XM Radio 2009 Annual Report Download - page 111
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Please find page 111 of the 2009 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.-
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accompanying footnotes for more details. For the three months ended December 31, 2009 and 2008, our adjusted
income (loss) from operations was $115,339 and $31,797, respectively. Adjusted income (loss) from operations was
favorably impacted by an increase of 6%, or $39,671, in revenues and a decrease of 7%, or $43,871, in total
expenses included in adjusted income (loss) from operations. The increase in revenue was due mainly to increased
rates on multi-subscription packages, revenues earned on internet packages, the introduction of the U.S. Music
Royalty Fee and the sale of “Best of” programming, partially offset by decreased equipment revenue. The decreases
in expenses were primarily driven by lower subscriber acquisition costs, lower customer service and billing
expense, savings in programming and content expenses, and lower legal and consulting costs in general and
administrative expenses.
For the three months ended December 31, 2008 and 2007, our adjusted income (loss) from operations was
$31,797 and ($224,143), respectively. Adjusted income (loss) from operations was favorably impacted by an
increase of 16%, or $86,593, in revenues and a decrease of 22%, or $169,347, in total expenses included in adjusted
income (loss) from operations.
2009 2008 2007
For the Years Ended December 31,
Unaudited
(Actual) (Pro Forma) (Pro Forma)
Beginning subscribers ........................... 19,003,856 17,348,622 13,653,107
Gross subscriber additions ........................ 6,208,482 7,710,306 8,077,674
Deactivated subscribers .......................... (6,439,580) (6,055,072) (4,382,159)
Net additions .................................. (231,098) 1,655,234 3,695,515
Ending subscribers .............................. 18,772,758 19,003,856 17,348,622
Retail...................................... 7,725,750 8,905,087 9,238,715
OEM...................................... 10,930,952 9,995,953 8,033,268
Rental ..................................... 116,056 102,816 76,639
Ending subscribers .............................. 18,772,758 19,003,856 17,348,622
Retail...................................... (1,179,452) (333,628) 784,135
OEM...................................... 935,114 1,962,685 2,863,895
Rental ..................................... 13,240 26,177 47,485
Net additions .................................. (231,098) 1,655,234 3,695,515
Self-pay .................................... 15,703,932 15,549,657 13,873,346
Paid promotional ............................. 3,068,826 3,454,199 3,475,276
Ending subscribers .............................. 18,772,758 19,003,856 17,348,622
Self-pay .................................... 154,275 1,676,311 2,382,480
Paid promotional ............................. (385,373) (21,077) 1,313,035
Net additions .................................. (231,098) 1,655,234 3,695,515
Daily weighted average number of subscribers ......... 18,529,696 18,373,274 15,342,041
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