Sirius satellite Radio has waited until the last possible moment to announce earnings for the first quarter 2008, and in stark contrast to what Mel Karmazin typically does, the earnings conference call will be held after the market closes at 4:30 PM. Karmazin is well known as the CEO who conducts calls at 8:00 AM prior to the market opening. The call will be on Monday, May 12, 2008.
While some would typically read into an after hours call as being negative, it is quite possible that the company is merely doing the call at this time just in case the FCC has an announcement regarding the merger prior to the call. It has been speculated by some that the company actually has two scripts prepared for the call. One if there is a merger announcement, and another if the deal is still in FCC limbo.
The call can be heard live on Sirius channel 119, or via webcast at Sirius' website
Analyst estimates range from a loss of 9 cents to a loss of 5 cents with the consensus being 7 cents.
Revenue estimates range from $259 million to $278 million with the average at $272 million
Position - Long Sirius, Long XM