Sirius XM Up 4% In 2009
February 25, 2010 at 4:33 AM (PT)
SIRIUS XM RADIO has announced full-year 2009 results, including pro forma 2009 revenue of $2.53 billion, up 4% over 2008 pro forma revenue of $2.44 billion, and pro forma adjusted income from operations of $463 million, versus ($136) million in 2008.
"2009 was a notable year of firsts for SIRIUS XM. The first full year of positive pro forma adjusted income from operations and the first full year of positive free cash flow in the company's history," said CEO MEL KARMAZIN. "We demonstrated considerable operating momentum in the fourth quarter -- the addition of over 250,000 subscribers, ARPU growth, revenue growth, improved SAC, and continued operating cost reductions. These gains position us to deliver on our 2010 guidance."
In the fourth quarter 2009, the Company's pro forma average revenue per subscriber (ARPU) grew to $10.92 from $10.65 in the fourth quarter of 2008. The average self-pay monthly customer churn rate was 2.0% in the fourth quarter of 2009, as compared with 1.8% in the fourth quarter of 2008.