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XM Satellite's loss shrinks
Reuters February 10, 2005, 7:19 AM PT
http://news.zdnet.com/2100-1040_22-5570889.html
XM Satellite Radio Holdings said Thursday that fourth-quarter losses narrowed on revenue that more than doubled as its subscriber base grew.
The leader in the nascent pay-radio market, XM forecasts subscriber growth of about 71 percent this year and expects to reach cash flow break-even in 2006.
XM said it has more than 3.2 million subscribers, including a net 713,101 added in the fourth quarter.
The company posted a quarterly loss of $188.2 million, or 93 cents per share, compared with a loss of $162.9 million, or $1.12 a share, a year earlier. Revenue rose to $83.1 million, from $33.5 million, a year ago.
Analysts had expected a loss of 80 cents a share on revenue of $80.1 million, according to Reuters Estimates.
XM said its cost per gross addition, a measure of how much it spends to draw in new subscribers, was $100 in 2004, down from $137 in 2003.
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XM Satellite's loss shrinks
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