Today Sirius Satellite Radio released their fourth quarter and the full 2006 results and at a glance it seems like good news. The most notable piece of news was that the Q4 total revenue of $193.4 million was an increase of 142% of year over year while the 2006 total revenue was $637.2 million, up 163% from 2005. The other keys were that average revenue per subscriber was up $.67 while the average subscriber acquisition cost was down a whopping $25 in 2006.
In the end, the report was a little better than most analysts expected yet it has not been reflected in the stock price. Since shares rose 5 cents to $3.79 in premarket trading the stock has dropped 6 cents as the market as a whole is taking a beating today. Mel also said that the company expects revenue of nearly $1 billion, which would be a 57% increase from the 2006 total of $637.2 million for 2007. Sirius also foresees ending the year with more than 8 million subscribers.