WorldSpace Revenues Down, Sub Count Slips
November 9, 2007 at 5:49 AM (PT)
WORLDSPACE SATELLITE RADIO lost 12,689 subscribers in third quarter, ending up with 177,644 subscribers worldwide. The decline is blamed on losses in INDIA and the cessation of marketing in EUROPE in advance of a test and launch of mobile services there. However, in INDIA, where the company lost 8,713 net subs this quarter, the total of 164.902 subs is 19% higher than at the end of the same quarter a year ago.
Revenues were flat at $3.3 million, with net loss widening from $28.9 million to $36.7 million (77 to 91 cents/share).