Newsgroup: it.economia.borsa.estero
Titolo: SIRI

October 29, 2003 08:15
SIRIUS Announces Third Quarter 2003 Financial and Operating Results
* Subscribers totaled 149,612 at quarter end; an increase of 42% from total
subscribers at last quarter end * Revenue more than doubles from last
quarter as fixed costs remain stable
NEW YORK, Oct 29, 2003 /PRNewswire-FirstCall via COMTEX/ -- SIRIUS (Nasdaq:
SIRI), known for delivering the very best in commercial-free music and
premium audio entertainment to cars and homes across the country, today
announced third quarter 2003 financial and operating results.
(Logo: 
http://www.newscom.com/cgi-bin/prnh/19991118/NYTH125
 )
As of September 30, 2003, SIRIUS reported 149,612 subscribers. This
represents a net subscriber addition of 44,426 for the third quarter of
2003, a 42% increase from the company's total subscribers at the end of the
second quarter of 2003 and over twelve times the number of ending
subscribers reported for the third quarter of 2002.
"With three brands of transportable Plug-&-Play products now available and
more on the way, we believe SIRIUS is well positioned to take advantage of
the upcoming holiday selling season," said Joseph P. Clayton, President and
CEO of SIRIUS. "During a seasonally slow third quarter at retail, SIRIUS
showed strong signs of consumer acceptance this summer. Based on data from
NPD Group, our retail unit share increased by 48% over the previous quarter,
which reflects both better products, more brands, and increased consumer
awareness."
SIRIUS maintains a strong cash position, ending the quarter with $479
million in cash, cash equivalents, and marketable securities.
"With a solid cash position and very little debt, our balance sheet remains
the strongest in satellite radio. We have the working capital necessary to
continue to execute our business plan and grow our subscriber base," said
David Frear, Chief Financial Officer of SIRIUS.
During the third quarter, SIRIUS significantly enhanced its product
portfolio and premium programming offerings. In addition to completing the
rollout of transportable Plug-&-Play products from Kenwood and Audiovox,
SIRIUS also partnered with The Brix Group to introduce an attractive, rugged
portable unit for the trucking market, called the Streamer.
The company expects to further expand its product assortment this year with
a dedicated in-home receiver and a portable boombox.
Adding to its strong sports line-up, SIRIUS recently announced a marketing
and sponsorship agreement with the National Hockey League. SIRIUS will carry
up to 40 NHL games per week. In September, Ford and SIRIUS announced that
SIRIUS is now available as an option on 10 Ford vehicles. Ford,
Mercedes-Benz, DaimlerChrysler, BMW, Nissan, Infiniti, and Audi are all now
offering Sirius as a factory or dealer option on select 2004 models.
THIRD QUARTER 2003
For the third quarter of 2003, SIRIUS recognized total revenue of $4.3
million, compared to $17 thousand for the third quarter of 2002 and $2.1
million for the second quarter of 2003. SIRIUS reported a loss from
operations of $(103.5) million for the third quarter of 2003, compared to a
loss from operations of $(81.7) million for the third quarter of 2002.
SIRIUS reported a net loss applicable to common stockholders of $(106.7)
million, or $(0.11) per share, for the third quarter of 2003, compared with
a net loss applicable to common stockholders of $(119.7) million, or $(1.56)
per share, for the third quarter of 2002.
SIRIUS' adjusted EBITDA loss for the third quarter of 2003 was $(79.8)
million, compared with $(58.7) million for the third quarter of 2002.
SIRIUS' adjusted EBITDA loss for the third quarter of 2002 excludes $1.9
million of costs associated with the company's restructuring.
For the third quarter of 2003, average monthly revenue per subscriber, or
ARPU, was $11.20. Excluding the effects of mail-in rebate programs, ARPU for
the third quarter of 2003 was $10.31.
YEAR TO DATE 2003
For the year to date period ended September 30, 2003, SIRIUS recognized
total revenue of $7.9 million, compared to $120 thousand for the year to
date period ended September 30, 2002. SIRIUS reported a loss from operations
of $(312.4) million for the 2003 period, compared to a loss from operations
of $(222.3) million for the 2002 period.
SIRIUS reported a net loss applicable to common stockholders of $(166.6)
million, or $(0.22) per share, for the 2003 period, compared with a net loss
applicable to common stockholders of $(334.4) million, or $(4.41) per share,
for the 2002 period. Included in net loss applicable to common stockholders
for the 2003 period was a $256.5 million gain in connection with the
completion of the company's restructuring in March 2003, and a deemed
dividend of $79.5 million associated with the elimination of its convertible
preferred stock in March 2003.
SIRIUS' adjusted EBITDA loss for the 2003 period was $(241.2) million,
compared with $(162.7) million for the 2002 period. SIRIUS' adjusted EBITDA
loss for the 2003 period excludes a $256.5 million gain in connection with
the completion of the company's restructuring in March 2003, and includes a
$14.5 million non-cash charge associated with the disposal of SIRIUS'
previous subscriber management system. SIRIUS' adjusted EBITDA loss for the
2002 period excludes $1.9 million of costs associated with the company's
restructuring.
For the 2003 period, ARPU was $10.01. Excluding the effects of mail-in
rebate programs, ARPU for the 2003 period was $10.56.
    (Selected Balance Sheet Data and Statement of Operations follow).
SIRIUS defines adjusted EBITDA loss as net loss before interest and
investment income, interest expense, net of amounts capitalized,
depreciation expense and debt restructuring. This definition of adjusted
EBITDA may not be comparable to similarly titled measures of other
companies. Adjusted EBITDA is not a measure of financial performance under
accounting principles generally accepted in the United States. We have
raised and invested large amounts of capital to fund the completion of our
system; as a result, our results of operations include significant charges
for depreciation. In addition, we have recognized a gain associated with the
restructuring of our debt. Adjusted EBITDA, which excludes these items,
provides a basis to measure our operating performance, apart from the
expenses associated with our physical plant or capital structure. Adjusted
EBITDA should not be considered in isolation or as a substitute for
operating loss, cash flow from operating activities or other measures of
performance defined by accounting principles generally accepted in the
United States. A reconciliation of adjusted EBITDA loss is presented on the
attachment.
SIRIUS defines average monthly revenue per subscriber, or ARPU, as the total
earned subscription revenue and activation revenue during the period, over
the daily weighted average number of subscribers for the period. ARPU is not
a measure of financial performance under accounting principles generally
accepted in the United States and should not be considered in isolation or
as a substitute for measures of performance prepared in accordance with
accounting principles generally accepted in the United States.
SIRIUS defines subscriber acquisition costs, or SAC, as costs of incentives
for the purchase, installation, and activation of Sirius radios, as well as
subsidies paid to radio manufacturers, automakers and retailers, and
payments to Agere. SAC is not a measure of financial performance under
accounting principles generally accepted in the United States and should not
be considered in isolation or as a substitute for measures of performance
prepared in accordance with accounting principles generally accepted in the
United States.
    Sirius Satellite Radio Inc.
    Financial Highlights
    (In thousands, except per
    share and subscriber data)
    (Unaudited)
                                 For the Three Months    For the Nine Months
                                         Ended                  Ended
                                     September 30,          September 30,
                                     2003        2002       2003       2002
    Statement of Operations:
    Subscriber revenue, including
     effects of mail-in rebates     $4,197       $(51)     $7,780         $3
    Advertising revenue, net of
     agency fees                        39         62          83        111
    Other revenue                       22          6          59          6
     Total revenue                   4,258         17       7,922        120
    Operating expenses:
     Cost of services:
      Satellite and transmission     7,986      8,140      23,541     25,347
      Programming and content        7,498      4,199      21,711     12,107
      Customer service and billing   2,236      1,855      20,758      5,579
     Sales and marketing            27,152     27,953      90,870     64,223
     Subscriber acquisition
      costs                         25,887      5,361      47,025     15,651
     General and administrative      7,156      8,121      28,714     24,249
     Research and development        3,884      2,561      13,771     23,699
     Depreciation expense           23,666     23,011      71,229     59,591
     Non-cash stock compensation
      expense (benefit)              2,280        538       2,716
(7,995)
       Total operating expenses    107,745     81,739     320,335    222,451
    Loss from operations          (103,487)   (81,722)   (312,413)
(222,331)
    Other income (expense):
     Debt restructuring               --     (1,905)    256,538     (1,905)
     Interest and investment
      income                         1,341      1,013       4,011      4,530
     Interest expense, net of
      amount capitalized            (4,543)   (25,603)    (26,573)
(80,689)
    Total other income (expense)    (3,202)   (26,495)    233,976
(78,064)
    Net loss                      (106,689)  (108,217)    (78,437)
(300,395)
    Preferred stock dividends            -    (11,287)     (8,574)
(33,494)
    Preferred stock deemed               -
     dividends                                   (171)    (79,634)
(513)
    Net loss applicable to common
     stockholders                $(106,689) $(119,675)  $(166,645)
$(334,402)
    Net loss per share applicable
     to common stockholders
      (basic and diluted)           $(0.11)    $(1.56)     $(0.22)
$(4.41)
    Weighted average common
     shares outstanding
      (basic and diluted)           998,156    76,852     755,009     75,820
                                  For the Three Months    For the Nine
Months
                                         Ended                  Ended
                                     September 30,          September 30,
                                      2003       2002        2003       2002
    Net loss as reported          $(106,689) $(108,217)   $(78,437)
(300,395)
    Add back non-EBITDA items
     included in net loss:
       Depreciation expense          23,666     23,011      71,229
59,591
       Interest and investment
        income                       (1,341)    (1,013)     (4,011)
(4,530)
       Interest expense, net
        of amount capitalized         4,543     25,603      26,573
80,689
       Debt restructuring                --      1,905    (256,538)
1,905
    Adjusted EBITDA loss           $(79,821)  $(58,711)  $(241,184)
$(162,740)
                                                 September 30,    December
31,
                                                      2003            2002
    Selected Balance Sheet Data:
    Cash, cash equivalents and marketable
     securities                                     $479,111        $173,702
    Restricted investments                             9,007           7,200
    Working capital                                  439,267         151,289
    Total assets                                   1,568,301       1,340,940
    Long-term debt                                   259,686         670,357
    Accrued interest, net of current portion              --          46,914
    Total liabilities                                336,705         772,941
    Convertible preferred stock                           --         531,153
    Accumulated deficit                           (1,005,916)
(927,479)
    Stockholders' equity                           1,231,596          36,846
    Other Data:
     Subscribers (end of period)                     149,612          29,947
    Sirius Satellite Radio Inc.
    Quarterly Data:
    (Unaudited)
                                                Q3 2003   Q2 2003    Q1 2003
    Subscribers:
    Beginning subscribers                       105,186    68,059     29,947
    Net additions                                44,426    37,127     38,112
    Ending subscribers                          149,612   105,186     68,059
     Retail                                     110,821    77,713     51,969
     OEM and Special Markets                     15,358     7,630      4,252
     Hertz                                       23,433    19,843     11,838
                                                Q3 2003
    Monthly ARPU:
    Average revenue per subscriber               $12.09
     Effect of Hertz subscribers                 $(1.78)
     ARPU before effects of rebates              $10.31
     Effect of hardware rebates                   $0.89
     Reported ARPU                               $11.20
     Average revenue per Hertz subscriber         $2.12
    SAC:
     Total SAC per gross add                       $522
About SIRIUS
SIRIUS is the only satellite radio service bringing listeners more than 100
streams of the best music and entertainment coast-to-coast. SIRIUS offers 60
music streams with no commercials, along with over 40 world-class sports,
news and entertainment streams for a monthly subscription fee of only
$12.95, with greater savings for upfront payments of multiple months or a
year or more. Stream Jockeys create and deliver uncompromised music in
virtually every genre to our listeners 24 hours a day. Satellite radio
products bringing SIRIUS to listeners in the car, truck, home, RV and boat
are manufactured by Kenwood, Panasonic, Clarion and Audiovox, and are
available at major retailers including Circuit City, Best Buy, Car Toys,
Good Guys, Tweeter, Ultimate Electronics, Sears and Crutchfield. SIRIUS is
the leading OEM satellite radio provider, with exclusive partnerships with
DaimlerChrysler, Ford and BMW. Automotive brands currently offering SIRIUS
radios in select new car models include BMW, MINI, Chrysler, Dodge, Jeep(R),
Nissan, Infiniti, Mazda, Audi, Ford and Lincoln-Mercury. Automotive brands
that have announced plans to offer SIRIUS in select models include
Mercedes-Benz, Jaguar, Volvo, Volkswagen, Land Rover and Aston Martin.
Genmar Holdings, the world's largest manufacturer of recreational boats,
Formula Boats and Winnebago, the leading supplier of recreational vehicles
and motor homes, have also announced plans to offer SIRIUS.
Click on 
www.SIRIUS.com
 to listen to SIRIUS live, or to find a SIRIUS
retailer or car dealer in your area.
Any statements that express, or involve discussions as to, expectations,
beliefs, plans, objectives, assumptions, future events or performance with
respect to SIRIUS Satellite Radio Inc. are not historical facts and may be
forward-looking and, accordingly, such statements involve estimates,
assumptions and uncertainties which could cause actual results to differ
materially from those expressed in any forward-looking statements.
Accordingly, any such statements are qualified in their entirety by
reference to the factors discussed in our Annual Report on Form 10-K for the
year ended December 31, 2002 filed with the Securities and Exchange
Commission. Among the key factors that have a direct bearing on our results
of operations are: our dependence upon third parties to manufacture,
distribute, market and sell SIRIUS radios and components for those radios;
the unproven market for our service; our competitive position and any events
which affect the useful life of our satellites.
SOURCE SIRIUS
Jim Collins, Media Relations, 
+1-212-901-6422
,
jcol...@siriusradio.com
, or Cheryl Cramer, Investor Relations,
+1-212-901-6466
, 
ccr...@siriusradio.com
, both of SIRIUS; or Thomas Meyer,
Media Relations of PR21, 
+1-310-566-2285
, 
Thomas...@pr21.com
, for SIRIUS
/Photo:  
http://www.newscom.com/cgi-bin/prnh/19991118/NYTH125
http://www.sirius.com
Copyright (C) 2003 PR Newswire. All rights reserved.

 SIRIUS Announces Third Quarter 2003 Financial and Operating Results
Come sono? IN inglese sono una schiappa!
GRazie

 per scalper senza cuore

Suonata la campanella:)
superati 1.35 ...da seguire adesso

 ha scritto nel messaggio
news:bnp50i$i6r$1...@news.ngi.it...


ho la netta sensazione che SIRI..
grafici alla mano..
e vistosi sono gli oscillatori..
abbia 'nelle gambe'..i 3 $..e se non ci arriva
2.80 tutti...
a differenza di lnux...che graficamente..
mi sempre graficamente peggio..
ma che cercherò di accumulare ancora a 4,8 $...
come la vedete..?

precisa come un 'orologio...in pre-market..
e se lo 'zio' ci assiste...
future confermerebbero...per ora...
oggi non è male...
uhmmm...
sperem...
tento..ma non ci riuscirò..
incremento a 2,35..
sopra mi fà paura...

altre 3.000
a 2,380..
tutto molto..
intraday..
credo debba scaricarsi..
ma poi ripartire..
alla grande..
sperem..
qualcuno è dentro..?
commenti?

Per intraday, su eventuale rimbalzi da supporto importante sui 2.20, in caso
di peggioramento del nasdaq non dovrebbe tardare, pericolosa sotto i 2.18,
che ne dite? 1.90/2.00 il prossimo target?