By Demian Russian
Sirius XM Radio’s (NASDAQ:SIRI) Chief Executive Officer Mel Karmazin, speaking as a keynote speaker at Citigroup’s (NYSE:C) Citi Global Entertainment, Media and Telecommunications Conference in San Francisco, California, today pre-announced that, based on preliminary Q4 subscriber data, Sirius XM had beat their 2011 year-end net subscriber guidance, adding about 550,000 net new subscribers in the fourth quarter and about 1,700,000 net new subscribers for the year.
Based on preliminary subscriber data, we are very pleased to announce that Sirius XM exceeded its subscriber guidance for the year. Our subscriber growth accelerated in 2011 as net additions grew approximately 20%, delivering our best year for net additions since the merger and demonstrating the strong continuing demand for our unmatched audio content.
– Mel Karmazin, Chief Executive Officer, SiriusXM
Based on today’s pre-announcement from CEO Mel Karmazin, Sirius XM ended 2011 with approximately 21.9 million subscribers. Sirius XM needed to garner approximately 440,000 net new subscribers in the fourth quarter to meet its year-end subscriber guidance for 1.6 million net new additions.
Disclosure: Long SIRI
Contact the author: DemianRussian@SatelliteRadioPlayground.com
blastoff
Siri is just warming up as I have been saying for the past 12 month. In February they will announce imoressive 2011 results with EBIDTA as high as $780 to $790MM, fcf reaching $415 to $420MM and revenue over $3B. I expect a profit of one or two cents per share in Q4 making it seven or eight cents for the entire 2012.
Most importantly, I expect Karmazin to update his guidance for 2012 to EBIDTA over $900M and fcf over $750M.
Since the merger happened I have been saying that the company is going to be a bonanza for its patient investors. 2011 Q4 sub count is another proof that I hjave been right all along. Mark my word!!!