Unfortunately, that nerd on the video blog might have been right about the move being baked in the price. I can't believe we are falling back to par level. Does not make sense to me.
Big Ben
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Unfortunately, that nerd on the video blog might have been right about the move being baked in the price. I can't believe we are falling back to par level. Does not make sense to me.
Big Ben
It's SIRI; what do you expect? This company is absolutely HATED by many (NAB for sure). The hatred is constant and never ending.Quote:
Originally Posted by Big Ben
-0.02 EPS was baked in, right? Not +0.00? One would think a small pop would be appropriate, but there are so many advesarial forces to contend with.
It's only 9:15. We'll see what the day brings.
I promise this is the last time I will mention FAZ, FXP. Has anyone pick up these shares? They are up very nice on a % basis. These stocks are poised to move up on any major pull backs. People we are in BUBBLE! Rick Santelli is the only person who gives it to you straight, I hope he runs for President. People are preserving capital. Look around, there are so many problems, past and present and future....things are bad....except for pool pumps and candles...if your into kinky shit like that then buy more candles. I am up about a g on this mornings market. Every time FAZ pulls back to 17.50 and FXP gets near 9...back the fin truck up....these stocks are near the bottom of their range...like two todays ago when I said buy, buy, buy.
As for siri, what can we expect now? 1.25 or so, that is nice on % basis, but understand this stock has many obstacles real and imagined...it is truly hated. I know the salmon do make it back upstream but it is difficult and quite a journey. Take some profits, move new cash into FAZ and FXP and when the sky starts to fall your a winner! These kinds of moves are very possible for novice investors and it was not always like this. Being long stocks and mutual funds is just silly. I don't sit around and hope we lose more jobs but be realistic, how many Pollocks does it take to make a fin pool pump or a candle? Two, one to melt the candle one to pour it into the mold, and oh yeah, one to blow on it until it cools. I mean come on!
The only catalyst I see for siri in the future is the expiration of the reverse split authority and Howard signing a new deal. Anything else anyone can foresee?
Big Ben
Hold on Jeff . . stay right here, I'll go get her . . . . . oh Juuuuuuulie!Quote:
Originally Posted by mrmertz
Thursday, February 25, 2010
SIRIUS XM Radio Reports Full Year and Fourth Quarter 2009 Results
NEW YORK, Feb 25, 2010 /PRNewswire via COMTEX/ ---- SIRIUS XM Radio (Nasdaq: SIRI) today 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.
(Logo: http://www.newscom.com/cgi-bin/prnh/...19/NYTU044LOGO )
"2009 was a notable year of firsts for SIRIUS XM: The first full year of positive pro forma adjusted income from operations and the first full year of positive free cash flow in the company's history," said Mel Karmazin, the Chief Executive Officer of SIRIUS XM. "We demonstrated considerable operating momentum in the fourth quarter - the addition of over 250,000 subscribers, ARPU growth, revenue growth, improved SAC, and continued operating cost reductions. These gains position us to deliver on our 2010 guidance."
In the fourth quarter 2009, the Company's pro forma average revenue per subscriber (ARPU) grew to $10.92 from $10.65 in the fourth quarter of 2008. The average self-pay monthly customer churn rate was 2.0% in the fourth quarter of 2009, as compared with 1.8% in the fourth quarter of 2008.
Fourth quarter of 2009 pro forma revenue was $684 million, up 6% from fourth quarter 2008 pro forma revenue of $644 million. Subscriber acquisition costs (SAC) per gross subscriber addition was $64 in the fourth quarter of 2009, an improvement of 9% over the $70 in SAC per gross subscriber addition in the fourth quarter of 2008.
In the fourth quarter of 2009, SIRIUS XM achieved pro forma adjusted income from operations of $115 million as compared with $32 million in the fourth quarter of 2008. Free cash flow in the quarter of 2009 was $150 million compared to $26 million in the fourth quarter of 2008. The pro forma fourth quarter 2009 net loss was ($25) million as compared with ($248) million in the fourth quarter of 2008. On a GAAP basis, the fourth quarter 2009 net income was $14 million compared to a loss of ($246) million in the 2008 quarter.
"The $599 million improvement in full-year pro forma adjusted income from operations illustrates the strength of our business model and also demonstrates the economic benefit generated by the SIRIUS-XM merger in July 2008," said David Frear, the Company's Executive Vice President and Chief Financial Officer. "With over $380 million in cash, positive free cash flow and continued growth in adjusted income from operations, our financial condition has never been stronger," Frear added.
2010 OUTLOOK
Looking to 2010, the company expects full-year revenue of over $2.7 billion. Free cash flow is expected to remain positive in 2010.
"We expect to add over 500,000 net subscribers this year, exceeding the company's previous subscriber high of 19 million at the end of 2008. We also expect this year's adjusted income from operations to be up approximately 20% to $550 million," said Karmazin.
In the above post I have highlighted the "over $380mm" in BOLD! I have done this because I know someone here will raise this question now or 6 months from now and I don't want to have to guess or comb through filings . . . if you are a regular here, please commit the # to memory now!!
I was looking at taking up some SPXU, but I'm low on cash. TCK f'd me. I tried to dump some shares the other day, but my limit came up short.
I've made good money on SPXU. There's nothing wrong picking up a short ETF.
Yes, look for continued credit upgrades at S&P in the near term and possible permanent retirement of some debt with cash over the longer term . . . all depends on your investment horizon as to whether or not this means anything to you individually.Quote:
Originally Posted by Big Ben
Stern is only a "positive" catalyst if street perceives terms as favorable to Siri bottom line . . . and some of the R/S issue is slowly getting baked-in already I would think.
So that means SIRI currently has $380 MM in cash right now?Quote:
Originally Posted by Sirius Roadkill
that's how I'm taking it SL . . . it was kind a of "throw-away" line by FrearQuote:
Originally Posted by SiriuslyLong
p.s. plus whatever cash has been dumped into the coffers since January 1 as that would not have been included in the report
Sirius XM Radio Inc. Issues FY 2010 Revenue Outlook In-Line With Analysts' Estimates; Reiterates FY 2010 EBITDA Outlook
Sirius XM Radio Inc. announced that for fiscal 2010, it expects revenue of over $2.7 billion and adjusted income from operations to be up approximately 20% to $550 million. According to Reuters Estimates, analysts on an average are expecting the Company to report revenue of $2.8 million and EBITDA of $546 million for fiscal 2010
One thing I am not crazy about in the guidance is that they are only projecting top-line revenue growth of 6.72% for 2010; they had previously guided to "high single digit growth" . . . . which one would think means 8% or 9%
2X next year's growth is only 13.44 multiple . . . which puts the current SP about where it should be
We're gonna need OEM to get back to 12/13mm units and see significant CPO inflows . . . and maybe ad revenue starts to come back later this year . . .
and of course the big wildcard . . . can we somehow monetize the 40+mm deactivated receivers sitting idle . . . Mel has said in the past that from time-to-time they will "light-up" deactivated receivers . . . let us hope that is part of a broader plan to grow revenue . . .
We'll find out soon enough. The 10k will be filed in a couple weeks. That's big. Good find.Quote:
Originally Posted by Sirius Roadkill
That my friend is a good question. I cancelled one sub when my Stilletto wet the bed. Just got an offer for something like 6 months free. They're trying!! Shoot, I cancelled 9 months ago.Quote:
Originally Posted by Sirius Roadkill
The next ad should target that. People smiling and laughing on the road. Driving down the Pacific Coast Hwy.... Through the Colorado mountains. Cross country drive with no interuption............... Those of us who listen to Howard know when another driver is listening to Howard. It's priceless.
Yes, Ben. I did pick up some FAZ last week.Quote:
Originally Posted by Big Ben
Hope you are feeling better.
Quote:
Originally Posted by mrmertz
Hi Jeff,
Glad to seen your back! SRK said you asked about me, I'm at work keeping
the bank afloat. :D I agree about the roller coaster, hopefully we're on
a less rocky ride now and you can give your ulcers a rest. ;)
Please stick around Jeff, we missed you. :)
Julie
S&P raised the target price to 1.50 today. It was 1.00
Maybe so, but this guy says 28 cents.Quote:
Originally Posted by candleman
http://online.wsj.com/article/SB1000...eard_LeadStory
I'm sorry folks, the link only gets you 10% of the article. I pulled of google finance. Try this.http://www.google.com/finance?client=ig&q=SIRI
just finished skimming the 10-K'sQuote:
Originally Posted by SiriuslyLong
here's the COH summary for the combined company:
Cash and cash equivalents $ 383,489
so there it is SL . . . squares with Frear's quote of more than $380mm