Lehman On Sirius' Q1 Expectations

April 30, 2007

SIRIUS SATELLITE RADIO (SIRI: $2.99, 1:OVERWEIGHT): 1Q07 EXPECTATIONS RECAP

We expect SIRI to report 1Q07 results tomorrow, May 1st before the open. The company has scheduled a conference call for 8:00AM EST (webcast: www.sirius.com) to discuss the results.

We recap our expectations for the quarter below and in the attached Excel file.

Subscribers. 523k net adds, 957k gross adds, churn of 2.30%, subscriber ARPU of $10.24.

Acquisition Costs. SAC of $102, CPGA of $138.

Revenue, EBITDA and FCF. $210MM revenue, $120MM EBITDA loss (including option expense), $0.11 EPS loss, $183MM FCF loss.

4/30/2007 06:35:00 PM

SSG Has Merged. You Can Read All Of The Latest SSG Content By Clicking Here

0 Comments:

Post a Comment

SSG is not a Financial Advisor. Read Disclosure: HERE

--------------------------------------------------------