spacetoday.net: space news from around the webin association with SpaceNews


XM director resigns after widening loss
Posted: Fri, Feb 17, 2006, 8:55 AM ET (1355 GMT)
A member of the board of directors of XM Satellite Radio resigned Thursday after the company reported a larger-than-expected loss in the fourth quarter. XM reported a net loss of $268.3 million on $177 million in revenue in the fourth quarter of 2005, and a full-year net loss of $666.7 million on revenues of $558.3 million. The company said growing marketing and customer acquisition costs led to the larger loss. Those financial results let one member of the company's board, Pierce J. Roberts Jr., to resign. Roberts said he was "troubled" by the company's financial situation and that the company needed to make major changes to avoid "a significant chance of a crisis." XM officials brushed off Roberts' concerns, saying that the company was on track to reach cash-flow breakeven by the end of this year. XM finished 2005 with just under six million subscribers, far ahead of satellite radio rival Sirius, and plans to have nine million subscribers by the end of this year.
<<previous article   next article>>
news in brief
Union accepts contract to end ULA strike
Posted: Sun, May 20 1:41 PM ET (1741 GMT)

Contamination found in SLS core stage tubing
Posted: Sun, May 20 1:40 PM ET (1740 GMT)

Appropriators pass NASA spending bill that funds WFIRST
Posted: Sun, May 20 1:39 PM ET (1739 GMT)

news links
Tuesday, May 22
ULA machinists vote to end strike against Alabama rocket plant
Huntsville Times — 7:13 am ET (1113 GMT)
David PavlĂ­k From SpaceX to Join Kiwi.com as CIO
PR Newswire — 7:12 am ET (1112 GMT)


about spacetoday.net   ·   info@spacetoday.net   ·   mailing list