Earnings: Sirius Q4 Revs Up 29 Percent; Net Loss Narrows; Still Waiting On Merger Approval

With the clock still ticking on the regulatory front, satellite radio operator Sirius (NSDQ: SIRI) has reported Q4 revenue of $249.8 million, a 29.2 percent increase from $193.4 million in the year-ago period. Net loss narrowed to $166.2 million ($.11 per share) from $245.6 million ($.17 per share). The company says it ended the year with 8.32 million customers, 38 percent more than the 6.02 million it had at the end of 2006. Most of the growth came from an 87 percent increase in OEM subscribers (pre-installed in cars). The higher level of OEM subscribers allowed the company to reduce subscriber acquisition costs (SAC) by 17.4 percent to $99.9 million.

Release | Webcast (8:00 AM ET)

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