XM Radio 2008 Annual Report Download - page 1
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2008 ANNUAL REPORT
AND PROXY STATEMENT
TABLE OF CONTENTS
Annual Report
Letter to Stockholders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Management’s Discussion and Analysis of Financial
Condition and Results of Operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Market for Registrant’s Common Equity, Related
Stockholder Matters and Issuer Purchases of
Equity Securities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46
Comparison of Cumulative Total Returns . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47
Selected Financial Data. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48
Quantitative and Qualitative Disclosure About Market
Risks . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 48
Reports of Independent Registered Public Accounting
Firm ................................................... F-1
Consolidated Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F-4
Notes to Consolidated Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . F-9
Notice of Annual Meeting of Stockholders
and Proxy Statement