DALLAS, March 24, 2010 (GLOBE NEWSWIRE) -- StockPreacher.com announces an investment report featuring Sirius XM Radio Inc. (Nasdaq:SIRI). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at: http://www.stockpreacher.com/n/SIRI
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Sirius XM Radio Inc. (SIRI) has two principal wholly owned subsidiaries, XM Satellite Radio Holdings Inc. and Satellite CD Radio Inc. The Company is engaged in broadcasting in the United States, its music, sports, news, talk, entertainment, traffic and weather channels for a subscription fee through its satellite radio systems, the SIRIUS system and the XM system. On July 28, 2008, its wholly owned subsidiary, Vernon Merger Corp., merged (the Merger) with and into XM Satellite Radio Holdings Inc. and, as a result, XM Satellite Radio Holdings Inc. became its wholly owned subsidiary.
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In the report, the analyst notes:
"SIRI recently announced full year 2009 results, including pro forma 2009 revenue of $2.53 billion, up 4% over 2008 pro forma revenue of $2.44 billion, and pro forma adjusted income from operations of $463 million, versus ($136) million in 2008.
"SIRI recently announced that it has closed the sale of $800 million of its 8.75% Senior Notes due 2015. The Notes were priced without a new issuance discount. Consequently, the Notes were issued to investors at 100% of their principal amount. SIRI will use the net proceeds from the offering to redeem on April 16, 2010, all of its outstanding $500 million principal amount of 9.625% Senior Notes due 2013, CUSIP No. 82966UAK9, at a redemption price of 104.813% plus accrued interest."
To read the entire report visit: http://www.stockpreacher.com/n/SIRI
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