Friday, March 16, 2007

Slow Start For Directed Electronics

March 16, 2007

Cites slower retail sales of partner Sirius. Directed is the distributor for several popular Sirius units.

Via AP

VISTA, Calif. (AP) -- Directed Electronics Inc., which makes security and entertainment systems for homes and automobiles, said Friday it expects a sluggish start to 2007, due mostly to fewer new subscribers at Sirius Satellite Radio Inc.

The company said Sirius, a key customer for its satellite radio business, expects to add 2 million new subscribers in 2007, which is down from 2.7 million new subscribers in 2006. The subscriber forecast comes on the heels of lower-than-expected retail sales of satellite radio receivers in the fourth quarter, which led to higher inventory levels at stores.

Directed Electronics expects first-half earnings to fall to less than half of what it earned in the same period a year earlier, with the first quarter most challenging. It expects revenue in the range of $83 million to $87 million.........More HERE via AP and Yahoo

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3/16/2007 10:23:00 AM

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