Sirius Satellite Radio Downgrades 2006 Subscriber Forecast
New York - Sirius Satellite Radio has updated its subscriber forecast for the year, downgrading its previous estimate of 6.3 million to between 5.9 and 6.1 million subscribers.
"While strong, this year's retail sales results since the Thanksgiving weekend have not been at the pace we had anticipated," said Sirius CEO Mel Karmazin. "We have consistently focused on disciplined growth and continue that focus as we look to generate positive free cash flow this quarter."
The company now expects to add a total of 2.6 million to 2.8 million subscribers in 2006, representing growth of 80% to 85% over 2005.
Related Links:
http://biz.yahoo.com/prnews/061204/nym275.html?.v=18
http://www.siriusradio.com
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