XM Satellite Radio Holdings Inc. (XMSR) posted a narrower loss and an increase of 1.4 million subscribers to over 9 million subscribers for the 2007 year.
The company saw a 22% increase in revenue to $1.1 billion (with a “b”) for the full year, and for the fourth-quarter saw a total revenue of $308 million, a 20% increase over the $257 million from the same period the year prior.
XM ended the year with over 9 million subscribers (9,027,000 to be exact), which is an 18% increase of over 1.4 subscribers from the year prior (roughly 7.6 million subscribers in 2006).
In the fourth-quarter, XM subscriber base increased by 460,000 net subscribers, and 1,130,000 gross subscribers.
In 2007, XM’s automotive partners increased production of XM-equipped vehicles by 64% over 2006, with 3.5 million OEM installs and more than a million in the fourth quarter alone. This led to an increase of 766,000 gross OEM subscribers in the fourth quarter, resulting in 361,000 net OEM subscribers.
For the fourth-quarter, XM added 364,000 gross retail subscribers which resulted in an 99,000 net retail subscriber additions.
Net loss for the fourth quarter of 2007 narrowed by $18 million over
the prior year to ($239) million compared to a net loss for the fourth
quarter 2006 of ($257) million. Full year net loss improved by $37
million over the prior year to ($682) million compared to a full year
2006 net loss of ($719) million.
Full year 2007 adjusted operating loss of $238 million included merger and settlement charges of $86 million which were excluded from our guidance range of $170 million to $180 million loss. Fourth Quarter adjusted operating loss of $117 million included $58 million of the aforementioned $86 million of merger and settlement charges.
ARPU increased to $10.14 for 4Q07 (from $10.05 in 4Q06), and $10.39 for the full-year (from $10.09 in FY06). SAC increased to $87 for 4Q07 (from $74 in 4Q06), and $75 for FY07 (from $65 in FY06). CPGA increased to $140 for 4Q07 (from $128 in 4Q06) and $121 for FY07 (from $108 in FY06).
Full financials after the jump…
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