XM In The News
April 27, 2006
XM satellite Radio reports earnings today, but the wires have already been busy with several reports regarding the satellite radio company.
Satellite Standard Group will listen to the call today, and provide our re-cap. At this point it is prudent to look at some of the basics as the have been filed.
The street was expecting a loss of about 53 cents per share. XM missed this number and posted a loss of 60 cents per share.
Revenue beat the streets expectations $201,500,000 by about 6.5 million. XM posted revenue of $208,000,000
SSG had noted that it was very important that XM bring their expenses into line While the loss was bigger than expected, XM did bring down SAC down to $62. This figure is still above the lower numbers of early 2005, but does show an improvement over the fourth quarter.
In other news, it appears that the FCC may have issues with the SKYFI 2 satellite radio, and that the FTC may have issues with XM’s marketing practices. It appears that probes into both issues have been launched by the agencies.
Early trading of XM shares has not been pretty. It is unclear what the street is taking the biggest exception to, but it is clear that some, or all of the news is not being well received.
At this point it boils down to Hugh Panero, and the presentation he will give in about 30 minutes.
As stated, SSG will be offering post conference call follow-up this afternoon.
The link to this write up is
http://tinyurl.com/syt2m4/27/2006 09:38:00 AM
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