soulxtc
July 27th, 2006, 08:40 AM
XM Satellite Radio Holdings Inc. reported a wider loss for its second quarter Thursday as it absorbed charges for restructuring its debt. The company again lowered its estimates for full-year subscriber counts.
XM, which is based in Washington, D.C., lost $231.7 million or 87 cents per share in the three months ending June 30, versus a loss of $148.8 million or 70 cents per share in the comparable period a year ago.
Revenue nearly doubled to $227.9 million from $125.4 million a year ago.
The company said it now expects to end the year with a customer base between 7.7 million and 8.2 million, and that it would refine that range at the end of the third quarter. The company cited "current marketplace dynamics" and regulatory uncertainty regarding certain of its radio models for the change.
The news is sure to disappoint investors, who punished XM's stock in May when it lowered its previous forecast for year-end subscribers to 8.5 million from 9 million, blaming problems with product availability and soft retail sales.
In pre-market trading, XM's shares fell 50 cents or 4.8 percent to $9.86.
http://www.breitbart.com/news/2006/07/27/D8J4BG600.html
XM, which is based in Washington, D.C., lost $231.7 million or 87 cents per share in the three months ending June 30, versus a loss of $148.8 million or 70 cents per share in the comparable period a year ago.
Revenue nearly doubled to $227.9 million from $125.4 million a year ago.
The company said it now expects to end the year with a customer base between 7.7 million and 8.2 million, and that it would refine that range at the end of the third quarter. The company cited "current marketplace dynamics" and regulatory uncertainty regarding certain of its radio models for the change.
The news is sure to disappoint investors, who punished XM's stock in May when it lowered its previous forecast for year-end subscribers to 8.5 million from 9 million, blaming problems with product availability and soft retail sales.
In pre-market trading, XM's shares fell 50 cents or 4.8 percent to $9.86.
http://www.breitbart.com/news/2006/07/27/D8J4BG600.html