Sirius Loss Grows - Radio World

Sirius Loss Grows

Sirius Loss Grows
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Sirius reported total revenue of $685 thousand and a net loss applicable to common stockholders of $134.1 million, or $1.74 per share for Q4 of 2002. This compares with a net loss applicable to common stockholders of $83.6 million, or $1.52 per share, for Q4 2001.
Subscriber revenue of $727 thousand was partially offset by $107 thousand of costs associated with a mail-in rebate program in which rebates are paid directly to subscribers and are recorded as a reduction to subscription revenue. Average monthly revenue per subscriber, or ARPU, was approximately $10.82. ARPU, excluding costs associated with a mail-in rebate program, was approximately $12.69.
Sirius launched its service nationwide on July 1, 2002, and had nearly 30,000 subscribers at the end of 2002.

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