Worldspace Subs, Revenues Up, Losses Narrow In Q4
March 16, 2006 at 6:37 PM (PT)
WORLDSPACE says that it ended 2005 with 115,306 subscribers to its international satellite radio services, adding 40,235 in fourth quarter, a 160% increase over fourth quarter 2004. In INDIA, the service had 74,574 subscribers at year's end, up over 100% from third quarter and almost 800% from 2004.
Revenues rose 95% year-to-year to $4.4 million for fourth quarter, with subscription revenue up 160% to $1.1 million. Net losses narrowed from $418.2 million ($71.45/share) in fourth quarter 2004 to $33.2 million (90 cents/share) (the 2004 figures included stock compensation expenses and other costs associated with an inter-company consolidation and subsequent debt restructuring). EBITDA losses also narrowed from $101 million to $44.9 million.