Sirius XM Swings to Fourth-Quarter Profit

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Sirius XM Radio on Thursday reported improved fourth-quarter financials and said it hit a record subscriber count of 21.9 million at the end of 2011.

The satellite radio firm posted quarterly earnings of $71.3 million, compared with a year-ago loss of $81.4 million.

Revenue rose 7 percent to $784 million as the company added 542,966 net subscribers in the fourth quarter, up from 328,789 in the year-ago period.

Sirius XM CEO Mel Karmazin lauded "another record-setting year in 2011." For 2012, he forecast growth in revenue, adjusted operating cash flow and subscribers. Net subscriber additions should hit 1.3 million this year, Sirius projected.


Email: Georg.Szalai@thr.com

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