for leadership.