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XM Just Misses '06 Target at 7.6 Million Subscribers; Claims Positive Cash Flow in Q4
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XM Satellite Radio said it added more than 1.6 million subscribers in 2006, and based on early figures, it appears the satcaster achieved a positive cash flow in the fourth quarter, as did Sirius.
XM ended the year with more than 7.6 million customers, just missing the low end of 7.7 million predicted earlier. The company added more than 442,000 net subscribers during Q4 2006.
Sirius ended the year with just over 6 million subscribers.
Hugh Panero, XM CEO stated: "XM completed another year of significant subscriber growth, despite retail softness, and did so with continued cost controls, achieving positive cash flow from operations during the fourth quarter."
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