XM Radio 2009 Annual Report Download - page 107

Special Note Regarding Forward-Looking Statements
The following cautionary statements identify important factors that could cause our actual results to differ
materially from those projected in forward-looking statements made in this Proxy Statement and Annual Report and
in other reports and documents published by us from time to time. Any statements about our beliefs, plans,
objectives, expectations, assumptions, future events or performance are not historical facts and may be forward-
looking. These statements are often, but not always, made through the use of words or phrases such as “will likely
result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “intend,” “plan,” “projection” and
“outlook.” Any forward-looking statements are qualified in their entirety by reference to the factors discussed
throughout reports and documents published by us from time to time.
Among the significant factors that could cause our actual results to differ materially from those expressed in
the forward-looking statements are:
•general economic conditions, which has adversely affected our business;
•our dependence upon automakers, many of which have experienced a dramatic drop in sales, and other third
parties, such as manufacturers and distributors of satellite radios, retailers and programming providers;
•the substantial indebtedness of SIRIUS and XM;
•the useful life of our satellites, which have experienced component failures including, with respect to a
number of satellites, failures on their solar arrays, and, in certain cases, are not insured; and
•the competitive position of SIRIUS and XM versus other forms of audio and video entertainment including
terrestrial radio, HD radio, Internet radio, mobile phones, iPods and other MP3 devices, and emerging next-
generation networks and technologies.
Because the risk factors referred to above could cause actual results or outcomes to differ materially from those
expressed in any forward-looking statements made by us or on our behalf, you should not place undue reliance on
any of these forward-looking statements. In addition, any forward-looking statement speaks only as of the date on
which it is made, and we undertake no obligation to update any forward-looking statement or statements to reflect
events or circumstances after the date on which the statement is made, to reflect the occurrence of unanticipated
events or otherwise. New factors emerge from time to time, and it is not possible for us to predict which will arise or
to assess with any precision the impact of each factor on our business or the extent to which any factor, or
combination of factors, may cause actual results to differ materially from those contained in any forward-looking
statements.