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Thread: XM Canada's Q1 earnings report released today...

  1. #1
    Demian is offline
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    XM Canada's Q1 earnings report released today...

    Does this add any color to what SIRI's coming report may look like?

    What is SiriusXM's relationship with XM Canada and Sirius Canada? How much revenue do they get from them? They seem to be doing much better - and XM Canada even said so during their conference call....

    XM Canada's Q1 earnings report.....

    http://www.xmradio.ca/pdf/csr/2009/2...ss_Release.pdf

    Slides.....

    http://www.xmradio.ca/pdf/csr/2009/2009_Q1_Slides.pdf

    Investor Fact Sheet.....

    http://www.xmradio.ca/pdf/csr/2009/2...Fact_Sheet.pdf

    IR....

    http://www.xmradio.ca/about/investor-relations.cfm
    Last edited by Demian; 01-15-2009 at 01:17 PM.

  2. #2
    Demian is offline
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    http://www.google.com/hostednews/can...kgJZexGDDkvQ3g

    XM Canada broadcasting no intentions on possible merger with Sirius
    2 hours ago

    TORONTO The parent company of XM Satellite Radio Canada is giving no clear signal on its future, five months after XM Radio in the United States merged with rival Sirius Satellite Radio.
    "There could be something that brews with Sirius," John Bitove, chairman of Canadian Satellite Radio Holdings Inc. (TSX:XSR), told the annual meeting Thursday.
    "It'll be an interesting year what unfolds on that front, but what's important for us is that it's business as usual."
    It will be an interesting year on other fronts as well, CEO Michael Moskowitz told the meeting.
    "There's no doubt that growth is going to be a lot harder this year; however, our 2009 plans and forecasts have been developed and formulated based on a weak economy, and we still see good opportunities to pursue growth."
    On the likelihood of paralleling the U.S. combination by merging XM Canada with its competitor, Sirius Satellite Radio Canada, "We're still examining the merits of a potential transaction, and will proceed only if it makes sense to all of our stakeholders," Moskowitz said.
    Sirius XM Radio Inc., the U.S. company combined in August, owns 23 per cent of Canadian Satellite Radio, while Bitove controls 56 per cent. The rest trade only infrequently on the Toronto Stock Exchange.
    "We have been watching what's been going on in the U.S. post-merger, and the success that they've seen in terms of synergies," said Moskowitz, a former top executive of Palm Inc. who took over from Bitove as CEO of Canadian Satellite Radio a year ago.
    "Of course, how the U.S. experience would translate to Canada, only time will tell. One thing is for sure: a merger would accelerate our ability to achieve positive long-term cash flow and profitability."
    In the meantime, management's main focus is installation of XM radios in vehicles, and overall car sales "may dip a little bit this year," observed Bitove, who also chairs the Priszm fast-food-restaurant income fund.
    "But what's great for us is we have (installation relationships with) the four leading Asian manufacturers, who experienced seven per cent growth in new-vehicle sales in 2008," Bitove added. "And of course we have the big guy, General Motors."
    Meanwhile, "currently we have $65 million in liquidity," Bitove said.
    Chief financial officer Michael Washinushi added that after three consecutive quarters of positive cash flow "we are confident that we can operate this business without having to raise additional capital."
    XM Canada's subscriber count has grown 47 per cent in the past year to 514,500.
    Of these, 325,000 are self-paying - charged the $14.99 monthly fee, without car-company or other promotional discounts - and management expects to achieve an adjusted operating profit with 500,000 self-paying subscribers.
    Meanwhile, costs are being cut across all areas, Washinushi said.
    The annual meeting came after CSR reported a net loss of $31.5 million or 66 cents per share in its first quarter ended Nov. 30. Revenue was $12.5 million, up from $8.1 million a year earlier.
    The net loss included a $17.3-million currency hit, while CSR said it had positive cash flow of $500,000.
    The first quarter's adjusted operating loss, excluding non-recurring and non-cash items, was $3.3 million, an improvement from $10.5 million a year earlier.
    The average cost of acquiring each new subscriber was down 36 per cent to $59, thanks to a higher proportion of auto-factory additions and reduced spending on retail promotions and advertising.
    CSR ended the quarter with $18.1 million in cash and short-term investments, against $144.7 million in long-term debt.
    The company's publicly listed shares last traded at 77 cents.

  3. #3
    Demian is offline
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    http://www.fmqb.com/Article.asp?id=1107877

    In Brief - January 15, 2009

    XM Canada parent company Canadian Satellite Holdings saw its fiscal Q1 revenue grow by 53 percent to $12.5 million (in Canadian dollars), or approximately $9.9 million in U.S. dollars. Net loss shrunk by 31 percent to $6.3 million Canadian, or just under $5 million in U.S. dollars.

  4. #4
    john is offline
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    Thanks Demain, I am always interested in the Canadian side of things. I would like to see the SIRI part of it also but them being a private company it is harder to get that information. It has been a belief of mine that basically the Canadian side of things and SIRIXM are basically one in the same. That most of the profits that come from it will goto SIRIXM. I say that because they have to pay SIRIXM for most of the content/satellites they get. Basically SIRIXM can charge what ever they want.

  5. #5
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    http://www.satellitetoday.com/st/headlines/29647.html

    XM Canada Names Synnex Exclusive National Aftermarket Supplier
    January 19, 2009

    [Satellite Today 01-19-09] XM Canada named Synnex Canada the exclusive national supplier of aftermarket XM Satellite Radio products, XM Canada announced Jan. 15.
    Under the agreement, Synnex Canada will provide warehousing, distribution, logistics and related services for XM Canada, distributing radios manufactured by Audiovox and Pioneer and other aftermarket products.
    "By consolidating our distribution, we are leveraging Synnex's exceptional reputation and marketing and sales force expertise to grow our revenues," XM Canada spokeswoman Janet Gillespie said in a statement. "At the same time, XM Canada is reducing our supply chain costs and improving business process efficiencies as part of our overall corporate plan to strategically trim costs from our business."

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