DALLAS, May 18, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.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: www.microstockprofit.com/ads/SIRI
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:
"For the first quarter of 2010, SIRI recognized total revenue of $670.6 million compared to $605.5 million for the first quarter 2009. This 11%, or $65.1 million, increase in revenue was driven by the U.S. Music Royalty Fee introduced in the third quarter of 2009, the sale of 'Best of' programming, and rate increases to the Company's multi-subscription and Internet packages.
"SIRI issued revised guidance on its subscribers and certain financial metrics for 2010. The Company now expects net subscriber additions for the full-year to be approximately 750,000, pro forma revenue to be approximately $2.75 billion, and pro forma adjusted income from operations to be approximately $575 million. In addition, the Company expects free cash flow for 2010 to exceed $100 million."
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