Chris Blount
04-22-04, 06:36 AM
Sirius added more than 90,000 customers during the first quarter, taking its total subscriber count to 351,663 as of March 31.
Sirius CEO Joe Clayton said during a conference call with Wall Street analysts Wednesday the satellite radio company is on track to meet its previously announced goal of 1 million customers by year-end 2004. Clayton said December 2003 was the best sales month on record for Sirius, while March 2004 was second best, with February and January close behind those top two months.
"The momentum is building," Clayton said.
In June and July, Sirius will conduct a "soft launch" of product sales with retailers selling EchoStar's DISH Network as part of a deal announced earlier this year, Clayton said. A national kick-off with DISH Network retailers will take place during the second half of 2004, he said. Also, 6 million DISH Network subscribers will soon get Sirius' audio streams.
In addition, Sirius said select Wal-Mart locations will soon offer its satellite radio products.
As for subscriber specifics, Sirius said it added more than 24,000 subscribers through its automotive, boating and trucking relationships during the first quarter. More than 65,500 subscribers signing up for service during the three-month period came from the retail aftermarket channel, the company said.
For the first quarter, Sirius recognized total revenue of $9.3 million, compared to $1.6 million reported in first quarter 2003. The company reported a first quarter loss from operations of $119.5 million, compared to a loss from operations of $99.1 million for the same three-month period in 2003.
Sirius said it ended the first quarter with $707 million in cash, cash equivalents and marketable securities.
http://www.skyreport.com (Used with permission)
Sirius CEO Joe Clayton said during a conference call with Wall Street analysts Wednesday the satellite radio company is on track to meet its previously announced goal of 1 million customers by year-end 2004. Clayton said December 2003 was the best sales month on record for Sirius, while March 2004 was second best, with February and January close behind those top two months.
"The momentum is building," Clayton said.
In June and July, Sirius will conduct a "soft launch" of product sales with retailers selling EchoStar's DISH Network as part of a deal announced earlier this year, Clayton said. A national kick-off with DISH Network retailers will take place during the second half of 2004, he said. Also, 6 million DISH Network subscribers will soon get Sirius' audio streams.
In addition, Sirius said select Wal-Mart locations will soon offer its satellite radio products.
As for subscriber specifics, Sirius said it added more than 24,000 subscribers through its automotive, boating and trucking relationships during the first quarter. More than 65,500 subscribers signing up for service during the three-month period came from the retail aftermarket channel, the company said.
For the first quarter, Sirius recognized total revenue of $9.3 million, compared to $1.6 million reported in first quarter 2003. The company reported a first quarter loss from operations of $119.5 million, compared to a loss from operations of $99.1 million for the same three-month period in 2003.
Sirius said it ended the first quarter with $707 million in cash, cash equivalents and marketable securities.
http://www.skyreport.com (Used with permission)