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Sirius Sees $50M Loss in ’01

Sirius Sees $50M Loss in '01

The company reported a fourth quarter 2001 operating loss of $51.8 million. In comparison, for the fourth quarter of 2000, Sirius reported an operating loss of $38.2 million. For 2001, the company reported an operating loss of $168.5 million, compared to an operating loss of $125.6 million for 2000.
Scelfo said the current cash flow burn rate is about $15 million per month as the company transitions from a development company to one with a product to sell. He said the company has budgeted about $10 million a year in capital expenses to maintain the terrestrial repeater network.