Sirius XM Has Break-Even Q3, Beating EPS and Revenue Estimates (SIRI)

Thu. November 05, 2009; Posted: 09:27 AM

Nov 05, 2009 (SmarTrend(R) News Watch via COMTEX) -- SIRI | Quote | Chart | News | PowerRating -- 11/5/2009 - Sirius XM (NASDAQ:SIRI) reported Q3 EPS of $0.00, ex-items, beating consensus analyst estimates for a loss of $0.02 per share. Revenue for the quarter rose 26.6% year-over-year to $618.6 million, topping consensus estimates of $608.7 million. CEO Mel Karmazin said, "We managed to grow revenue, grow ARPU, reduce operating costs, increase adjusted income from operations significantly, and refinance higher cost debt. We look forward to continuing this performance. We grew subscribers and improved churn in the quarter, and we are well positioned to take advantage of an economic rebound. We expect to grow subscribers, revenue, and cash flow next year regardless of the magnitude of any recovery." Commenting on outlook, he continued, "We expect the company's cash flow growth momentum to continue into 2010, and we project full-year adjusted income from operations to increase approximately 20% next year."

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on Sirius Xm Radio (SIRI) click here. Sirius Xm Radio (SIRI) has Short Term PowerRatings of 4. Details on Sirius Xm Radio (SIRI) Short Term PowerRatings is available at This Link.

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