Satellite Radio Blog

Thursday, January 13, 2011

Canadian Satellite loss for $2.2 million

Canadian Satellite said its average monthly subscription revenue per subscriber, or ARPU, increased to $11.40 from $11.26, marking the second consecutive quarter of ARPU growth, while the number of self-paying subscribers increased by 12.2 per cent to 439,300 from 391,600.

 Canadian Satellite Radio Holdings Inc. parent company of XM Canada, said Wednesday its adjusted operating loss increased in the first quarter despite higher revenues.
The company put its adjusted operating loss for the three months ended Nov. 30 at $2.2 million, up from $1.1 million in the same quarter last year. Per share figures were not given.Revenue rose 12.6 per cent to $15.4 million from $13.7 million in the prior-year period.
“Our high-quality programming and content are the foundation of our ability to attract and retain subscribers," XM Canada president and CEO Michael Moskowitz said in a news release.
"Despite challenges in the economy, revenue growth continues to be robust, driven by an increase in both ARPU and self-paying subscribers. The auto sector recovery and the expansion of our content delivery across multiple platforms – most notably in the online and mobile space – have also contributed to our solid results.”
Stock in the company, which reported after markets closed, was down five cents at $3.50 Wednesday on the Toronto Stock Exchange.

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