N@N

XM Canada Reports 33 Per Cent Revenue Growth in Fiscal 2009

^{Published on 2009-11-12 13:52:24 - Market Wire}
 

 Fiscal 2009 Financial Highlights - Increased revenue by 33 per cent to $52.5 million from $39.5 million in 2008 - Increased self-paying subscribers by 23 per cent to 380,900 in 2009 from 310,100 in 2008 - Reduced adjusted operating loss by 54 per cent to $14.3 million (excluding a $1.7 million write off of property and equipment) from $30.7 million - Purchased US$21.2 million of high yield debt for US$1.7 million cash and US$2.8 million of new debt for a net reduction of debt of US$18.4 million Fourth Quarter 2009 Financial Highlights - Increased revenue by 17 per cent to $13.7 million from $11.8 million in the fourth quarter of 2008 - Reduced adjusted operating loss by 65 per cent to $1.4 million (excluding a $1.6 million write off of property and equipment) from $4.1 million in the fourth quarter of 2008 - Improved operational performance by lowering the cost per gross addition to $95 in 2009 from $125 in the fourth quarter of 2008 

 Recent Business Highlights - Automotive subscribers grew by 49 per cent year-over-year and represented 89 per cent of all new XM Canada subscribers in 2009 - The popular XM SkyDock(TM) will be coming to Canada later this year and will bring live satellite radio entertainment to millions of iPod touch(R) and iPhone(R) users in their cars. Additionally, the introduction of the XM onyx(TM) satellite radio receiver and Xpress RC(i) satellite radio receiver make it faster and easier to get XM in the car - Programming innovations continue to drive our subscriber growth. New and emerging independent Canadian music is the focus of The Verge channel and The Verge Music Awards. This year, XM Canada awarded $25,000 each to Dan Mangan, Artist of the Year, and to Alexisonfire, for Album of the Year. In sports, XM along with the NHL Network, will be launching its first ever radio/TV simulcast in front of a live audience. The new NHL Power Play from Wayne Gretzky's Restaurant begins later this month - The Copyright Board of Canada made a decision regarding royalties for Satellite Radio Services, which included a charge retroactive to when XM first went on the air. Subsequently, XM reached an agreement with the key players for payment of royalties past due, which runs through to the end of September 2010, and resolved the litigation between the parties 

 CANADIAN SATELLITE RADIO HOLDINGS INC. RECONCILIATION OF LOSS BEFORE THE UNDERNOTED TO ADJUSTED OPERATING PROFIT (LOSS) (UNAUDITED) 

 ($000's) Fourth Fourth Year Ended Year Ended Quarter Quarter August 31, August 31, 2009 2008 2009 2008 Reconciliation of profit (loss) before the undernoted to Adjusted Operating Profit (Loss) Profit (Loss) before the undernoted (9,254) (10,509) (40,883) (56,627) Add back non-Adjusted Operating Profit (Loss) items included in loss Amortization 5,564 5,570 22,286 22,283 Stock-based compensation 593 783 2,492 3,388 Costs paid by parent company 64 58 248 225 Adjusted Operating Profit (Loss) (3,033) (4,098) (15,857) (30,731) Add back total marketing 4,510 6,114 22,119 26,406 Pre-Marketing Adjusted Operating Profit (Loss) 1,477 2,016 6,262 (4,325)