By Demian Russian
SiriusXM CEO Mel Karmazin
Sirius XM Radio (NASDAQ:SIRI) released its Q1 2012 financial and operating results this morning and discussed those results during a conference call held at 8:00AM ET. The satellite radio service provider reported some record breaking numbers, including 405,000 net new subscribers for the quarter — the highest reported subscriber growth for the company in any Q1 since the 2008 merger of Sirius and XM.
The company also posted $805 Million in Quarterly Revenue, up 11% year-over-year and also a new record. Other highlights included Net Income of $108 Million ($0.02 per diluted share), which is up 38% year-over-year, Adjusted EBITDA of $208 Million, up 15% year-over-year, and Free Cash Flow of $15 Million, up from (-$17) million in the first quarter of 2011, the first time the company has ever reported a positive Free Cash Flow number in a first quarter.
All of this was possible while also reporting a decrease in self-pay monthly churn year-over-year, from 2.0% to 1.9%, which is also notable because this is the first quarter that subscribers were impacted by the price increase Sirius XM instituted on January 1st, 2012. The new vehicle consumer conversion rate remained stable at 45%. In light of a strengthening auto sales channel, Sirius XM management also raised their 2012 subscriber growth guidance from 1.3 Million to 1.5 million. Read More
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Sirius XM Radio (NASDAQ:SIRI) to Offer Live, Extensive 2012 NFL Draft Coverage
Category Media, Programming News, Radio Industry, Sirius XM (SIRI) News
By Demian Russian
On Thursday, April 26th, SiriusXM’s NFL Radio will kick off its live coverage from NFL Draft headquarters at Radio City Music Hall at 7:00PM Eastern, covering every selection from the first round. SiriusXM NFL Radio’s on-the-scene NFL Draft coverage will then return on Friday, April 27th at 7:00PM Eastern, covering every selection from rounds two and three. On Saturday, April 28, beginning 12:00PM Eastern, the live coverage will resume for rounds four through seven.
SiriusXM NFL Radio’s Draft coverage will also be available for live streaming online at SiriusXM.com and via the SiriusXM Internet Radio App for smartphones and mobile devices. Sirius XM’s Internet Radio platform now offers subscribers a newly expanded lineup of live play-by-play sports programing – with no blackouts – from MLB, NFL, NBA, NHL, NASCAR and more. Read More
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