Wednesday, March 11, 2009

Sirius XM Not Out Of The Woods Yet

Good news, but not great news for Sirius XM.

Sirius lost $248.5 million on $644 million of Q4 sales, better than the $405 million (pro-forma) loss on $558 million of sales during Q4 '07. The Street had expected Sirius to report $616 million in Q4 sales, so it beat by about $28 million, or about 4%.

Sirius XM beat expectations for its Q4 sales but still lost nearly $250 million, according to the Associated Press.The satellite radio service's sales on a pro forma basis hit $644 million, up from $577 million last year. "In the fourth quarter 2008, the company's first full quarter of combined operations, SIRIUS XM made remarkable financial progress," says Mel Karmazin, CEO of Sirius in a press release.

Despite still being sorely wounded financially, Sirius XM still has some fight left in it. If you want to use hate mail as a metric of success, whenever I've posted about Sirius XM, I get deluged by comments from transparently pro-terrestrial radio astroturfers. If Sirius XM wasn't threatening to them, the bashers wouldn't work so hard.

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