By Relmor Demitrius -
Sirius XM Radio (NASDAQ:SIRI) filed its 10-K Annual Report on Thursday, February 25th. It was another strong quarter for the company, improving further on their operating income and free cash flow year to year. Also reporting this week was Liberty Media, which owns 40% of Sirius XM, within Liberty Capital (Nasdaq:LCAPA). They also mentioned all the positives about the company, and that they may seek to add more shares in it as well. Not many I’m assuming, as they cannot add more than 4.9% more right now, according to their own agreement with Sirius XM. They could add more than that after 1 more year, but more likely 2 years would be the target time frame for anything to happen in this area.
Highlights include:
- Positive Free Cash Flow for the entire 2009 year.
- Have had two consecutive quarters of positive subscriber growth.
- Reported that almost 100 percent of the royalty rate charges had hit subscribers, of ones that could possible be charged.
- Positive Operating Income
- Beat EBITDA estimates and guidance for 2009.
- Reported Break Even Earnings, beating the street consensus by 200%.
Despite paying down outstanding bonds, huge interest payments on their debt, and it being one of the worst economic years in decades, Sirius XM left 2009 with around the same amount of cash on had they started the year with, and even added 3 million to their totals in Q4 from Q3 of this year.
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