New York – Sirius XM Radio (NASD: SIRI) added 1.4 million net new subscribers last
year, ending 2010 with a record 20.2 million subscribers, up 8% from the end of
2009.
The company reported 2010 revenues of $2.82 billion, up 14% over 2009
revenues, and earnings of $626 million, up 35% from the prior year. Net income
was $43.1 million, compared with a net loss of $538.2 million in 2009.
The
company reported a fourth-quarter 2010 net loss of $81.4 million, compared with
net income of $11.8 million in the same period of 2009.
"Our renewed
contracts with Howard Stern and the NFL, as well as investments in exciting new
content, ensure that our subscribers will continue to enjoy the unparalleled
entertainment that has made SiriusXM the largest subscription radio company in
the world," said Karmazin.
"With the outlook for improving U.S. auto
sales, declining capital expenditures and the expanded functionality coming
with the launch of SiriusXM 2.0, we look forward to another year of growth and
strong financial performance."
For 2011, Sirius XM anticipates it will add
another 1.4 million net new subscribers.
Related Links:
http://investor.sirius.com/releasedetail.cfm?ReleaseID=550111
