XM Canada Q2 Revenues Up
April 10, 2009 at 5:12 AM (PT)
CANADIAN SATELLITE RADIO HOLDINGS, parent of XM CANADA, reports that total revenue rose 39% in fiscal second quarter to C$12.8 million, attributed to an increase in subscriber revenue. Adjusted operating loss narrowed 33% to C$6 million, but net loss widened from C$17.8 million to C$20.8 million (37 to 43 cents/share).
"Our results are encouraging considering these challenging economic times," said Pres./CEO MICHAEL MOSKOWITZ. "Satellite radio offers a high level of entertainment at a very attractive price and, as a result, consumers continue to adopt the great, high-quality listening experience of XM. We continue to grow revenue and increase the number of self-paying subscribers. We are focused on executing against our business plan, which means pursuing a number of key growth initiatives and opportunities and managing costs across every level of the business in order to achieve our two key long-term objectives: sustainable cash flow and profitability."