Sunday, March 23, 2008; Posted: 10:33 PM
The company noted that the milestone was attained in just over two years.
"An increasing proportion of our subscriber base is coming from our rapidly growing automotive channel, which is a key segment for long-term success in our industry," said Michael Moskowitz, President and Chief Executive Officer of XM Canada. "In addition to strong growth in automotive, we continued to gain momentum this quarter in retail sales due to our NHL exclusivity, strategic partnerships and strong Canadian consumer appetite for satellite radio during the holiday season. This is a pivotal year for XM Canada and we are confident our subscriber growth will continue to accelerate, enabling the company to achieve positive cash flow as early as the fourth quarter of 2008."
The subscriber numbers reported are based on unaudited results, the company noted in a release.
Canadian Satellite Radio Holdings operates as XM Canada and is a premium digital audio entertainment and information company with the best signal coverage across the country.
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