XM Radio 1999 Annual Report Download - page 51

Download and view the complete annual report

Please find page 51 of the 1999 XM Radio annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 56

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56

49 1999 ANNUAL REPORT
to purchase 8.024815 shares of the Company’s Class A common stock at a price of $49.50 per share. The
Company realized net proceeds of $191.0 million, excluding $123.0 million used to acquire securities which will
be used to pay interest payments due under the notes for the first three years.
(15) Quarterly Data (Unaudited)
1997
1st 2nd 3rd 4th
............................................................................ Quarter Quarter Quarter Quarter
(in thousands, except for per share data)
Revenues ................................................................... $ — $ — $ — $ —
Operating loss............................................................ — 51 185 874
Loss before income taxes........................................... — 270 459 930
Net loss..................................................................... — 270 459 930
Net loss per share—basis and diluted ................... $ — $ (0.04) $ (0.07) $ (0.14)
1998
1st 2nd 3rd 4th
Quarter Quarter Quarter Quarter
Revenues ................................................................... $ — $ — $ — $ —
Operating loss............................................................ 3,100 5,032 3,865 4,196
Loss before income taxes........................................... 3,100 5,032 3,857 4,178
Net loss..................................................................... 3,100 5,032 3,857 4,178
Net loss per share—basis and diluted ................... $ (0.46) $ (0.75) $ (0.58) $ (0.62)
1999
1st 2nd 3rd 4th
Quarter Quarter Quarter Quarter
Revenues ................................................................... $ — $ — $ — $ —
Operating loss............................................................ 4,421 4,020 9,374 12,876
Loss before income taxes........................................... 4,367 3,999 17,402 11,128
Net loss..................................................................... 4,367 3,999 17,402 11,128
Net loss per share—basis and diluted ................... $ (0.65) $ (0.60) $ (2.60) $ (0.27)
The sum of quarterly per share net losses do not necessarily agree to the net loss per share for the year due to
the timing of stock issuances.