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Sirius XM (NASDAQ:SIRI) CEO Mel Karmazin on Q1, Liberty Media’s (NASDAQ:LMCA) Stake

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Posted 02 May 2012 — by Tom Taylor
Category Investing, Media, Radio Industry, Sirius XM (SIRI) News, Trading

By Tom Taylor

The following article comes from Tom Taylor’s newsletter, Taylor on Radio-Info.

“40% is not the new 50%” – Karmazin disputes Liberty Media’s claim of de facto control of Sirius XM Radio (NASDAQ:SIRI).

Mel Karmazin

Two different analysts asked that question during yesterday’s Q&A, and CEO Mel Karmazin answers that “There are 13 members of our board and Liberty has five participants of that 13. Liberty’s 40% [stake] is a significant influence, but not control. As we said in our filings, 40 is not the new 50.” Even so, he’s not being “combative” with John Malone and Greg Maffei at Liberty Media. He says “they want to keep their options open” with last month’s filing at the FCC. Whatever the long-term outcome, Wall Street wasn’t too worried yesterday. SiriusXM stock (“SIRI”) slipped about 1% to close at $2.23, and at one point it hit $2.31. That’s not far from the 52-week high of $2.44. That’s because the first quarter report had some impressive stories to tell — Read More

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Tags: 2.0, Analyst, analysts, auto sales, board, cash, cash flow, CEO, Churn, churn rate, claim, company, Conference Call, control, conversion rate, de facto control, EBITDA, FCC, filing, First Quarter, first quarter report, forecast, Free Cash Flow, Greg Maffei, guidance, John Malone, Karmazin, leverage, Liberty, Liberty Media, LMCA, Mel, Mel Karmazin, NASDAQ, NASDAQ: SIRI, NASDAQ:LMCA, NASDAQ:SIRI, net subscriber additions, numbers, options, Q&A, Q1, Q1 numbers, radio, raised rates, rate, rate hike, report, revenue, satcaster, Satellite Radio, Satellite Radio 2.0, self-pay, self-pay net subscriber additions, SIRI, Sirius, Sirius Radio, Sirius XM, Sirius XM Radio, SiriusXM, SiriusXM Radio, stake, stock, Subscriber Additions, Subscriber growth, Subscribers, Tom Taylor, total subscriber number, trial, unpaid trial inventory, Wall Street, XM, XM Radio

Sirius XM Radio (NASDAQ:SIRI) Reports Record Breaking First Quarter Results

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Posted 01 May 2012 — by Demian Russian
Category Analyst Coverage, Automotive, Internet Radio, Investing, Media, Programming News, Radio Industry, Sirius XM (SIRI) News, Trading

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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Tags: 2.0, 2012, Analyst, auto sales, CEO, Churn, company, Conference Call, Demian Russian, EBITDA, financial, First Quarter, first quarter results, Free Cash Flow, guidance, Income, Karmazin, management, Mel, Mel Karmazin, NASDAQ: SIRI, NASDAQ:SIRI, price increase, Q1, Q1 results, quarter, radio, results, revenue, Satellite Radio, Satellite Radio 2.0, SIRI, Sirius, Sirius Radio, Sirius XM, Sirius XM Radio, SiriusXM, SiriusXM Radio, Subscribers, XM

Sirius XM Radio (NASDAQ:SIRI) and Auto Sales: TrueCar Forecasts Highest April SAAR Since 2007

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Posted 25 Apr 2012 — by Demian Russian
Category Analyst Coverage, Automotive, Media, Radio Industry, Sirius XM (SIRI) News

By Demian Russian

Sirius XM Radio (NASDAQ:SIRI) CEO Mel Karmazin stated during the company’s last quarterly conference call that the consensus for 2012 total U.S light vehicle sales was $13.7 million and that the expected year-over-year growth of 8% provided a “solid foundation for subscriber growth this year.” While offering up full-year 2012 net new subscriber guidance of only 1.3 million, which comes in below the 1.7 million net new subscribers the company was able to generate last year and even below the 1.4 million the company was able to garner in 2010, Karmazin even added that he was “very optimistic about our ability to grow subscribers” and that he expected a “bigger contribution from the reactivation of radios in used cars” this year. With so much optimism, why guide for only 1.3 million net subscriber adds? Karmazin explained that management’s 2012 full-year subscriber guidance was “tempered by our sense of conservatism around the price increase we implemented January 1st, 2012.” That being said, Karmazin did add, “We will update our guidance, if appropriate, as the year progresses.”

In light of a strengthening auto sales channel, it may become more “appropriate” to raise subscriber guidance. Read More

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Tags: 2012, April auto sales, April SAAR, auto sales, CEO, company, Conference Call, Demian Russian, fleet, forecast, guidance, incentive spending, incentives, industry, industry sales, inventory, Jesse Toprak, Karmazin, Kristen Andersson, management, market, market share, Mel, Mel Karmazin, NASDAQ, NASDAQ: SIRI, NASDAQ:SIRI, new car sales, new light vehicle sales, price increase, radio, rental, SAAR, sales, Satellite Radio, Seasonally Adjusted Annualized Rate, SIRI, Sirius, Sirius Radio, Sirius XM, Sirius XM Radio, SiriusXM, SiriusXM Radio, subscriber guidance, Subscribers, TrueCar, unit sales, used car sales, XM, XM Radio

Sirius XM (NASDAQ:SIRI): Standard & Poor’s Analyst Tuna Amobi Raises Price Target to $3.00

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Posted 03 Apr 2012 — by Demian Russian
Category Analyst Coverage, Howard Stern, Internet Radio, Media, Radio Industry, Sirius XM (SIRI) News

By Demian Russian

Tuna Amobi

In a newly issued research note, Standard & Poor’s Media and Entertainment Analyst Tuna Amobi reiterates his BUY rating on shares of Sirius XM Radio (NASDAQ:SIRI) and raises his price target from $2.50 to $3.00. Following what he describes as a “remarkable” 2011 for the satellite radio service provider, Amobi views Sirius XM’s near term financial targets suggesting a “positive inflection point.” While expecting a continuing rebound in new vehicle sales to be the main catalyst, Amobi also considers the longer-term potential of the company’s initiatives in the used auto market. He views Liberty Media’s (NASDAQ:LMCA) actions following the March 6th, 2012 standstill expiration date as creating potential upside in the short-term. Read More

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Tags: 2.0, 2012, 2013, Advertising, advertising sales, agreement, Analyst, application, ARPU, auto sales, Average Revenue Per User, business, Churn, company, contractual, contractual lawsuit, conversion, conversion rate, conversion rates, cost control, cost controls, customer service, Demian Russian, earnings, Earnings Per Share, EBITDA, Entertainment, EPS, equity, estimate, estimates, EV/EBITDA, FCC, FCC application, governance, Howard, Howard Stern, Internet, Internet Radio, lawsuit, Liberty, Liberty Media, LMCA, marketing, Media, NASDAQ, NASDAQ: SIRI, NASDAQ:LMCA, NASDAQ:SIRI, new vehicle sales, NOL's, package, poison pill, preferred stock, premium, premium programming, price hike, price target, price-to-sales, programming, radio, rate, rates, rating, recommendation, research, research note, Retail, retail channel, revenue, S&P, SAC, sales, Satellite Radio, shareholders, SIRI, Sirius, Sirius Radio, Sirius XM, Sirius XM Radio, SiriusXM, SiriusXM Internet Radio, SiriusXM Radio, Standard & Poor’s, Standard and Poor’s, standstill, standstill agreement, Stern, stock, Subscriber Additions, target price, tiers, total revenue, Tuna Amobi, U.S., U.S. auto sales, ubscriber Acquisition Costs, XM, XM Radio

Sirius XM Radio (NASDAQ:SIRI) and Auto Sales: February New Car Sales Expected to Be the Highest in Nearly Four Years — TrueCar Upgrades 2012 Forecast to 14.0 Million

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Posted 24 Feb 2012 — by Demian Russian
Category Analyst Coverage, Automotive, Media, Radio Industry, Sirius XM (SIRI) News

By Demian Russian

During Sirius XM Radio’s (NASDAQ:SIRI) Q4 conference call CEO Mel Karmazin stated, “The consensus for auto sales in 2012 is approximately $13.7 million…the fact that U.S. light vehicle sales should be up by 8% provides a solid foundation for subscriber growth this year.” Sirius XM management offered 2012 guidance for 1.3 million net new subscriber additions, which comes in below 2011′s 1.7 million and even 2010′s 1.4 million net new sub adds. While Karmazin even noted that he was “very optimistic about our ability to grow subscribers” and that he expects a “bigger contribution from the reactivation of radios in used cars” in 2012, he explained that the comapany’s subscriber guidance was “tempered by our sense of conservatism around the price increase we implemented January 1st, 2012.” Karmazin added, “We will update our guidance, if appropriate, as the year progresses.”

The year seems to be progressing well for auto sales according to TrueCar’s official February 2012 auto sales and incentives forecast, released today. TrueCar expects new car sales in February to be the highest in nearly four years. TrueCar is forecasting that new light vehicle sales in the U.S. (including fleet) during the month of February will total 1,088,321 units, up 19.2% month-over-month and 9.6% year-over-year. This translates into a SAAR (Seasonally Adjusted Annualized Rate) of 14.3 million, up from 13.3 million in February 2011 and up from 14.2 million in January 2012. TrueCar also upgraded its 2012 total sales forecast from 13.8 to 14.0 million. Read More

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Tags: 2012, 2012 auto sales, auto sales, Automakers, car sales, CEO, CEO Mel Karmazin, consumer demand, Demian Russian, Dow Jones Industrial Average, February, February 2012 auto sales, February auto sales, fleet, forecast, guidance, incentive spending, Jesse Toprak, Kristen Andersson, light vehicle sales, management, market, market share, NASDAQ, NASDAQ: SIRI, NASDAQ:SIRI, new cars, price increase, radio, SAAR, sales, Satellite Radio, SIRI, Sirius, Sirius XM, Sirius XM Radio, SiriusXM, stock, stock market, Subscribers, True Car, TrueCar, truecar.com, U.S., U.S. light vehicle sales, unit sales, used cars, vehicle sales, XM

Barrington Research Associates Senior Analyst James C. Goss To Weigh In On Sirius XM Radio (NASDAQ:SIRI) Ahead of Q4 Earnings — Tonight at 8:00PM ET

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Posted 08 Feb 2012 — by Demian Russian
Category Analyst Coverage, Media, Radio Industry, Sirius XM (SIRI) News

By Demian Russian

On the eve before Sirius XM Radio’s (NASDAQ:SIRI) Q4 earnings release and conference call, Barrington Research Associates Senior Investment Analyst covering the Media and Entertainment Industry, James C. Goss, will be discussing his thoughts on the Satellite Radio service provider during an exclusive, live interview with Playground Radio tonight, Wednesday, February 8th, at 8:00PM Eastern.

On the heels of Sirius XM Radio’s (NASDAQ:SIRI) pre-announcement of Q4 2011 net subscriber additions, Goss, reiterated his OUTPERFORM rating on the company’s stock and upgraded his price target from $2.40 to $3.00. Goss saw recovering auto sales continuing to fuel the company’s OEM-driven subscriber growth metrics. Goss also noted additional growth from expanding initiatives in the used auto market, particularly from Certified Pre‐Owned auto sales programs. Goss’ 2012-based $3.00 price target is based on a ~25X multiple of his 2012 EV/EBITDA estimates. Read More

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Tags: Analyst, auto market, auto sales, Barrington, Barrington Research, Barrington Research Associates, Certified Pre‐Owned, company, Demian Russian, earnings, earnings release, EBITDA, Goss, interview, James C. Goss, Jim Goss, Media, NASDAQ, NASDAQ: SIRI, NASDAQ:SIRI, OEM, price target, Q4, Q4 earnings, radio, rating, Satellite Radio, SIRI, Sirius, Sirius XM, Sirius XM Radio, SiriusXM, stock, used auto market, XM

Sirius XM Radio (NASDAQ:SIRI): Strong New Car Sales in January Indicates a Good Start for 2012 According to TrueCar Official Forecast

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Posted 25 Jan 2012 — by Demian Russian
Category Analyst Coverage, Automotive, Sirius XM (SIRI) News

By Demian Russian

With SIrius XM Radio (NASDAQ:SIRI) CEO Mel Karmazin pre-announcing that the company has beat their 2011 year-end net subscriber guidance, adding ~550,000 net new subscribers in the fourth quarter and ~1,700,000 net new subscribers in 2011, investors are now focused on how 2012 is shaping up so far. While Sirius XM is making great new strides in penetrating the used auto market with free promotional trial programs, North American new vehicle sales remains the largest driver fueling Sirius XM’s subscriber growth trajectory.

Premier auto industry tracker TrueCar released their official January 2012 auto sales forecast today and is seeing continuing strength in the U.S. auto sector, noting that January retail sales will be up for the sixth straight month of year-over-year growth.

The underlying consumer demand for new vehicles continues to improve at a steady pace. For the first time in several years, we are starting the year off with a warm and fuzzy feeling of the good-old-days where the industry and the consumers are once again focused on the excitement of the new cars –and not which car company is going to survive. The positive momentum from the end of 2011 and a reasonable January 2012 sales rate will likely take industry sales very close to 14 million units this year.

– Jesse Toprak, Vice President, Market Intelligence, TrueCar.com

According to TrueCar’s January 2012 official forecast, new light vehicle sales in the U.S. for the month of January will total 874, 481 units, up 6.7% year-over-year and down 29.6% month-over-month, which translates into a SAAR (Seasonally Adjusted Annualized Rate) of 13.6 million, up from 12.7 million in January 2011 and flat month-over-month. Read More

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Tags: auto sales, auto sector, car sales, Demian Russian, fleet, forecast, Free, free promotional trial, free trial, incentive spending, interview, January, Jesse Toprak, Kristen Andersson, NASDAQ, NASDAQ: SIRI, NASDAQ:SIRI, new car sales, new light vehicle sales, OEM, radio, rental, Retail, retail sales, SAAR, sales, Satellite Radio, Seasonally Adjusted Annualized Rate, SIRI, Sirius, Sirius XM, Sirius XM Radio, SiriusXM, True Car, TrueCar, truecar.com, used car sales, vehicle sales, XM

Sirius XM Radio (NASDAQ:SIRI) and December Auto Sales: Highest Unit Sales Since March 2011 According to TrueCar

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Posted 27 Dec 2011 — by Demian Russian
Category Analyst Coverage, Automotive, Media, Radio Industry, Sirius XM (SIRI) News

By Demian Russian

With Sirius XM Radio’s (NASDAQ:SIRI) subscription radio business tied so closely to North American auto sales and Satellite Radio activations at the OEM level, and with the company needing to bring in 442,000 net new subscribers during the fourth quarter to meet its 2011 full-year subscriber guidance for 1.6 million net additions, investors are closely monitoring the U.S auto industry for continuing signs of strength heading into the close of the year.

TrueCar released their official December 2011 sales and inventives forecast today and is expecting total new light vehicle sales in the U.S. (including fleet) for the month of December will be 1,236,911 units, representing an 8.1% year-over-year and a 24.4% month-over-month improvement. This translates into a SAAR (Seasonally Adjusted Annualized Rate) of 13.5 million, down from a November SAAR of 13.7 million but up year-over-year from a December 2010 SAAR of 12.5 million.

December’s sales rate was a continuation of the rather slow and steady recovery that now symbolizes 2011. This year was absent of a blockbuster sales month but we see this pace of growth as healthy and sustainable in the coming year where the industry is going to sell nearly 14 million units based on the merits of its products and improved economy.

– Jesse Toprak, Vice President of Industry Trends and Insights for TrueCar.com

While fleet and rental sales are expected to make up 19% of the month’s total sales, TrueCar expects retail sales to be up 8.7% year-over-year and 26% month-over-month. Higher retail sales are traditionally more beneficial to Sirius XM, carrying higher penetration and conversion rates. Read More

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Tags: auto, auto industry, auto sales, Automakers, business, Chrysler, December, December auto sales, Demian Russian, estimate, fleet, fleet sales, Ford, forecast, General Motors, GM, guidance, Honda, Hyundai, incentive spending, inventives, Jesse Toprak, Kia, Kristen Andersson, NASDAQ, NASDAQ: SIRI, NASDAQ:SIRI, Nissan, OEM, radio, Retail, retail sales, SAAR, sales, Satellite Radio, Seasonally Adjusted Annualized Rate, SIRI, Sirius, Sirius XM, Sirius XM Radio, SiriusXM, subscription, Toyota, True Car, TrueCar, truecar.com, U.S., XM

Sirius XM (NASDAQ:SIRI) Utilizes SAS Analytics

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Posted 30 Nov 2011 — by Demian Russian
Category Media, Radio Industry, Sirius XM (SIRI) News, Technology

By Demian Russian

Sirius XM Radio (NASDAQ:SIRI) and SAS Analytics have announced that the Satellite Radio service provider will now be utilizing predictive analytics software and services from SAS, the leader in business analytics. With the aid of predictive analytics from SAS, Sirius XM will be modeling its customer behavior patterns to better guide its marketing initiatives. Targeting the right customer, at the right time, with the right message results in more effective marketing, helping Sirius XM to grow its subscriber base while also reducing costs.

We use SAS Analytics to project costs and benefits before making meaningful investments at Sirius XM Radio. What looks like tiny incremental gains in performance mean a lot to us. With 20 million customers, a 50-cent improvement in profitability delivers millions of dollars to our bottom line.

– Kaiser Fung, Vice President of Strategic Analytics at SiriusXM and the author of ‘Numbers Rule Your World: The Hidden Influence of Probability and Statistics on Everything You Do’

Sirius XM will now be utilizing SAS Analytics’ award-winning data mining software, SAS Enterprise Miner, to exploit its massive stores of data to craft more effective, as well as lower cost, marketing initiatives. “Analytics influence business decisions when analytics pros understand the landscape and can share their findings with executives in that context. Especially when analytical intelligence conflicts with conventional wisdom, if we make the benefits clear, the numbers win over skeptics and significantly benefit the organization,” said Kaiser Fung, Vice President of Strategic Analytics at SiriusXM Radio. In addition, Sirius XM will also be utilizing SAS Analytics’ advanced statistical software, JMP Pro, for data visualization, discovery and exploration.

Tapan Patel, Global Marketing Manager for Predictive Analytics and Data Mining at SAS, will be the special guest on this evening’s edition of Playground Radio for an exclusive, live interview. Read More

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Tags: analysts, analytics, auto sales, business, customer, data, Data Mining, Demian Russian, Enterprise Miner, exclusive, growth, industry, interview, Kaiser Fung, live, Market Playground, marketing, NASDAQ, NASDAQ: SIRI, NASDAQ:SIRI, Numbers Rule Your World, Numbers Rule Your World: The Hidden Influence of Probability and Statistics on Everything You Do, Predictive Analytics, radio, SAS, SAS Analytics, SAS Enterprise Miner, Satellite Radio, Seeking Alpha, services, SIRI, Sirius, Sirius XM, Sirius XM Radio, SiriusBuzz, SiriusXM, software, Spencer Osborne, subscriber, Subscriber growth, Tapan Patel, XM

Sirius XM Radio (NASDAQ:SIRI) and Auto Sales: Edmunds Releases Official November Forecast

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Posted 29 Nov 2011 — by Demian Russian
Category Analyst Coverage, Automotive, Sirius XM (SIRI) News

By Demian Russian

With Sirius XM Radio (NASDAQ:SIRI) needing to bring in 442,000 new subscribers during the fourth quarter to meet its full-year subscriber guidance of 1.6 million net additions and the company deriving the large majority of its new subscribers additions from OEM Satellite Radio activations, investors are closely watching the auto sales channel for signs off strength heading into the close of year.

There were positive forces in the auto market in November, as more inventory was available and automakers began year-end holiday sales events. Deal-oriented messages work more effectively than ever before.

– Jessica Caldwell, Senior Analyst, Edmunds.com

Edmunds.com released their official November auto sales forecast today and reports that they are seeing positive forces in the auto industry which will push the U.S. new vehicle sales SAAR (Seasonally Adjusted Annual Rate) for November to the highest level of the year. Edmunds is forecasting total November new car sales of 991,296, which will translate into a 13.6 million SAAR. Read More

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Tags: auto sales, Demian Russian, Edmunds, Edmunds.com, F, Ford, forecast, General Motors, GM, HMC, Honda, Jessica Caldwell, NASDAQ, NASDAQ: SIRI, NASDAQ:SIRI, NYSE, NYSE:F, NYSE:GM, NYSE:HMC, NYSE:TM, OEM, production, radio, Ray Zhou, SAAR, Satellite Radio, SIRI, Sirius, Sirius XM, Sirius XM Radio, SiriusXM, Subscribers, Thailand, TM, Toyota, XM

Sirius XM (NASDAQ:SIRI) and November Auto Sales: Highest SAAR for New Vehicle Sales Since Cash for Clunkers According to TrueCar.com

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Posted 23 Nov 2011 — by Demian Russian
Category Analyst Coverage, Automotive, Sirius XM (SIRI) News

By Demian Russian

With Sirius XM Radio’s (NASDAQ:SIRI) subscription business tied so closely to OEM Satellite Radio activations, many investors have their eyes on continuing signs of recovery in the U.S. auto industry.

TrueCar.com released their official November 2011 sales and inventives forecast today and is forecasting that the new U.S. light vehicle sales SAAR (Seasonally Adjusted Annualized Rate) for the month of November will reach 13.3 million, up month-over-month from 13.2 million in October and up 11.5% year-over-year from 12.3 million in November 2010. Total new light vehicle sales in the U.S. (including fleet) is expected to be 972,712 units, up 11.5 percent year-over-year from November 2010, but down 4.7% month-over-month from October 2011 (on an adjusted basis). This translates to the highest new vehicle sales SAAR since Cash for Clunkers.

We’ve seen six straight months of year-over-year gains for new vehicle sales, which shows positive momentum for the auto industry. There is a strong possibility that we could reach a 14 million SAAR next month.

– Jesse Toprak, Vice President of Industry Trends and Insights for TrueCar.com

According to TrueCar’s forecast, retail auto sales are up 12.2% year-over-year, with fleet and rental sales expected to make up 19% of the total industry sales for the month. TrueCar is seeing an uptick in incentive spending by the automakers across the board in November and are forecasting that the average incentive spending per unit for the month will come in at $2,534. Read More

Tags: 2011, auto sales, Automakers, business, Demian Russian, forecast, incentive spending, incentives, Jesse Toprak, Kristen Andersson, light vehicle sales, NASDAQ, NASDAQ: SIRI, NASDAQ:SIRI, new vehicle sales, November, November 2011, November auto sales, OEM, radio, SAAR, sales, Satellite Radio, Seasonally Adjusted Annualized Rate, SIRI, Sirius, Sirius XM, Sirius XM Radio, SiriusXM, subscription, True Car, TrueCar, truecar.com, used vehicle sales, XM

Sirius XM (NASDAQ:SIRI): RBC Capital Markets Analyst David Bank Maintains $2.00 Price Target

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Posted 04 Nov 2011 — by Demian Russian
Category Analyst Coverage, Media, Sirius XM (SIRI) News

By Demian Russian

RBC Capital Markets Global Media Analyst David Bank issues a new research report weighing in on Sirius XM Radio’s (NASDAQ:SIRI) third quarter earnings results, maintaining his previous $2.00 price target and Sector Perform/Speculative Risk rating on the equity. While Bank describes Sirius XM’s third quarter results as being less than perfect, it’s the stock valuation as opposed to any operational issues which he says “keeps us on the sidelines.”

Sirius XM’s reported Q3 net subscriber additions of 334k came in below Bank’s estimate for 385k. According to Bank, the weakness in net sub adds lead to the company reporting higher EBITDA, as a result of the associated SAC (Subscriber Acquisition Costs) being lower. While net subscriber additions came in lower as a result of lower net promotional subs, Bank says, “Quite frankly, we aren’t sure why net promotional sub additions came in ~65k below our expectations.” He says that part of it may have been the result of a weaker U.S. auto sales SAAR during the summer months and a slowdown in the OEM production cycle in Asia, due to residual impact from the earthquake in Japan. While Bank reduced some of his full-year 2011 estimates slightly, he expects a bounce in the fourth quarter due to “solid OEM trends in 3Q11 sales and production.” Read More

Tags: Analyst, auto sales, David Bank, Demian Russian, EBITDA, Media, NASDAQ, NASDAQ: SIRI, NASDAQ:SIRI, OEM, price target, radio, rating, RBC, RBC Capital, RBC Capital Markets, SAAR, Satellite Radio, SIRI, Sirius, Sirius XM, Sirius XM Radio, SiriusXM, XM

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Posts Tagged ‘auto sales’

Sirius XM (NASDAQ:SIRI) CEO Mel Karmazin on Q1, Liberty Media’s (NASDAQ:LMCA) Stake

Sirius XM Radio (NASDAQ:SIRI) Reports Record Breaking First Quarter Results

Barrington Research Associates Senior Analyst James C. Goss To Weigh In On Sirius XM Radio (NASDAQ:SIRI) Ahead of Q4 Earnings — Tonight at 8:00PM ET

Sirius XM Radio (NASDAQ:SIRI): Strong New Car Sales in January Indicates a Good Start for 2012 According to TrueCar Official Forecast

Sirius XM Radio (NASDAQ:SIRI) and December Auto Sales: Highest Unit Sales Since March 2011 According to TrueCar

Sirius XM (NASDAQ:SIRI) Utilizes SAS Analytics

Sirius XM Radio (NASDAQ:SIRI) and Auto Sales: Edmunds Releases Official November Forecast

Sirius XM (NASDAQ:SIRI) and November Auto Sales: Highest SAAR for New Vehicle Sales Since Cash for Clunkers According to TrueCar.com

Sirius XM (NASDAQ:SIRI): RBC Capital Markets Analyst David Bank Maintains $2.00 Price Target

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