XM Radio Adds 442,000 Subscribers in Quarter; Falls Shy of '07 Goal

Authored by dmw on January 5, 2007 - 9:28am.

Washington, DC - XM Satellite Radio, the DC-based provider of subscription satellite radio services, said on Friday that it added more than 442,000 new net subscribers during the fourth quarter, but fell just short of its target for the year. XM finished the year with 7.625 million subscribers, missing its own estimates of 7.7-7.9 million. The company, however, said that it achieved positive cash flow from operations during the fourth quarter.

Hugh Panero, the CEO of XM, labeled the figures a success, saying that his company "completed another year of significant subscriber growth, despite retail softness, and did so with continued cost controls."

Earlier this week, rival Sirius Satellite Radio announced that it added nearly 905,000 subscribers during the quarter to finish the year with more than 6 million.

Related Links:
http://xmradio.mediaroom.com/index.php?s=press_releases&item=1409
http://www.xmradio.com