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58 XM SATELLiTE RADiO 2 0 0 1 Annual Report
(16) Quarterly Data (Unaudited)
1999
1st 2 nd 3rd4 th
Quarter Quarter Quarter Quarter
Revenues ................................................................ $ — $ —$— $ —
Operating loss .......................................................... 4,4 21 4,020 9,374 12,876
Loss before income taxes ........................................ 4,367 3,999 17,402 11,128
Net loss attributable to common stockholders ............ 4,367 3,999 17,402 11,128
Net loss per share—basic and diluted .................... $ (0.65) $ (0.60) $ (2.60 ) $ (0.27 )
2000
1st 2 nd 3rd4 th
Quarter Quarter Quarter Quarter
Revenues ................................................................. $ — $ — $ —$—
Operating loss ......................................................... 16,888 13,937 28,109 20,544
Loss before income taxes ......................................... 12,740 5,088 20,060 13,985
Net loss attributable to common stockholders ........... 14 ,212 7,259 160,095 1 9,773
Net loss per share—basic and diluted ................... $ (0.30) $ (0.15) $ (3.26) $ (0.4 0)
2001
1st 2 nd 3rd4 th
Quarter Quarter Quarter Quarter
Revenues ................................................................. $ — $ — $ 1 $ 532
Operating loss ......................................................... 42,124 42,094 62,114 135,274
Loss before income taxes ......................................... 36,948 38,478 64,982 143,971
Net loss attributable to common stockholders ........... 42 ,736 44,267 70,770 149,759
Net loss per share—basic and diluted ................... $ (0.80) $ (0.76) $ (1.14) $ (2.26)
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.
During the fourth quarter of 2001, the Company completed the nationwide launch of its service. The Company
also completed a public offering of 11,500,000 million shares of its Class A common stock (see note 10(e)),
realizing net proceeds of $126,500,000. In addition, the Company also closed on a $6 6,000,000 financing
package with The Boeing Company (see notes 8(d) and 15(d)), including $35,000,000 in new debt financing.
Further, the Company incurred a charge of $2 6,300,000 to system operations for terrestrial repeater sites no
longer required (see note 15(h)).
AMERiCA’S FiRST SATELLiTE RADiO SERViCE
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