Sirius XM Numbers Up

SIRIUSLY SPEAKING: Sirius XM Radio saw its Q1 revenues climb 11% to a record $805 million with its subscriber count jumping by 405k to a high of 22.3 million. Net income was up 38% to $108 million and adjusted EBITDA grew 15% to $208 million, even as they recently won a lawsuit against their star performer Howard Stern for unpaid bonuses based on subscription totals. Said CEO Mel Karmazin: “With auto sales in the first quarter exceeding expectations and better than expected churn, we now expect to grow our net new subscribers by 1.5 million in 2012." The company is sticking with its previous guidance of $3.3 billion in revenue, adjusted EBITDA of about $875 million, and free cash flow of approximately $700 million. (5/1a)