Lot of good news coming from the meeting, the fog has cleared and we can see who is doing who
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Lot of good news coming from the meeting, the fog has cleared and we can see who is doing who
Overall, I'm satisfied with what I've been reading so far...
Huh? I don't understand.....Quote:
Originally Posted by stang3O2
I didnt understand that line either but i think it means their cost
DJ Sirius Xm Radio Sees Adjusted Ebitda Loss Of $200M In '08
. Ê DOW JONES NEWSWIRES Ê Sirius Xm Radio Inc. (SIRI) reported Thursday new adjusted 2008 Ebitda guidance for a $200 million loss, revised from a $300 million loss, according to a filing with the Securities and Exchange Commission. Ê The company also said it sees adjusted Ebitda of $300 million for 2009. Ê Sirius said it still estimates having 20.6 million subscribers at the end of 2009 and it reaffirmed its 2009 revenue guidance of $2.7 billion. Ê Shares of the satellite radio company traded Thursday morning at 14 cents.
Ê -Ingrid Pedrick Lehrfeld, Dow Jones Newswires; 202-862-1361
Ê (END) Dow Jones NewswiresÊ December 18, 2008 10:32 ET (15:32 GMT)Ê Copyright (c) 2008 Dow Jones & Company, Inc.- - 10 32 AM EST 12-18-08
Nope, it was their head count.Quote:
Originally Posted by stang3O2
This quote from the shareholder meeting's slide presentation...
"Total company headcount will be 22% lower by year-end 2008"
I see, that was pretty misleading line
Pivot Table for Today
R2 - R1 - Pivot - S1 - S2
0.16 0.15 0.14 0.13 0.12
http://uk.reuters.com/article/govern...37604820081218
Sirius holders weigh reverse split, stock issue
Thu Dec 18, 2008 2:40pm GMT
NEW YORK, Dec 18 (Reuters) - Sirius XM Radio (SIRI.O: Quote, Profile, Research) shareholders will vote on Thursday on proposals to issue up to 3.5 billion more shares and enact a reverse stock split, in an effort to pay down debt and shore up the satellite radio company's battered stock price.
Sirius XM shareholders, who have watched the shares crumble to 13 cents a share amid concerns about its subscriber growth potential and its ability to repay debt, will vote on whether to give the board the right to split its common shares by a ratio of between 1-for-10 to 1-for-50.
Sirius's shares have traded below $1 since Sept. 19, and is one of many large companies whose stock price has languished below $1 amid the recession. Nasdaq has temporarily set aside a rule that would have threatened Sirius with delisting for its low stock price.
At a meeting in New York, shareholders will decide whether to approve a plan to increase the number of authorized shares of common stock to 8 billion from 4.5 billion.
Sirius has about $1 billion in debt due to mature in 2009, with the first portion due in February, and may sell stock to pay the obligation if it's unable to refinance.
The reverse split plan, if ratified, would shrink the number of outstanding shares to a range of 65 million to 320 million shares from the current 3.2 billion shares.
Despite its near term debt concerns, and worries that the automobile industries woes will hurt Sirius's growth plans, Chief Executive Mel Karmazin earlier this month said the company sees double-digit revenue growth in the fourth quarter and is confident the company can refinance debt due in 2009.
Earlier this month he told the Reuters Media Summit: "The merger has made us control our costs (and) we are dealing with going to significant profitability in the years ahead," Karmazin said ear. "Is everything rosy? Of course not. But what's going on is not operationally problematic." (Reporting by Franklin Paul; Editing by Derek Caney)
Notice how they didn't say that they may pay off the first portion due in February with cash...Quote:
Originally Posted by Demian