XM SATELLITE RADIO REPORTS 4Q LOSSES
The company also reported a consolidated net loss of $14 million, up from $11.1 million last year, and a consolidated net loss available to common shareholders of $19.8 million (or 40 cents a share), compared to $11.1 million (or 27 cents a share), respectively, for the same period last year.
On the positive news tip, XM and STMicroelectronics, the company's chipset manufacturer, cleared a major technical milestone in the production of XM's radios by delivering XM's first pass custom chips to its radio manufacturing partners.
By mid-year, XM Radio plans to unveil its 100 national channels of digital quality sound, via satellites. XM has already signed programming agreements with National Lampoon, Firesign Theatre and the Discovery Channel.
XM also announced today it had signed an agreement with Sanyo to design, develop, produce and market XM radios for factory installation into new cars. The company already has similar deals with Sony, Alpine, Pioneer Electronics, Delphi-Delco, Blaupunkt and Clarion.
