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SIRIUS XM RADIO INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
(17) Quarterly Financial Data — Unaudited
Our quarterly results of operations are summarized below:
For the Three Months Ended
March 31 June 30 September 30 December 31
2012
Total revenue ...................... $804,722 $ 837,543 $ 867,360 $ 892,415
Cost of services .................... $(292,309) $ (293,975) $(314,204) $(328,882)
Income from operations .............. $199,238 $ 227,942 $ 231,749 $ 213,096
Net income ........................ $107,774 $3,134,170 $ 74,514 $ 156,244
Net income per common share —
basic (1) (2) ..................... $ 0.02 $ 0.49 $ 0.01 $ 0.02
Net income per common share —
diluted (1) ....................... $ 0.02 $ 0.48 $ 0.01 $ 0.02
2011
Total revenue ...................... $723,839 $ 744,397 $ 762,550 $ 783,738
Cost of services .................... $(270,689) $ (273,331) $(277,360) $(299,719)
Income from operations .............. $164,172 $ 172,982 $ 184,488 $ 154,475
Net income ........................ $ 78,121 $ 173,319 $ 104,185 $ 71,336
Net income per common share —
basic (1) (2) ..................... $ 0.01 $ 0.03 $ 0.02 $ 0.01
Net income per common share —
diluted (1) ....................... $ 0.01 $ 0.03 $ 0.02 $ 0.01
(1) The sum of quarterly net income per share applicable to common stockholders (basic and diluted) does not necessarily
agree to the net income per share for the year due to the timing of our common stock issuances.
(2) We identified and corrected an immaterial error affecting the historical presentation of basic earnings per share. The
adjustment reflects the Series B Preferred Stock held by Liberty Media as participating securities as the holders of such
preferred stock may participate in dividends and distributions ratably with holders of our common stock on an as-
converted basis as disclosed in Footnote 3. The effects of the error were not material to any previously reported quarterly
or annual period. The corrected net income per common share — basic calculations are presented in the quarterly results
of operations table. The previously reported net income per common share — basic for the three months ended
March 31, 2012 and June 30, 2012 were $0.03 and $0.83, respectively. The previously reported net income per common
share — basic for the six months ended June 30, 2012 was $0.86 and the adjusted net income per common share — basic
was $0.51. The previously reported net income per common share — basic for the three month ended March 31,
2011, June 30, 2011, and December 31, 2011 were $0.02, $0.05 and $0.02, respectively. The previously reported net
income per common share — basic for the six months ended June 30, 2011 was $0.07 and the adjusted net income per
common share — basic was $0.04.
(18) Subsequent Events
On January 3, 2013, the Federal Communications Commission granted Liberty Media approval to acquire
de jure control of us. On January 17, 2013, Liberty Media filed a Form 4 with the Securities and Exchange
Commission indicating that on January 15, 2013 it, indirectly through its subsidiaries, purchased an additional
50,000,000 shares of our common stock. On January 18, 2013, Liberty Radio, LLC, a wholly-owned subsidiary
of Liberty Media and the holder of all of the outstanding shares of our Series B Preferred Stock, converted all of
its Series B Preferred Stock into 1,293,509,076 shares of our common stock. As a result of this recent purchase
F-39