This excerpt taken from the SIRI 8-K filed May 2, 2006.
(Selected financial information follows).
This press release, including the selected financial information to follow, includes the following financial measures defined as non-GAAP financial measures by the Securities and Exchange Commission: average monthly churn; subscriber acquisition costs, or SAC, per gross subscriber addition; customer service and billing expenses per average subscriber; average monthly revenue per subscriber, or ARPU; adjusted loss from operations; adjusted net loss; adjusted net loss per share; and free cash flow. SIRIUS believes these non-GAAP financial measures provide meaningful supplemental information regarding operating performance and liquidity and are used for internal management purposes, when publicly providing the business outlook, and as a means to evaluate period-to-period comparisons. These non-GAAP financial measures are used in addition to and in conjunction with results presented in accordance with GAAP. These non-GAAP financial measures may be susceptible to varying calculations; may not be comparable to other similarly titled measures of other companies; and should not be considered in isolation or as a substitute for measures of financial performance prepared in accordance with GAAP.